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Property profile & analytics
OFF-MARKET
Estimated value
$1,680,000
Commercial real estate
350 Millburn Ave Millburn, NJ 07041-1388
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US59-0844724
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1925
Construction
BRICK
Total area
12,758 SF
Lot
0.26 ac (11,400 SF)
APN
12 00801-0000-00002
UPID
US59-0844724
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
-
Premiere Creative Advertising Agency Marketing & Advertising
-
Inside Baseball Coaches Clinic Training Center Tutoring Service
-
Charles Schwab Financial Advisor
-
CATES TUTORING Tutoring Service
-
Jewelry by Randa by appointment only (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.78M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.04M
Blend (final)
Blend
$1.68M
Owner & transaction history
Conneetone Bank · 4 yrs held
Conneetone Bank
since 2022
Last sale
$1.4M
3 recorded transactions
Zoning & alternative use
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 Millburn submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Millburn 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
$1,730,000
ML approach
$1,780,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.68M
Range $1.51M – $1.85M · ±10% · vs last sale $1.38M (Nov 30 2021)
Last sale anchor
$1.38M
Nov 30 2021
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
$132 / 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
$33,322
Tax year 2022
Assessed value
$1,375,000
Assessed 2023
Previous assessed
$1,715,000
-19.8% YoY
Effective rate
2.42%
On assessed value
Assessed land
$504,600
Assessed improvement
$870,400
Land market value
$504,600
Improvement market value
$870,400
Total market value
$1,375,000
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1925
Construction
BRICK
Heating
NONE
Stories
2
Total area
12,758 SF
Lot
0.26 ac (11,400 SF)
APN
12 00801-0000-00002
UPID
US59-0844724
Jurisdiction
ESSEX
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
Building & site characteristics
From public records
Year built
1925
Construction
BRICK
Heating
NONE
Stories
2
Lot
0.26 ac
Current owner
From public records · entity-resolved
Conneetone Bank
Entity
Mailing address
25 HANOVER RDA, FLORHAM PARK, NJ 07932-1424
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 8, 2022
$4,000,000
Conneetone Bank
350 Millburn Avenue LLC
Assignment Of Lease (leasehold Sale)
$4,000,000 · Connectone Bank
Nov 30, 2021
$1,375,000
350 Millburn Avenue LLC
Hjm 440 LLC
Deed
—
Jul 10, 2013
$189,787
Hjm 440 LLC
Ccg Holdings LLC
Grant Deed
—
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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