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Property profile & analytics
OFF-MARKET
Estimated value
$895,000
Industrial properties
35 Russo Pl Berkeley Heights, NJ 07922-1622
Entity Owned
16-yr Hold
~
Est. High Equity
Property ID
US59-0730804
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1960
Construction
TYPE NOT SPECIFIED
Total area
6,840 SF
Lot
1.12 ac (48,787 SF)
Zoning code
LI
APN
01 01901-0000-00038
UPID
US59-0730804
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
-
Anco Tank & Pump Inc Gas Station
-
I-B-R Schools School District Office
-
Gas Appliance Mfr Association Association Or Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.18M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$895k
Owner & transaction history
35 Russo Place LLC · 16 yrs held
35 Russo Place LLC
since 2010
1 recorded transaction
Zoning & alternative use
LI · Berkeley Heights, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.4M
+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 Berkeley Heights submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Berkeley Heights 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%
$1,280,000
6.5%
$1,180,000
7%
$1,095,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,185,000
Current use
OFFICE BUILDING
$1,395,000
Change: +18% · Conversion: Difficult
RESTAURANT
$1,090,000
Change: -8% · Conversion: Difficult
Blend value · Realmo final
$895k
Range $806k – $985k · ±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
$131 / 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
$16,372
Tax year 2022
Assessed value
$389,900
Assessed 2023
Previous assessed
$389,900
+0.0% YoY
Effective rate
4.20%
On assessed value
Assessed land
$224,000
Assessed improvement
$165,900
Land market value
$224,000
Improvement market value
$165,900
Total market value
$389,900
Applied tax rate
1.0000
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
1960
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Total area
6,840 SF
Lot
1.12 ac (48,787 SF)
Zoning code
LI
APN
01 01901-0000-00038
UPID
US59-0730804
Jurisdiction
UNION
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
LI · Berkeley Heights, NJ
Zoning LI · permitted uses
LI · Berkeley Heights, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Berkeley Heights. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$1.2M
OFFICE BUILDING
Est. value
$1.4M
RESTAURANT
Est. value
$1.1M
INDUSTRIAL (GENERAL) Current
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
1960
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Lot
1.12 ac
Current owner
From public records · entity-resolved
35 Russo Place LLC
Entity
Mailing address
PO BOX 394, BERKELEY HEIGHTS, NJ 07922-0394
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 4, 2010
$900,000
35 Russo Place LLC
Air-conditioning Heating & Ref
Grant Deed
$455,000 · Bank Of America
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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