389 Franklin Ave Rockaway, NJ 07866-4014
Entity Owned
4-yr Hold
~
Est. High Equity
Estimated value (blended)
$1.27M
Range $1.14M – $1.40M (±10%)
Implied cap rate
8.40%
In-place · NOI ÷ last sale
Property ID
US59-0922650
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Construction
METAL FRAME
Total area
9,544 SF
Lot
3.45 ac (150,282 SF)
Zoning code
HTLI
APN
34 00084-0000-00006- 01
UPID
US59-0922650
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.29M
CAP Approach
CAP
$1.65M
Comparable Approach
Comparable
$1.35M
Blend (final)
Blend
$1.27M
Owner & transaction history
since 2022
Last sale
$1.1M
6 recorded transactions
Zoning & alternative use
HTLI · Rockaway, NJ
Zoning description
Flashing, moving or animated signs; however, nonflashing, digital reflected-light time and temperature signs shall be allowed in the O-B, G-B, N-C, GLI and HT/LI Zones. Any temperature sign shall conform to the height, s…
General category
INDUSTRIAL
Top alternative use upside
Office building
$2.0M
+17.2%
Commercial (general)
$2.0M
+16.2%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 8 comparables with addresses
3 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$1.27M
Value range
$1.14M – $1.40M
±10% around blend
Estimated value / SF
$133 / SF
Confidence
High
8 county-verified comps
Property data
75
Market benchmarks
33
Comparable evidence
80
$1.14M
blend $1.27M
$1.40M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
9,544 SF
Lot area
3.45 ac
Stories
1
APN
34 00084-0000-00006- 01
Assessed value
$857,000
Annual tax
$27,673
3
Income approach: direct capitalization
Partial preview
Income approach indication
$1.65M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$1.79M
@ 6.5% CAP return
$1.65M
@ 7% CAP return
$1.53M
4
Sales comparison
Partial preview
Sales approach indication
$1.87M
Weighted, 8 comps · high confidence
Evidence
8 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
15.1 mi away · 11,730 SF
15.6 mi away · 11,092 SF
17.3 mi away · 10,046 SF
19.4 mi away · 8,000 SF
20.2 mi away · 7,275 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$1.27M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
County 85 sales
$179
-26%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $133/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Office Building
Gross theoretical uplift
+17%
vs current-use indication
Commercial (general)
Industrial (general) · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
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Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 8 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
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Overview
Implied cap rate
8.40%
Implied, in-place cap rate for this industrial properties
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 8.40%
9.0%
NOI (est.)
$74k *
Last sale · Aug 2022
$1.05M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$875k
Move the market yield to see immediate price impact.
Value / SF
$92
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
7.90%8.40%8.90%
$66k
$837k
$788k
$743k
$74k
$930k
$875k
$826k
$81k
$1.02M
$962k
$908k
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
8 found
High confidence · county-verified
Closest comparable
$2.58M
12.9 mi · Dec 2025 · $215/SF
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$27,673
Tax year 2022
Assessed value
$857,000
Assessed 2023
Previous assessed
$857,000
+0.0% YoY
Effective rate
3.23%
On assessed value
Assessed land
$371,500
Assessed improvement
$485,500
Land market value
$371,500
Improvement market value
$485,500
Total market value
$857,000
Applied tax rate
34.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
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
Total area
9,544 SF
Lot
3.45 ac (150,282 SF)
Zoning code
HTLI
APN
34 00084-0000-00006- 01
UPID
US59-0922650
Jurisdiction
MORRIS
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
HTLI · Rockaway, NJZoning HTLI · permitted uses
HTLI · Rockaway, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Zoning description
Flashing, moving or animated signs; however, nonflashing, digital reflected-light time and temperature signs shall be allowed in the O-B, G-B, N-C, GLI and HT/LI Zones. Any temperature sign shall conform to the height, s…
General category
INDUSTRIAL
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Construction
METAL FRAME
Heating
NONE
Stories
1
Lot
3.45 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
HTLI
INDUSTRIAL
Jurisdiction
Rockaway, NJ
Recorded code
HTLI
Official district
HTLI
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for HTLI in Rockaway, NJ.
What opens after registration
Zoning profile
Official descriptionThe district text from the municipal code
District factsZone name, category and district area
Official documentVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 5 · 30 · 100 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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