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Property profile & analytics
OFF-MARKET
Estimated value
$665,000
Commercial real estate
375 Myrtle Ave Boonton, NJ 07005-1836
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US59-1998223
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Construction
CONCRETE BLOCKS
Total area
3,756 SF
Lot
0.32 ac (13,935 SF)
Zoning code
C-2
APN
01 00071- 17-00001
UPID
US59-1998223
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$505k
CAP Approach
CAP
$425k
Comparable Approach
Comparable
$651k
Blend (final)
Blend
$665k
Owner & transaction history
Ecwv Propco 3 LLC · 7 yrs held
Ecwv Propco 3 LLC
since 2018
3 recorded transactions
Zoning & alternative use
C-2 · Boonton, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$785,000
+7.4%
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 Boonton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Boonton 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
$505,000
CAP Approach
CAP Return
Estimation
6%
$460,000
6.5%
$425,000
7%
$395,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$735,000
Current use
OFFICE BUILDING
$785,000
Change: +7% · Conversion: Easy
Blend value · Realmo final
$665k
Range $599k – $732k · ±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
$177 / 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
$38,485
Tax year 2022
Assessed value
$1,208,700
Assessed 2023
Previous assessed
$1,208,700
+0.0% YoY
Effective rate
3.18%
On assessed value
Assessed land
$763,800
Assessed improvement
$444,900
Land market value
$763,800
Improvement market value
$444,900
Total market value
$1,208,700
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
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
Construction
CONCRETE BLOCKS
Heating
NONE
Stories
1
Total area
3,756 SF
Lot
0.32 ac (13,935 SF)
Zoning code
C-2
APN
01 00071- 17-00001
UPID
US59-1998223
Jurisdiction
MORRIS
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
C-2 · Boonton, NJ
Zoning C-2 · permitted uses
C-2 · Boonton, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Boonton. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$735,000
OFFICE BUILDING
Est. value
$785,000
COMMERCIAL (GENERAL) Current
OFFICE BUILDING
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
Construction
CONCRETE BLOCKS
Heating
NONE
Stories
1
Lot
0.32 ac
Current owner
From public records · entity-resolved
Ecwv Propco 3 LLC
Entity
Mailing address
PO BOX 214, HOLICONG, PA 18928-0214
Ownership since
2018
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 2, 2018
$1,970,000
Ecwv Propco 3 LLC
Myrtle Avenue Property LLC
Grant Deed
—
Nov 2, 2018
—
Myrtle Avenue Property LLC
Dobric Family Ptshp LLC
Grant Deed
related
$5,602,500 · Investors Bk
—
—
Myrtle Avenue Property LLC
—
Deed Of Trust
related
$800,000 · Columbia 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.
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