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Property profile & analytics
OFF-MARKET
Estimated value
$1,570,000
Commercial real estate
39 Olcott Sq Bernardsville, NJ 07924-2340
Entity Owned
18-yr Hold
~
Est. High Equity
Property ID
US59-1504177
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Construction
FRAME
Total area
8,980 SF
Lot
0.63 ac (27,443 SF)
Zoning code
D-CO
APN
03 00125-0000-00001
UPID
US59-1504177
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
-
Dr. Joseph T. Morandi Pediatrician Physician
-
Coldwell Banker Residential Brokerage: Kathleen Mulvaney Real Estate Agency
-
Brian Schnurr - Garden State Agent Real Estate Agency
-
Coldwell Banker Residential Brokerage: Donald E. Philhower Real Estate Agency
-
Family Practice Associates Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.08M
Blend (final)
Blend
$1.57M
Owner & transaction history
Palmer Ents LLC
Palmer Ents LLC
2 recorded transactions
Zoning & alternative use
D-CO · Bernardsville, 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 Bernardsville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bernardsville 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
COMMERCIAL (GENERAL)
$2,295,000
Current use
OFFICE BUILDING
$1,850,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$1.57M
Range $1.41M – $1.73M · ±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
$175 / 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
$43,896
Tax year 2022
Assessed value
$2,240,000
Assessed 2023
Previous assessed
$2,135,000
+4.9% YoY
Effective rate
1.96%
On assessed value
Assessed land
$1,000,000
Assessed improvement
$1,240,000
Land market value
$1,000,000
Improvement market value
$1,240,000
Total market value
$2,240,000
Applied tax rate
3.0000
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
FRAME
Heating
NONE
Stories
3
Units
1
Total area
8,980 SF
Lot
0.63 ac (27,443 SF)
Zoning code
D-CO
APN
03 00125-0000-00001
UPID
US59-1504177
Jurisdiction
SOMERSET
Metro division
EDISON, NJ METROPOLITAN DIVISION
Zoning & alternative use
D-CO · Bernardsville, NJ
Zoning D-CO · permitted uses
D-CO · Bernardsville, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Bernardsville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$2.3M
OFFICE BUILDING
Est. value
$1.9M
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
FRAME
Heating
NONE
Stories
3
Units
1
Lot
0.63 ac
Current owner
From public records · entity-resolved
Palmer Ents LLC
Entity
Mailing address
PO BOX 776, BERNARDSVILLE, NJ 07924-0776
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
—
—
Palmer Ents LLC
—
Deed Of Trust
related
$250,000 · Hudson United Bank
—
—
Palmer Ents LLC
—
Deed Of Trust
related
$1,750,000 · Peapack Gladstone 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.
Try Rey
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