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Property profile & analytics
OFF-MARKET
Estimated value
$3,290,000
Commercial real estate
37 Myrtle Ave Dover, NJ 07801-4085
Entity Owned
6-yr Hold
Free & Clear
Property ID
US59-0034714
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1920
Construction
BRICK
Total area
37,332 SF
Lot
0.85 ac (37,200 SF)
Zoning code
C-2
APN
09 01317-0000-00001
UPID
US59-0034714
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
-
Joe Kubert Sch-Cartoon High School
-
Joe Kubert School of Cartoon and Graphic Art Vocational School Training Center
-
Joe Kubert World of Cartooning Vocational School
-
Eddie School High School
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.22M
Comparable Approach
Comparable
$3.88M
Blend (final)
Blend
$3.29M
Owner & transaction history
37 Myrtle LLC · 6 yrs held
37 Myrtle LLC
since 2019
Last sale
$3.0M
2 recorded transactions
Zoning & alternative use
C-2 · Dover, 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 Dover submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Dover 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%
$4,570,000
6.5%
$4,215,000
7%
$3,915,000
Blend value · Realmo final
$3.29M
Range $2.96M – $3.62M · ±10% · vs last sale $3.00M (Oct 28 2024)
Last sale anchor
$3.00M
Oct 28 2024
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
$88 / 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
$79,002
Tax year 2022
Assessed value
$2,672,600
Assessed 2023
Previous assessed
$2,672,600
+0.0% YoY
Effective rate
2.96%
On assessed value
Assessed land
$768,600
Assessed improvement
$1,904,000
Land market value
$768,600
Improvement market value
$1,904,000
Total market value
$2,672,600
Applied tax rate
9.0000
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
1920
Construction
BRICK
Heating
NONE
Stories
3
Total area
37,332 SF
Lot
0.85 ac (37,200 SF)
Zoning code
C-2
APN
09 01317-0000-00001
UPID
US59-0034714
Jurisdiction
MORRIS
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
C-2 · Dover, NJ
Zoning C-2 · permitted uses
C-2 · Dover, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Dover. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1920
Construction
BRICK
Heating
NONE
Stories
3
Lot
0.85 ac
Current owner
From public records · entity-resolved
37 Myrtle LLC
Entity
Free & Clear · 6 yrs held
Mailing address
37 MYRTLE AVE, DOVER, NJ 07801-4085
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 26, 2019
$2,200,000
37 Myrtle LLC
Joe Kubert Sch Of Cartoon & Graph
Grant Deed
—
Jul 20, 2006
$1,000,000
2005 Dover Associates LLC
Joe Kubert School Of Cartoon A
Grant Deed
$6,950,000 · Sovereign Bank
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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