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Property profile & analytics
OFF-MARKET
Estimated value
$970,000
Bars & Pubs
345-347 2nd St 347 Elizabeth, NJ 07206-2117
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US59-2115823
Property profile
Verified
Property type
Bars & Pubs
Use group
BAR, TAVERN
Year built
1890
Total area
7,657 SF
Lot
0.11 ac (5,001 SF)
APN
04 00824-0000-00008
UPID
US59-2115823
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.03M
Blend (final)
Blend
$970k
Owner & transaction history
Second 2nd Street LLC · 8 yrs held
Second 2nd Street LLC
since 2018
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.5M
+14.5%
Commercial (general)
$1.4M
+9.6%
Industrial (general)
$1.3M
+3.7%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Elizabeth submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Elizabeth submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$1,275,000
Current use
OFFICE BUILDING
$1,465,000
Change: +15% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,400,000
Change: +10% · Conversion: Easy
INDUSTRIAL (GENERAL)
$1,325,000
Change: +4% · Conversion: Difficult
Blend value · Realmo final
$970k
Range $873k – $1.07M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$127 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$26,726
Tax year 2022
Assessed value
$87,400
Assessed 2023
Previous assessed
$87,400
+0.0% YoY
Effective rate
30.58%
On assessed value
Assessed land
$11,200
Assessed improvement
$76,200
Land market value
$11,200
Improvement market value
$76,200
Total market value
$87,400
Applied tax rate
4.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Bars & Pubs
Use group
BAR, TAVERN
Status
Off-Market
Year built
1890
Heating
NONE
Total area
7,657 SF
Lot
0.11 ac (5,001 SF)
APN
04 00824-0000-00008
UPID
US59-2115823
Jurisdiction
UNION
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$1.3M
OFFICE BUILDING
Est. value
$1.5M
COMMERCIAL (GENERAL)
Est. value
$1.4M
INDUSTRIAL (GENERAL)
Est. value
$1.3M
RESTAURANT Current
OFFICE BUILDING
COMMERCIAL (GENERAL)
INDUSTRIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1890
Heating
NONE
Lot
0.11 ac
Current owner
From public records · entity-resolved
Second 2nd Street LLC
Entity
Mailing address
1800 MAIN ST, LAKE COMO, NJ 07719-2900
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 29, 2018
$375,000
Second 2nd Street LLC
Jose Quardros Dasilva
Deed
$400,000 · Antos Lending Associates Corp
—
—
Jose Q Dasilva
—
Deed Of Trust
related
$75,000 · Lusitania Savings Bank Fsb
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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