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Property profile & analytics
OFF-MARKET
Estimated value
$3,145,000
Strip malls
38 Rte 303rd 58, Tappan, NY 10983-2806
Entity Owned
Absentee Owner
Free & Clear
Property ID
US63-2486768
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1965
Total area
9,519 SF
Lot
0.72 ac (31,363 SF)
Zoning code
CS
APN
392489 77.15-1-43
UPID
US63-2486768
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.33M
Blend (final)
Blend
$3.15M
Owner & transaction history
STATE LINE PLAZA INC
STATE LINE PLAZA INC
Zoning & alternative use
CS · Tappan, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$4.9M
+67.3%
Restaurant
$4.9M
+66.0%
Commercial (general)
$3.5M
+18.8%
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 Tappan submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Tappan 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$2,940,000
Current use
OFFICE BUILDING
$4,920,000
Change: +67% · Conversion: Moderate
RESTAURANT
$4,880,000
Change: +66% · Conversion: Difficult
COMMERCIAL (GENERAL)
$3,490,000
Change: +19% · Conversion: Easy
WAREHOUSE, STORAGE
$3,420,000
Change: +16% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$2,835,000
Change: -4% · Conversion: Difficult
Blend value · Realmo final
$3.15M
Range $2.83M – $3.46M · ±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
$330 / 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
Property tax & assessments
Assessed value
$486,700
Assessed 2023
Previous assessed
$486,700
+0.0% YoY
Assessed land
$93,000
Assessed improvement
$393,700
Land market value
$261,016
Improvement market value
$1,104,968
Total market value
$1,365,984
Applied tax rate
392,401.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1965
Heating
NONE
Buildings
1
Stories
1
Total area
9,519 SF
Lot
0.72 ac (31,363 SF)
Zoning code
CS
APN
392489 77.15-1-43
UPID
US63-2486768
Jurisdiction
ROCKLAND
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
CS · Tappan, NY
Zoning CS · permitted uses
CS · Tappan, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Tappan. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$2.9M
OFFICE BUILDING
Est. value
$4.9M
RESTAURANT
Est. value
$4.9M
COMMERCIAL (GENERAL)
Est. value
$3.5M
WAREHOUSE, STORAGE
Est. value
$3.4M
INDUSTRIAL (GENERAL)
Est. value
$2.8M
NEIGHBORHOOD: SHOPPING CENTER Current
OFFICE BUILDING
RESTAURANT
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
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
1965
Heating
NONE
Stories
1
Buildings
1
Lot
0.72 ac
Current owner
From public records · entity-resolved
STATE LINE PLAZA INC
Entity
Free & Clear · 0 yrs held
Mailing address
445 SS ST #1, MORRISTOWN, NJ 07960-6475
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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