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Property profile & analytics
OFF-MARKET
Estimated value
$4,715,000
Commercial real estate
438 Us Hwy 206 Hillsborough, NJ 08844-5525
Individually Owned
17-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US59-2128355
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1955
Construction
CONCRETE BLOCKS
Total area
19,692 SF
Lot
3.31 ac (144,184 SF)
Zoning code
TC
APN
10 00163- 22-00033
UPID
US59-2128355
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
$5.09M
Comparable Approach
Comparable
$6.03M
Blend (final)
Blend
$4.72M
Owner & transaction history
Hillsborough Towne Center Asso · 17 yrs held
Hillsborough Towne Center Asso
since 2008
7 recorded transactions
Zoning & alternative use
TC · Hillsborough, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$6.6M
+22.6%
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 Hillsborough submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hillsborough 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%
$5,515,000
6.5%
$5,090,000
7%
$4,725,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$5,405,000
Current use
INDUSTRIAL (GENERAL)
$6,625,000
Change: +23% · Conversion: Moderate
Blend value · Realmo final
$4.72M
Range $4.24M – $5.19M · ±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
$239 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$78,253
Tax year 2023
Assessed value
$3,634,600
Assessed 2024
Previous assessed
$3,634,600
+0.0% YoY
Effective rate
2.15%
On assessed value
Assessed land
$993,000
Assessed improvement
$2,641,600
Land market value
$993,000
Improvement market value
$2,641,600
Total market value
$3,634,600
Applied tax rate
10.0000
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1955
Construction
CONCRETE BLOCKS
Heating
NONE
Stories
1
Units
1
Rooms
11
Total area
19,692 SF
Lot
3.31 ac (144,184 SF)
Zoning code
TC
APN
10 00163- 22-00033
UPID
US59-2128355
Jurisdiction
SOMERSET
Metro division
EDISON, NJ METROPOLITAN DIVISION
Zoning & alternative use
TC · Hillsborough, NJ
Zoning TC · permitted uses
TC · Hillsborough, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Hillsborough. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$5.4M
INDUSTRIAL (GENERAL)
Est. value
$6.6M
COMMERCIAL (GENERAL) 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
1955
Construction
CONCRETE BLOCKS
Heating
NONE
Stories
1
Units
1
Rooms
11
Lot
3.31 ac
Current owner
From public records · entity-resolved
Hillsborough Towne Center Asso
Individual
Mailing address
1250 STATE RTE 28TH STE #101, BRANCHBURG, NJ 08876-3389
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2008
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 8, 2012
—
Greenwich Commons II LLC
—
Deed Of Trust
related
$69,637,500 · Citibank NA
Apr 14, 2009
—
Hillsborough Towne Center Asso
—
Trustees Deed
related
$6,500,000 · Union Center National Bank
Dec 22, 2008
—
Hillsborough Towne Ctr Assocs
—
Deed Of Trust
related
$65,000,000 · Citicorp USA Corp
Sep 18, 2008
$5,150,000
Hillsborough Towne Center Asso
Fishbein Family LLC
Grant Deed
—
Mar 25, 2004
$5,800,000
Fishbein Family Ptshp
Hillsborough Center Associates
Grant Deed
$2,336,613 · Hillsborough Center Associates
—
—
Greenwich Commons II LLC
—
Loan Modification
related
$82,000,000 · Citibank NA
—
—
Fishbein Family Ptshp
—
Deed Of Trust
related
$2,925,000 · Sun National 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.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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