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Property profile & analytics
OFF-MARKET
Office Spaces
418 State Rt 23 Franklin, NJ 07416-2120
Entity Owned
3-yr Hold
Free & Clear
Property ID
US59-2325599
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
1988
Total area
1,281 SF
Lot
0.13 ac (5,580 SF)
Zoning code
HC-2
APN
06 00701-0000-00008-0000-C0003
UPID
US59-2325599
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
Raevan Properties LLC · 3 yrs held
Raevan Properties LLC
since 2023
Last sale
$110,000
2 recorded transactions
Zoning & alternative use
HC-2 · Franklin, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The intent of this zone is to promote Highway Commercial uses
Zone name
Highway Commercial 2
General category
COMMERCIAL
Zone area
109.35 ac
Source
Realmo
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 Franklin submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Franklin 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
$6,504
Tax year 2022
Assessed value
$194,600
Assessed 2023
Previous assessed
$194,600
+0.0% YoY
Effective rate
3.34%
On assessed value
Assessed land
$64,100
Assessed improvement
$130,500
Land market value
$64,100
Improvement market value
$130,500
Total market value
$194,600
Applied tax rate
6.0000
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
Off-Market
Year built
1988
Heating
NONE
Total area
1,281 SF
Lot
0.13 ac (5,580 SF)
Zoning code
HC-2
APN
06 00701-0000-00008-0000-C0003
UPID
US59-2325599
Jurisdiction
SUSSEX
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
HC-2 · Franklin, NJZoning HC-2 · permitted uses
HC-2 · Franklin, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The intent of this zone is to promote Highway Commercial uses
Zone name
Highway Commercial 2
General category
COMMERCIAL
Zone area
109.35 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1988
Heating
NONE
Lot
0.13 ac
Current owner
From public records · entity-resolved
Raevan Properties LLC
Entity
Free & Clear · 3 yrs held
Mailing address
418 STATE RT 23RD AVE STE B, FRANKLIN, NJ 07416-2129
Mailing matches property
Yes
Owner-occupied
Yes
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 16, 2023
$110,000
Raevan Properties LLC
Akam LLC
Bargain And Sale Deed
—
Jun 2, 2015
$350,000
Akam LLC
418 Route 23 LLC
Grant Deed
—
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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