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Property profile & analytics
FOR LEASE
Industrial properties
450 Oak Tree Ave South Plainfield, NJ 07080
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US59-2795896
For Lease
$45,085,000
450 Oak Tree Ave, South Plainfield, NJ 07080
View Listing →
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1962
Total area
248,105 SF
Lot
12.45 ac (542,322 SF)
Zoning code
M3
APN
22 00254-0000-00005
UPID
US59-2795896
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
-
ServoPak Machines, LLC Industrial Manufacturer Production Facility
-
Hammer Exteriors Roofing Company General Contractor
-
Just Packaging Inc Industrial Manufacturer Factory
-
Ducalm Skincare Cosmetic Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$42.85M
Comparable Approach
Comparable
$30.00M
Blend (final)
Blend
$45.09M
Owner & transaction history
Jmdh Real Estate Of Sp Nj Dc LLC · 3 yrs held
Jmdh Real Estate Of Sp Nj Dc LLC
since 2022
Last sale
$45.0M
6 recorded transactions
Zoning & alternative use
M3 · South Plainfield, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$67.8M
+22.8%
Apartment house (5+ units)
$61.1M
+10.7%
Commercial (general)
$55.6M
+0.7%
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 South Plainfield submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs South Plainfield 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
$47,495,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$46,415,000
6.5%
$42,845,000
7%
$39,785,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$55,240,000
Current use
OFFICE BUILDING
$67,840,000
Change: +23% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$61,130,000
Change: +11% · Conversion: Difficult
COMMERCIAL (GENERAL)
$55,625,000
Change: +1% · Conversion: Difficult
Blend value · Realmo final
$45.09M
Range $40.58M – $49.59M · ±10% · vs last sale $45.00M (Dec 6 2022)
Last sale anchor
$45.00M
Dec 6 2022
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
$182 / 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
$231,709
Tax year 2022
Assessed value
$3,513,400
Assessed 2023
Previous assessed
$3,513,400
+0.0% YoY
Effective rate
6.60%
On assessed value
Assessed land
$622,500
Assessed improvement
$2,890,900
Land market value
$622,500
Improvement market value
$2,890,900
Total market value
$3,513,400
Applied tax rate
22.0000
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
For Lease
Year built
1962
Heating
NONE
Total area
248,105 SF
Lot
12.45 ac (542,322 SF)
Zoning code
M3
APN
22 00254-0000-00005
UPID
US59-2795896
Jurisdiction
MIDDLESEX
Metro division
EDISON, NJ METROPOLITAN DIVISION
Zoning & alternative use
M3 · South Plainfield, NJ
Zoning M3 · permitted uses
M3 · South Plainfield, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
South Plainfield. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$55.2M
OFFICE BUILDING
Est. value
$67.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$61.1M
COMMERCIAL (GENERAL)
Est. value
$55.6M
INDUSTRIAL (GENERAL) Current
OFFICE BUILDING
APARTMENT HOUSE (5+ UNITS)
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
1962
Heating
NONE
Lot
12.45 ac
Current owner
From public records · entity-resolved
Jmdh Real Estate Of Sp Nj Dc LLC
Entity
Mailing address
1710 WHITESTONE EXPY, WHITESTONE, NY 11357-3054
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 6, 2022
$45,000,000
Jmdh Real Estate Of Sp Nj Dc LLC
Pp 450 Oak LLC
Deed
—
Mar 21, 2022
—
Pp 450 Oak LLC
450 Oak Tree LLC
Bargain And Sale Deed
$14,000,000 · Lakeland Bank
Jan 26, 2017
—
450 Oak Tree LLC
—
Deed
related
$11,000,000 · Spencer Svgs Bk
Feb 15, 2008
$11,750,000
450 Oak Tree LLC
Dowel-lieberman LLC
Grant Deed
$9,400,000 · Bank Leumi USA
May 16, 2007
—
Dowel-iris LLC
Dowel Sp LLC
Quit Claim Deed
—
—
—
450 Oak Tree LLC
—
Deed Of Trust
related
$11,000,000 · Spencer Svgs Bk
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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