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Property profile & analytics
OFF-MARKET
Estimated value
$5,350,000
Industrial properties
419 Franklin Ave, Rockaway, NJ 07866-4051
Entity Owned
~
Est. High Equity
Property ID
US59-0341581
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1983
Construction
FRAME
Total area
32,000 SF
Lot
4.03 ac (175,547 SF)
Zoning code
I-2
APN
08 40101-0000-00004
UPID
US59-0341581
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
-
SiteOne Landscape Supply Garden Center Hardware & Home Improvement
-
Skyline Steel Fabricators and Erectors, LLC Factory Production Facility
-
Regency Auction House Trade Show Venue (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$5.53M
Comparable Approach
Comparable
$4.27M
Blend (final)
Blend
$5.35M
Owner & transaction history
North & East Properties LLC
North & East Properties LLC
since 2025
Last sale
$5.8M
5 recorded transactions
Zoning & alternative use
I-2 · Rockaway, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$6.7M
+17.2%
Commercial (general)
$6.6M
+16.2%
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 Rockaway submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Rockaway 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%
$5,985,000
6.5%
$5,525,000
7%
$5,130,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$5,720,000
Current use
OFFICE BUILDING
$6,700,000
Change: +17% · Conversion: Difficult
COMMERCIAL (GENERAL)
$6,645,000
Change: +16% · Conversion: Difficult
Blend value · Realmo final
$5.35M
Range $4.82M – $5.89M · ±10% · vs last sale $5.80M (Nov 7 2024)
Last sale anchor
$5.80M
Nov 7 2024
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
$167 / 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
$60,828
Tax year 2022
Assessed value
$2,365,000
Assessed 2023
Previous assessed
$2,365,000
+0.0% YoY
Effective rate
2.57%
On assessed value
Assessed land
$1,003,000
Assessed improvement
$1,362,000
Land market value
$1,003,000
Improvement market value
$1,362,000
Total market value
$2,365,000
Applied tax rate
8.0000
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
Year built
1983
Construction
FRAME
Heating
NONE
Stories
2
Total area
32,000 SF
Lot
4.03 ac (175,547 SF)
Zoning code
I-2
APN
08 40101-0000-00004
UPID
US59-0341581
Jurisdiction
MORRIS
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
I-2 · Rockaway, NJ
Zoning I-2 · permitted uses
I-2 · Rockaway, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Rockaway. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$5.7M
OFFICE BUILDING
Est. value
$6.7M
COMMERCIAL (GENERAL)
Est. value
$6.6M
INDUSTRIAL (GENERAL) Current
OFFICE BUILDING
COMMERCIAL (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
1983
Construction
FRAME
Heating
NONE
Stories
2
Lot
4.03 ac
Current owner
From public records · entity-resolved
North & East Properties LLC
Entity
Mailing address
419 FRANKLIN AVE STE #3, ROCKAWAY, NJ 07866-4051
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 6, 2025
$5,800,000
North & East Properties LLC
419 Franklin LLC
Deed
related
$4,300,000 · 419 Franklin LLC
Jul 29, 2025
$5,800,000
North & East Properties LLC
419 Franklin LLC
Deed
related
$4,300,000 · 419 Franklin LLC
Feb 7, 2025
$5,800,000
Northeast Properties LLC
419 Franklin LLC
Deed
$4,300,000 · 419 Franklin LLC
Apr 29, 2015
$2,700,000
419 Franklin LLC
Lakewood Property Assocs LLC
Grant Deed
$2,000,000 · Us Bank Series 2006-iq11 (ce)
—
—
419 Franklin LLC
—
Deed Of Trust
related
$2,000,000 · Bank Of America
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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