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Property profile & analytics
OFF-MARKET
Estimated value
$12,745,000
Industrial properties
385 Franklin Ave, Rockaway, NJ 07866-4037
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US59-2537725
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Construction
METAL FRAME
Lot
7.4 ac (322,344 SF)
Zoning code
HTLI
APN
34 00084-0000-00005- 02
UPID
US59-2537725
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
-
Easy Weigh USA Factory Industrial Manufacturer
-
Ultimate Trading Corporation Logistics Company
-
GEMEYE (Bike/Boat/Book/etc) Store Corporate Office
-
Coach Bones Baseball: The Lab Sports Field & Court Sports School
-
Cardio Medical Products Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$12.24M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$12.75M
Owner & transaction history
Lm Franklin LLC · 5 yrs held
Lm Franklin LLC
since 2021
Last sale
$13.0M
5 recorded transactions
Zoning & alternative use
HTLI · Rockaway, 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 Rockaway submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Rockaway 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
$12,240,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$12.75M
Range $11.47M – $14.02M · ±10% · vs last sale $13.00M (Feb 22 2021)
Last sale anchor
$13.00M
Feb 22 2021
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
—
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
$130,620
Tax year 2022
Assessed value
$4,045,200
Assessed 2023
Previous assessed
$4,045,200
+0.0% YoY
Effective rate
3.23%
On assessed value
Assessed land
$556,100
Assessed improvement
$3,489,100
Land market value
$556,100
Improvement market value
$3,489,100
Total market value
$4,045,200
Applied tax rate
34.0000
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Construction
METAL FRAME
Heating
NONE
Stories
1
Lot
7.4 ac (322,344 SF)
Zoning code
HTLI
APN
34 00084-0000-00005- 02
UPID
US59-2537725
Jurisdiction
MORRIS
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
HTLI · Rockaway, NJ
Zoning HTLI · permitted uses
HTLI · Rockaway, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Rockaway. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Construction
METAL FRAME
Heating
NONE
Stories
1
Lot
7.4 ac
Current owner
From public records · entity-resolved
Lm Franklin LLC
Entity
Mailing address
37 W 39TH ST RM #402, NEW YORK, NY 10018-3888
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 5, 2025
—
Lm Franklin LLC
—
Deed
related
$22,250,000 · Vova Investment Management LLC
Aug 14, 2022
—
Lm Franklin LLC
—
Deed
related
$38,250,000 · Voya Investment Management LLC
Feb 22, 2021
$13,000,000
Lm Franklin LLC
385 Franklin Ave LLC
Deed
$24,000,000 · Voya Investment Management LLC
Jun 21, 2019
$9,746,500
385 Franklin Ave LLC
Franklin Assocs
Grant Deed
—
Jun 21, 2019
—
Franklin Associates
Mcwilliams Dev Corp
Grant Deed
—
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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