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Property profile & analytics
FOR SALE
Office Spaces
409 Coventry Dr, Phillipsburg, NJ 08865
Entity Owned
Free & Clear
Property ID
US59-1459789
For Sale
1 / 16
$115,000
409 Coventry Dr, Phillipsburg, NJ 08865
View Listing →
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
1983
Total area
1,640 SF
Zoning code
PO
APN
15 00085-0000-00002- 21
UPID
US59-1459789
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
by Request
Owner & transaction history
Tier II Investment Group
Tier II Investment Group
since 2025
Last sale
$65,000
2 recorded transactions
Zoning & alternative use
PO · Phillipsburg, 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 Phillipsburg submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Phillipsburg 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
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
$4,676
Tax year 2022
Assessed value
$164,000
Assessed 2023
Previous assessed
$164,000
+0.0% YoY
Effective rate
2.85%
On assessed value
Assessed land
$13,000
Assessed improvement
$151,000
Land market value
$13,000
Improvement market value
$151,000
Total market value
$164,000
Applied tax rate
15.0000
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
Office Spaces
Use group
CONDOMINIUM OFFICES
Status
For Sale
Year built
1983
Heating
NONE
Units
1
Total area
1,640 SF
Zoning code
PO
APN
15 00085-0000-00002- 21
UPID
US59-1459789
Jurisdiction
WARREN
Zoning & alternative use
PO · Phillipsburg, NJ
Zoning PO · permitted uses
PO · Phillipsburg, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Phillipsburg. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1983
Heating
NONE
Units
1
Current owner
From public records · entity-resolved
Tier II Investment Group
Entity
Free & Clear · 0 yrs held
Mailing address
409 COVENTRY DR, PHILLIPSBURG, NJ 08865-1969
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
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
Oct 24, 2025
$65,000
Tier II Investment Group
Grusso Holdings LLC
Deed
—
Jun 9, 2004
$150,000
Grusso Holding LLC
Coventry Centre Equities
Grant Deed
$160,000 · Interstate Net 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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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