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Property profile & analytics
OFF-MARKET
Commercial real estate
349 Passaic Ave, Nutley, NJ 07110-2738
Entity Owned
17-yr Hold
~
Est. High Equity
Property ID
US59-0548370
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1890
Lot
0.22 ac (9,552 SF)
Zoning code
B-3
APN
16 04301-0000-00047
UPID
US59-0548370
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
-
Laboratory Medical Medical Laboratory
-
Dr. Maryann Alessio, DO Physician
-
Kathy Courian, APN Physician
-
Olde Towne Optimal Health Medical Clinic
-
Christine Steinberg, APN Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
M Alessio Realty Of Nutley LLC · 17 yrs held
M Alessio Realty Of Nutley LLC
since 2009
5 recorded transactions
Zoning & alternative use
B-3 · Nutley, 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 Nutley submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Nutley 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$25,626
Tax year 2022
Assessed value
$1,137,800
Assessed 2023
Previous assessed
$663,200
+71.6% YoY
Effective rate
2.25%
On assessed value
Assessed land
$401,800
Assessed improvement
$736,000
Land market value
$401,800
Improvement market value
$736,000
Total market value
$1,137,800
Applied tax rate
16.0000
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
Year built
1890
Heating
NONE
Units
1
Lot
0.22 ac (9,552 SF)
Zoning code
B-3
APN
16 04301-0000-00047
UPID
US59-0548370
Jurisdiction
ESSEX
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
B-3 · Nutley, NJ
Zoning B-3 · permitted uses
B-3 · Nutley, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Nutley. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1890
Heating
NONE
Units
1
Lot
0.22 ac
Current owner
From public records · entity-resolved
M Alessio Realty Of Nutley LLC
Entity
Mailing address
349 PASSAIC AVE, NUTLEY, NJ 07110-2738
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2009
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
Feb 19, 2026
—
M Alessio Realty Of Nutley LLC
—
Deed
related
$480,000 · Td Bank NA
Apr 24, 2009
$417,500
M Alessio Realty Of Nutley LLC
122 Hillside Dev LLC
Grant Deed
—
—
—
M Alessio Realty Of Nutley LLC
—
Deed Of Trust
related
$35,000 · Union County Economic Dev Corp
—
—
112 Hillside Dev LLC
—
Deed Of Trust
related
$485,000 · Franklin Bank
—
—
M Alessio Realty Of Nutley LLC
—
Deed Of Trust
related
$100,000 · Economic Development
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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