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Property profile & analytics
FOR LEASE
Office buildings
36 Newark Ave Belleville, NJ 07109
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US59-1092518
For Lease
1 / 6
$10,670,000
36 Newark Ave, Belleville, NJ 07109
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1989
Total area
48,998 SF
Lot
1.29 ac (56,192 SF)
APN
01 02202-0000-00008
UPID
US59-1092518
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
-
New Jersey Urology Medical Clinic Physician
-
New Jersey Imaging Network | Belleville Physician Medical Clinic
-
Kenneth J. Kopacz, MD Physician
-
Dr. Said Saleh Physician
-
Clinical & Invasive Cardiology Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$12.30M
Comparable Approach
Comparable
$11.11M
Blend (final)
Blend
$10.67M
Owner & transaction history
Everest 36 Newark Mob LLC · 2 yrs held
Everest 36 Newark Mob LLC
since 2023
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$13.8M
+33.7%
Commercial (general)
$11.5M
+11.9%
Industrial (general)
$11.1M
+7.6%
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 Belleville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Belleville 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%
$13,325,000
6.5%
$12,300,000
7%
$11,425,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$10,285,000
Current use
APARTMENT HOUSE (5+ UNITS)
$13,750,000
Change: +34% · Conversion: Easy
COMMERCIAL (GENERAL)
$11,505,000
Change: +12% · Conversion: Easy
INDUSTRIAL (GENERAL)
$11,065,000
Change: +8% · Conversion: Difficult
Blend value · Realmo final
$10.67M
Range $9.60M – $11.74M · ±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
$218 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$264,653
Tax year 2023
Assessed value
$6,761,700
Assessed 2024
Previous assessed
$6,761,700
+0.0% YoY
Effective rate
3.91%
On assessed value
Assessed land
$1,032,000
Assessed improvement
$5,729,700
Land market value
$1,032,000
Improvement market value
$5,729,700
Total market value
$6,761,700
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
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1989
Heating
NONE
Stories
3
Units
1
Total area
48,998 SF
Lot
1.29 ac (56,192 SF)
APN
01 02202-0000-00008
UPID
US59-1092518
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
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$10.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$13.8M
COMMERCIAL (GENERAL)
Est. value
$11.5M
INDUSTRIAL (GENERAL)
Est. value
$11.1M
OFFICE BUILDING Current
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
INDUSTRIAL (GENERAL)
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
1989
Heating
NONE
Stories
3
Units
1
Lot
1.29 ac
Current owner
From public records · entity-resolved
Everest 36 Newark Mob LLC
Entity
Mailing address
PO BOX 92129, SOUTHLAKE, TX 76092-0102
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 6, 2023
—
Everest 36 Newark Mob LLC
—
Deed
related
$45,000,000 · Capital One Bank NA
Sep 5, 2018
—
Everest 36 Newark Mob LLC
—
Grant Deed
related
$73,300,000 · Talcott Resolution Life & Annu
Jun 11, 2014
—
Belleville II Investors LLC
—
Deed Of Trust
related
$15,000,000 · General Elec Cap
—
—
Everest 36 Newark Mob LLC
—
Deed Of Trust
related
$588,000 · Talcott Resolution Life & Annu
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?”
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