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Property profile & analytics
OFF-MARKET
Estimated value
$1,375,000
Industrial properties
36 Commerce St, Springfield, NJ 07081-3004
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US59-0222437
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1955
Construction
BRICK
Total area
10,914 SF
Lot
0.47 ac (20,600 SF)
APN
17 03001-0000-00057
UPID
US59-0222437
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
-
Milrose Food Brokers Grocery & Convenience Store Food Market
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.89M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.38M
Owner & transaction history
Nine20 LLC · 6 yrs held
Nine20 LLC
since 2019
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$2.2M
+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 Springfield submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Springfield 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%
$2,040,000
6.5%
$1,885,000
7%
$1,750,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,890,000
Current use
OFFICE BUILDING
$2,225,000
Change: +18% · Conversion: Difficult
RESTAURANT
$1,740,000
Change: -8% · Conversion: Difficult
Blend value · Realmo final
$1.38M
Range $1.24M – $1.51M · ±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
$126 / 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
$39,059
Tax year 2022
Assessed value
$1,800,800
Assessed 2023
Previous assessed
$1,800,800
+0.0% YoY
Effective rate
2.17%
On assessed value
Assessed land
$873,100
Assessed improvement
$927,700
Land market value
$873,100
Improvement market value
$927,700
Total market value
$1,800,800
Applied tax rate
17.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
1955
Construction
BRICK
Heating
NONE
Stories
1
Total area
10,914 SF
Lot
0.47 ac (20,600 SF)
APN
17 03001-0000-00057
UPID
US59-0222437
Jurisdiction
UNION
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
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$1.9M
OFFICE BUILDING
Est. value
$2.2M
RESTAURANT
Est. value
$1.7M
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
1955
Construction
BRICK
Heating
NONE
Stories
1
Lot
0.47 ac
Current owner
From public records · entity-resolved
Nine20 LLC
Entity
Mailing address
36 COMMERCE ST, SPRINGFIELD, NJ 07081-3004
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2019
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
Nov 26, 2019
$1,800,000
Nine20 LLC
Hamilton Property Group LLC
Deed
—
Mar 26, 2008
—
Hamilton Property Group LLC
Patterson,david L & Margaret J
Grant Deed
$800,000 · Bank Of America
—
—
Hamilton Property Group LLC
—
Deed Of Trust
related
$600,000 · 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.
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