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Property profile & analytics
OFF-MARKET
Estimated value
$1,045,000
Office buildings
43 Maple Ave Morristown, NJ 07960-7508
Entity Owned
37-yr Hold
Free & Clear
Property ID
US59-1726020
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Construction
TYPE NOT SPECIFIED
Total area
4,792 SF
Lot
0.45 ac (19,798 SF)
Zoning code
ORC
APN
24 06103-0000-00001
UPID
US59-1726020
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
-
Alison F. Frungillo, MSW Physician
-
The Virtual Law Office Manager, LLC Business To Business Service Business Administration Service
-
Ida M. Welsh, PhD Physician
-
Cambridge Professional Center LLC Crisis Center Medical Clinic
-
Dr. Ida Welsh Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.21M
Comparable Approach
Comparable
$970k
Blend (final)
Blend
$1.05M
Owner & transaction history
Forty-three Maple Ave Co % L Lit · 37 yrs held
Forty-three Maple Ave Co % L Lit
since 1989
2 recorded transactions
Zoning & alternative use
ORC · Morristown, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.6M
+55.3%
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 Morristown submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Morristown 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%
$1,305,000
6.5%
$1,205,000
7%
$1,115,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,005,000
Current use
COMMERCIAL (GENERAL)
$1,560,000
Change: +55% · Conversion: Easy
Blend value · Realmo final
$1.05M
Range $941k – $1.15M · ±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
$218 / 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
$30,630
Tax year 2022
Assessed value
$1,023,400
Assessed 2023
Previous assessed
$1,023,400
+0.0% YoY
Effective rate
2.99%
On assessed value
Assessed land
$654,000
Assessed improvement
$369,400
Land market value
$654,000
Improvement market value
$369,400
Total market value
$1,023,400
Applied tax rate
24.0000
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 buildings
Use group
OFFICE BUILDING
Status
Off-Market
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
3
Total area
4,792 SF
Lot
0.45 ac (19,798 SF)
Zoning code
ORC
APN
24 06103-0000-00001
UPID
US59-1726020
Jurisdiction
MORRIS
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
ORC · Morristown, NJZoning ORC · permitted uses
ORC · Morristown, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.0M
COMMERCIAL (GENERAL)
Est. value
$1.6M
OFFICE BUILDING Current
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
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
3
Lot
0.45 ac
Current owner
From public records · entity-resolved
Forty-three Maple Ave Co % L Lit
Entity
Free & Clear · 37 yrs held
Mailing address
PO BOX 484, MENDHAM, NJ 07945-0484
Ownership since
1989
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
Apr 21, 2021
—
Bsd Enterprises LLC
—
Deed
related
$145,000 · Peapack Gladstone Bank
Jan 25, 1989
$1,100,000
Forty-three Maple Ave Co % L Lit
Unknown
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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