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Property profile & analytics
OFF-MARKET
Estimated value
$9,740,000
Commercial real estate
345 Main St Madison, NJ 07940-2383
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US59-2979267
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Total area
19,060 SF
Lot
1.36 ac (59,242 SF)
Zoning code
GBA
APN
17 05202-0000-00007
UPID
US59-2979267
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
Current use
Occupant on record · Public records
-
Lisa Ospina Physician
-
Stephen Derosa Alternative Medicine Practice
-
Madison Medical & Sports Rehabilitation Center Physician
-
Kevin Dunn Medical Clinic
-
Dr. Stephen DeRosa Jr. DC, ATC Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$10.05M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$11.64M
Blend (final)
Blend
$9.74M
Owner & transaction history
320 Dean Street LLC · 3 yrs held
320 Dean Street LLC
since 2022
Last sale
$9.3M
7 recorded transactions
Zoning & alternative use
GBA · Madison, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Madison submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Madison 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
$10,405,000
ML approach
$10,050,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$9.74M
Range $8.77M – $10.71M · ±10% · vs last sale $9.25M (Aug 23 2022)
Last sale anchor
$9.25M
Aug 23 2022
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
$511 / 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
$86,130
Tax year 2022
Assessed value
$4,193,300
Assessed 2023
Previous assessed
$4,193,300
+0.0% YoY
Effective rate
2.05%
On assessed value
Assessed land
$1,224,000
Assessed improvement
$2,969,300
Land market value
$1,224,000
Improvement market value
$2,969,300
Total market value
$4,193,300
Applied tax rate
17.0000
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Heating
NONE
Stories
1
Total area
19,060 SF
Lot
1.36 ac (59,242 SF)
Zoning code
GBA
APN
17 05202-0000-00007
UPID
US59-2979267
Jurisdiction
MORRIS
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
GBA · Madison, NJ
Zoning GBA · permitted uses
GBA · Madison, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Madison. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Heating
NONE
Stories
1
Lot
1.36 ac
Current owner
From public records · entity-resolved
320 Dean Street LLC
Entity
Mailing address
345 MAIN ST, SUMMIT, NJ 07901
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 23, 2022
$9,250,000
320 Dean Street LLC
345 Main Street Jv LLC
Deed
$6,100,000 · Ridgewood Savings Bank
Aug 23, 2022
—
320 Dean Street LLC
345 Main Street Jv LLC
Deed
—
Jun 29, 2018
$5,000,000
345 Main St Jv LLC
Madison 2007 LLC
Deed
—
Dec 30, 2016
—
Madison 2007 LLC
—
Deed
related
$3,235,637 · Oritani Bk
Jul 15, 2010
—
Madison 2007 LLC
—
Trustees Deed
related
$3,600,000 · Oritani Bank
Dec 18, 2007
$3,000,000
Madison 2007 LLC
Lincoln Morris INC
Grant Deed
—
—
—
Madison 2007 LLC
—
Loan Modification
related
$3,235,637 · Oritani Bk
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.
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