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Property profile & analytics
OFF-MARKET
Estimated value
$2,770,000
Office buildings
40 Galesi Dr Wayne, NJ 07470-4826
Entity Owned
3-yr Hold
Free & Clear
Property ID
US59-3113135
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1969
Total area
25,548 SF
Lot
1.54 ac (67,082 SF)
Zoning code
I
APN
14 00400-0000-00012
UPID
US59-3113135
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
-
Center for Partnership Services High School
-
Carpets 46 Hardwood Floor Installation General Contractor Renovation Specialist
-
Therapist Portal Physician
-
LasComp Institute of IT (LIIT) - Wayne High School Vocational School
-
Woodmar Construction Inc. General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.95M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.78M
Blend (final)
Blend
$2.77M
Owner & transaction history
2044 Center Property INC · 3 yrs held
2044 Center Property INC
since 2023
Last sale
$2.7M
7 recorded transactions
Zoning & alternative use
I · Wayne, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$4.4M
+1.1%
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 Wayne submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Wayne 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
$2,770,000
ML approach
$2,945,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$4,360,000
Current use
INDUSTRIAL (GENERAL)
$4,410,000
Change: +1% · Conversion: Difficult
Blend value · Realmo final
$2.77M
Range $2.49M – $3.05M · ±10% · vs last sale $2.68M (Apr 24 2023)
Last sale anchor
$2.68M
Apr 24 2023
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
$108 / 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
$50,603
Tax year 2022
Assessed value
$895,000
Assessed 2023
Previous assessed
$895,000
+0.0% YoY
Effective rate
5.65%
On assessed value
Assessed land
$377,300
Assessed improvement
$517,700
Land market value
$377,300
Improvement market value
$517,700
Total market value
$895,000
Applied tax rate
14.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1969
Heating
NONE
Total area
25,548 SF
Lot
1.54 ac (67,082 SF)
Zoning code
I
APN
14 00400-0000-00012
UPID
US59-3113135
Jurisdiction
PASSAIC
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
I · Wayne, NJ
Zoning I · permitted uses
I · Wayne, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Wayne. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$4.4M
INDUSTRIAL (GENERAL)
Est. value
$4.4M
OFFICE BUILDING Current
INDUSTRIAL (GENERAL)
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
Year built
1969
Heating
NONE
Lot
1.54 ac
Current owner
From public records · entity-resolved
2044 Center Property INC
Entity
Free & Clear · 3 yrs held
Mailing address
55 MONTROSE CT, ROSLYN, NY 11576-1112
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 24, 2023
$2,675,000
2044 Center Property INC
Wentworth Management LLC
Deed
—
Apr 20, 2011
$850,000
Wentworth Management LLC
Nfps INC
Grant Deed
—
Jan 20, 2010
—
Nfps INC
Sheriff Of Passaic County
Trustees Deed
related
—
Nov 6, 2009
—
40 Galesi Drive LLC
—
Trustees Deed
related
$400,000 · Mobile Group INC
Oct 1, 2009
—
40 Galesi Drive LLC
—
Trustees Deed
related
$400,000 · Mobile Group LLC
Jan 25, 2006
$2,505,000
49 Galesi LLC
Maltese Associates LLC
Grant Deed
—
Jun 28, 1995
$55,000
James Meyer
Stivala,greg
Grant Deed
—
Jan 30, 1995
$55,000
James Meyer
Stivala,greg
Grant Deed
—
—
—
Golden Properties LLC
—
Deed Of Trust
related
$400,000 · Mobile Mtg INC
—
—
Gary L Kadi
—
Deed Of Trust
related
$273,100 · Fleet National Bank
—
—
40 Galesi LLC
—
Deed Of Trust
related
$1,687,500 · Wachovia Bank NA
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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