Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$5,200,000
Industrial properties
347 3rd St 423 Plainfield, NJ 07060-1823
Entity Owned
Free & Clear
Property ID
US59-1951669
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1917
Construction
CONCRETE BLOCKS
Total area
29,192 SF
Lot
1.48 ac (64,320 SF)
Zoning code
MU
APN
12 00307-0000-00031- 01
UPID
US59-1951669
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
$5.20M
CAP Approach
CAP
$5.04M
Comparable Approach
Comparable
$3.25M
Blend (final)
Blend
$5.20M
Owner & transaction history
Srv Plainfield 3 Urban Renewal LLC
Srv Plainfield 3 Urban Renewal LLC
since 2025
Last sale
$5.2M
5 recorded transactions
Zoning & alternative use
MU · Plainfield, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$6.2M
+22.6%
Office building
$5.9M
+17.7%
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 Plainfield submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Plainfield 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
$5,200,000
ML approach
$5,195,000
CAP Approach
CAP Return
Estimation
6%
$5,460,000
6.5%
$5,040,000
7%
$4,680,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$5,050,000
Current use
COMMERCIAL (GENERAL)
$6,195,000
Change: +23% · Conversion: Difficult
OFFICE BUILDING
$5,945,000
Change: +18% · Conversion: Difficult
RESTAURANT
$4,655,000
Change: -8% · Conversion: Difficult
Blend value · Realmo final
$5.20M
Range $4.68M – $5.72M · ±10% · vs last sale $5.20M (May 31 2023)
Last sale anchor
$5.20M
May 31 2023
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
$178 / 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
$17,227
Tax year 2022
Assessed value
$197,900
Assessed 2023
Previous assessed
$197,900
+0.0% YoY
Effective rate
8.70%
On assessed value
Assessed land
$116,700
Assessed improvement
$81,200
Land market value
$116,700
Improvement market value
$81,200
Total market value
$197,900
Applied tax rate
12.0000
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1917
Construction
CONCRETE BLOCKS
Heating
NONE
Stories
2
Total area
29,192 SF
Lot
1.48 ac (64,320 SF)
Zoning code
MU
APN
12 00307-0000-00031- 01
UPID
US59-1951669
Jurisdiction
UNION
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
MU · Plainfield, NJ
Zoning MU · permitted uses
MU · Plainfield, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Plainfield. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$5.1M
COMMERCIAL (GENERAL)
Est. value
$6.2M
OFFICE BUILDING
Est. value
$5.9M
RESTAURANT
Est. value
$4.7M
INDUSTRIAL (GENERAL) Current
COMMERCIAL (GENERAL)
OFFICE BUILDING
RESTAURANT
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
1917
Construction
CONCRETE BLOCKS
Heating
NONE
Stories
2
Lot
1.48 ac
Current owner
From public records · entity-resolved
Srv Plainfield 3 Urban Renewal LLC
Entity
Free & Clear · 0 yrs held
Mailing address
218 RICHMOND ST #26, PLAINFIELD, NJ 07060-1304
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 14, 2025
—
Srv Plainfield 3 Urban Renewal LLC
Srv Plainfield 3 Urban Renewal LLC
Deed
related
—
Jun 30, 2025
—
Srv Plainfield 4 Urban Renewal LLC
Srv Plainfield 4 Urban Renewal LLC
Deed
related
—
May 31, 2023
$5,200,000
Srv Plainfield 4 LLC
Sumo Property Management LLC
Deed
$3,625 · Sumo Property Management LLC
Mar 21, 2018
$225,000
Sumo Property Management LLC
Crown Real Estate Holdings INC
Grant Deed
—
Nov 29, 2012
$100
Crown Real Estate Holdings INC
Sheriff Of County Of Union
Trustees Deed
related
—
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 347 3rd St, Unit 423?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
