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Property profile & analytics
FOR LEASE
Commercial real estate
464 Ridgedale Ave East Hanover, NJ 07936
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US59-1505613
For Lease
1 / 13
$1,900/Mo
464 Ridgedale Ave, East Hanover, NJ 07936
View Listing →
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1990
Total area
24,160 SF
Lot
0.1 ac (4,269 SF)
Zoning code
B-1
APN
10 00070-0000-00001
UPID
US59-1505613
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
-
Decoded: A Multi-Sensory Learning Center Training Center Tutoring Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.40M
CAP Approach
CAP
$2.73M
Comparable Approach
Comparable
$1.72M
Blend (final)
Blend
$2.40M
Owner & transaction history
Vandelay Plaza LLC · 4 yrs held
Vandelay Plaza LLC
since 2022
Last sale
$2.2M
1 recorded transaction
Zoning & alternative use
B-1 · East Hanover, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 East Hanover submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs East Hanover 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
$2,475,000
ML approach
$2,400,000
CAP Approach
CAP Return
Estimation
6%
$2,955,000
6.5%
$2,730,000
7%
$2,535,000
Blend value · Realmo final
$2.40M
Range $2.16M – $2.64M · ±10% · vs last sale $2.20M (Jan 7 2022)
Last sale anchor
$2.20M
Jan 7 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
$99 / 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
$52,294
Tax year 2022
Assessed value
$1,995,100
Assessed 2023
Previous assessed
$2,095,100
-4.8% YoY
Effective rate
2.62%
On assessed value
Assessed land
$509,500
Assessed improvement
$1,485,600
Land market value
$509,500
Improvement market value
$1,485,600
Total market value
$1,995,100
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
For Lease
Year built
1990
Heating
NONE
Stories
2
Total area
24,160 SF
Lot
0.1 ac (4,269 SF)
Zoning code
B-1
APN
10 00070-0000-00001
UPID
US59-1505613
Jurisdiction
MORRIS
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
B-1 · East Hanover, NJ
Zoning B-1 · permitted uses
B-1 · East Hanover, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
East Hanover. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1990
Heating
NONE
Stories
2
Lot
0.1 ac
Current owner
From public records · entity-resolved
Vandelay Plaza LLC
Entity
Mailing address
464 RIDGEDALE AVE, EAST HANOVER, NJ 07936
Mailing matches property
Yes
Owner-occupied
Yes
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 7, 2022
$2,200,000
Vandelay Plaza LLC
Yeung And Pun Limited Liability Com
Deed
$1,554,000 · Schuyler Savings 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.
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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