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Property profile & analytics
OFF-MARKET
Estimated value
$985,000
Industrial properties
3rd Ave At Morris St Alpha, NJ 08865
Entity Owned
21-yr Hold
~
Est. High Equity
Property ID
US59-2353211
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Construction
CONCRETE BLOCKS
Total area
11,058 SF
Zoning code
B-2
APN
02 00069-0000-00001
UPID
US59-2353211
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
by Request
Blend (final)
Blend
$985k
Owner & transaction history
Shop & Save Shopping Ctr INC · 21 yrs held
Shop & Save Shopping Ctr INC
since 2004
1 recorded transaction
Zoning & alternative use
B-2 · Alpha, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.4M
+27.4%
Apartment house (5+ units)
$1.1M
+0.2%
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 Alpha submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Alpha 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
INDUSTRIAL (GENERAL)
$1,120,000
Current use
COMMERCIAL (GENERAL)
$1,430,000
Change: +27% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,125,000
Change: +0% · Conversion: Difficult
Blend value · Realmo final
$985k
Range $887k – $1.08M · ±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
$89 / 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
$39,299
Tax year 2022
Assessed value
$1,162,000
Assessed 2023
Previous assessed
$1,162,000
+0.0% YoY
Effective rate
3.38%
On assessed value
Assessed land
$291,800
Assessed improvement
$870,200
Land market value
$291,800
Improvement market value
$870,200
Total market value
$1,162,000
Applied tax rate
2.0000
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
CONCRETE BLOCKS
Heating
NONE
Stories
1
Units
1
Total area
11,058 SF
Zoning code
B-2
APN
02 00069-0000-00001
UPID
US59-2353211
Jurisdiction
WARREN
Zoning & alternative use
B-2 · Alpha, NJ
Zoning B-2 · permitted uses
B-2 · Alpha, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alpha. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$1.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.1M
INDUSTRIAL (GENERAL) Current
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
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
CONCRETE BLOCKS
Heating
NONE
Stories
1
Units
1
Current owner
From public records · entity-resolved
Shop & Save Shopping Ctr INC
Entity
Mailing address
171 SCHRAALENBURGH RD, HAWORTH, NJ 07641-1815
Ownership since
2004
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 30, 2004
$1,150,000
Shop & Save Shopping Ctr INC
Alma School Landfill INC
Grant Deed
$675,000 · Broadway National 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.
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