Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    380-382 Franklin Ave, Unit 382 Belleville, NJ 07109-1704
    Back to Search
    Property profile & analytics

    380-382 Franklin Ave, Unit 382, Belleville, NJ 07109-1704

    View on Map
    • Commercial real estate
    • 0.04 lot acres
    Off-Market
    Property ID
    US59-1807502
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 380-382 Franklin Ave

    Lot size
    0.04 lot acres
    Property type
    Commercial real estate
    APN
    01 03401-0000-00018
    APU
    103401000000018

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Feb 16, 2011 — Viola & Sons Realty LLC Joseph Viola & Sons Realty LLC Quit Claim Deed $390k · Valley National Bank
    Apr 22, 2009 $50,000 Joseph Viola Realty 380-382 Franklin Avenue LLC Grant Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Belleville
    County
    Essex
    State
    New Jersey
    Longitude
    -74.1694
    Latitude
    40.8029
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $1,078
    $23,900
    $4,100
    $28,000
    -
    $23,900
    $4,100
    $28,000

    Comparable in this City

    • Value Estimation by Request

      136-56 Fwy E Dr

      COMMERCIAL (GENERAL)
      136-56 Fwy E Dr, Belleville, NJ 07109
      View Details
    • Value Estimation
      $720,000
      5.94 Acres

      371 Main St, Unit 411

      COMMERCIAL (GENERAL)
      371 Main St, Belleville, NJ 07109-3234
      View Details
    • Value Estimation
      $1,590,000
      7,185 SF

      357 Ml St

      COMMERCIAL (GENERAL)
      357 Ml St, Belleville, NJ 07109
      View Details
    • Value Estimation
      $5,745,000
      26,955 SF

      540 Ml St

      COMMERCIAL (GENERAL)
      540 Ml St, Belleville, NJ 07109-1604
      View Details
    • Value Estimation
      $680,000
      2,987 SF

      91 Terry St

      COMMERCIAL (GENERAL)
      91 Terry St, Belleville, NJ 07109-3222
      View Details
    • Value Estimation
      $2,065,000
      9,503 SF

      577 Washington Ave, Unit 589

      COMMERCIAL (GENERAL)
      577 Washington Ave, Belleville, NJ 07109-3333
      View Details

    Similar Nearby for Sale

    • $699,000
      3,283 SF

      Belleville Firehouse: Huge Potential

      3,283 sq ft, R-C Zoning, High Ceilings
      119 William St, Belleville, NJ 07109
      View Details
    • $2,400,000

      Commercial Property in Busy District

      Commercial property in a busy business district, Belleville Twp., NJ.
      32 Washington Ave, Belleville, NJ 07109
      View Details
    • $189,900
      Pending

      Residential Lot in Belleville Township

      Vacant lot for custom home in established neighborhood.
      83 Ralph St, Belleville, NJ 07109
      View Details
    • Contact for pricing
      2,700 SF

      Modern Multifamily Asset in Belleville

      Six-unit apartment building built in 2020 with modern finishes.
      55 Watchung Ave, Belleville, NJ 07109
      View Details
    • $1,100,000
      3,766 SF

      Belleville Mixed-Use Opportunity

      Renovated mixed-use property with commercial and residential potential.
      431 Washington Ave, Belleville, NJ 07109
      View Details
    • New
      $649,000
      Pending

      Spacious Multi-Unit Property in Belleville

      Three-unit property near NYC transportation, ideal for owners or investors.
      76 Heckel St, Belleville, NJ 07109
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      New Construction Corner Retail Space

      1,711 SF new construction retail space for rent.
      215 Belleville Ave, Belleville, NJ 07109
      View Details
    • Contact for pricing

      Belleville Commercial Space For Lease

      Well-maintained commercial space suitable for office or medical use.
      144 Belmont Ave, Belleville, NJ 07109
      View Details
    • Contact for pricing

      Medical Office Space Near Hospital

      Medical office space available near Clara Maass Medical Center.
      5 Franklin Ave, Belleville, NJ 07109
      View Details
    • $2,500 /Mo
      1,500 SF

      Versatile Commercial Space in Belleville

      1,500 sq ft commercial space with office and parking.
      56 Mill St, Belleville, NJ 07109
      View Details
    • $2,500 /Mo
      1,000 SF

      Commercial Space with Private Office

      1,000 sq ft commercial space in Belleville, NJ.
      280 Washington Ave, Belleville, NJ 07109
      View Details
    • $2,200 /Mo

      Second Floor Apartment For Rent

      Second floor apartment with included utilities and parking.
      312 Franklin Ave, Belleville, NJ 07109
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    380-382 Franklin Ave, Unit 382
    Belleville, NJ 07109-1704
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    380-382 Franklin Ave, Belleville, NJ, 07109
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!