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Property profile & analytics
OFF-MARKET
Estimated value
$530,000
Commercial real estate
44 Fairmount Ave Chatham, NJ 07928-2367
Entity Owned
24-yr Hold
Absentee Owner
Free & Clear
Property ID
US59-0976854
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1920
Construction
STONE
Total area
3,932 SF
Lot
0.52 ac (22,499 SF)
Zoning code
R-2
APN
04 00091-0000-00003
UPID
US59-0976854
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
$390k
CAP Approach
CAP
$445k
Comparable Approach
Comparable
$741k
Blend (final)
Blend
$530k
Owner & transaction history
DRISCOLL PROPERTIES
DRISCOLL PROPERTIES
Zoning & alternative use
R-2 · Chatham, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
d usage. § 165-10 Definitions. Article III Zoning Districts and Zoning Map § 165-11 Zoning districts. § 165-12 Zoning Map. § 165-13 Interpretation of boundaries. Article IV Residential District Regulations § 165-14 R-1, R-2, R-3 and R-4 Residential Districts. § 165-15 G-1 Residential District. Article V Business District Regulations § 165-16 B-1 Business Ser…
Zone name
Residential District
General category
RESIDENTIAL
Zone area
498.77 ac
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 Chatham submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Chatham 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
$390,000
CAP Approach
CAP Return
Estimation
6%
$480,000
6.5%
$445,000
7%
$410,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$825,000
Change: -14% · Conversion: Easy
Blend value · Realmo final
$530k
Range $477k – $583k · ±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
$135 / 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
$17,464
Tax year 2022
Assessed value
$1,039,600
Assessed 2023
Previous assessed
$800,000
+30.0% YoY
Effective rate
1.68%
On assessed value
Assessed land
$482,600
Assessed improvement
$557,000
Land market value
$482,600
Improvement market value
$557,000
Total market value
$1,039,600
Applied tax rate
4.0000
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
1920
Construction
STONE
Heating
NONE
Stories
3
Units
1
Total area
3,932 SF
Lot
0.52 ac (22,499 SF)
Zoning code
R-2
APN
04 00091-0000-00003
UPID
US59-0976854
Jurisdiction
MORRIS
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
R-2 · Chatham, NJZoning R-2 · permitted uses
R-2 · Chatham, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
d usage. § 165-10 Definitions. Article III Zoning Districts and Zoning Map § 165-11 Zoning districts. § 165-12 Zoning Map. § 165-13 Interpretation of boundaries. Article IV Residential District Regulations § 165-14 R-1, R-2, R-3 and R-4 Residential Districts. § 165-15 G-1 Residential District. Article V Business District Regulations § 165-16 B-1 Business Service District. § 165-17 B-2 Regional Business District. § 165-18 B-3 General Busine
Zone name
Residential District
General category
RESIDENTIAL
Zone area
498.77 ac
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$825,000
OFFICE BUILDING
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
1920
Construction
STONE
Heating
NONE
Stories
3
Units
1
Lot
0.52 ac
Current owner
From public records · entity-resolved
DRISCOLL PROPERTIES
Individual
Free & Clear · 0 yrs held
Mailing address
27 BOWERS LN, CHATHAM, NJ 07928-2370
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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