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Property profile & analytics
OFF-MARKET
Estimated value
$1,165,000
Office Spaces
44 State Rt 23 Pequannock, NJ 07440
Entity Owned
8-yr Hold
Absentee Owner
Free & Clear
Property ID
US59-1799434
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
1991
Total area
4,558 SF
Lot
0.12 ac (5,258 SF)
Zoning code
HB
APN
33 00029-0000-00023- 13
UPID
US59-1799434
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
$1.15M
Comparable Approach
Comparable
$1.21M
Blend (final)
Blend
$1.17M
Owner & transaction history
44 Riverdale Nj Partners LLC · 8 yrs held
44 Riverdale Nj Partners LLC
since 2017
3 recorded transactions
Zoning & alternative use
HB · Pequannock, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.1M
+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 Pequannock submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Pequannock 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%
$1,240,000
6.5%
$1,145,000
7%
$1,065,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$955,000
Current use
COMMERCIAL (GENERAL)
$1,110,000
Change: +16% · Conversion: Easy
Blend value · Realmo final
$1.17M
Range $1.05M – $1.28M · ±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
$256 / 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
$20,957
Tax year 2022
Assessed value
$1,172,400
Assessed 2023
Previous assessed
$1,120,700
+4.6% YoY
Effective rate
1.79%
On assessed value
Assessed land
$250,700
Assessed improvement
$921,700
Land market value
$250,700
Improvement market value
$921,700
Total market value
$1,172,400
Applied tax rate
33.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
1991
Heating
NONE
Stories
1
Total area
4,558 SF
Lot
0.12 ac (5,258 SF)
Zoning code
HB
APN
33 00029-0000-00023- 13
UPID
US59-1799434
Jurisdiction
MORRIS
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
HB · Pequannock, NJZoning HB · permitted uses
HB · Pequannock, 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
$955,000
COMMERCIAL (GENERAL)
Est. value
$1.1M
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
Year built
1991
Heating
NONE
Stories
1
Lot
0.12 ac
Current owner
From public records · entity-resolved
44 Riverdale Nj Partners LLC
Entity
Free & Clear · 8 yrs held
Mailing address
999 CENTRAL AVE STE #304, WOODMERE, NY 11598-1205
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 12, 2017
$1,160,235
44 Riverdale Nj Partners LLC
Tdg Realty Rn LLC
Grant Deed
—
Sep 15, 2011
$1,048,215
Tdg Realty-rn LLC
Riverdale One LLC
Grant Deed
$838,500 · Bank Of America
—
—
Tdg Realty-rnllc
—
Loan Modification
related
—
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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