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Property profile & analytics
OFF-MARKET
Estimated value
$590,000
Industrial properties
49-51 Cornelison Ave 51 Jersey City, NJ 07304-3403
Entity Owned
2-yr Hold
Free & Clear
Property ID
US59-1503917
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1987
Construction
CONCRETE BLOCKS
Total area
2,400 SF
Lot
0.12 ac (5,250 SF)
APN
06 17102-0000-00013
UPID
US59-1503917
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
$655k
CAP Approach
CAP
$415k
Comparable Approach
Comparable
$719k
Blend (final)
Blend
$590k
Owner & transaction history
Ace 69 Cornelison Ave LLC · 2 yrs held
Ace 69 Cornelison Ave LLC
since 2023
Last sale
$550,550
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$655,000
+28.4%
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 Jersey City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Jersey City 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
$660,000
ML approach
$655,000
CAP Approach
CAP Return
Estimation
6%
$450,000
6.5%
$415,000
7%
$385,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$510,000
Current use
COMMERCIAL (GENERAL)
$655,000
Change: +28% · Conversion: Difficult
Blend value · Realmo final
$590k
Range $531k – $649k · ±10% · vs last sale $551k (Nov 22 2023)
Last sale anchor
$551k
Nov 22 2023
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
$246 / 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
$8,762
Tax year 2022
Assessed value
$413,700
Assessed 2023
Previous assessed
$413,700
+0.0% YoY
Effective rate
2.12%
On assessed value
Assessed land
$209,200
Assessed improvement
$204,500
Land market value
$209,200
Improvement market value
$204,500
Total market value
$413,700
Applied tax rate
6.0000
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
Off-Market
Year built
1987
Construction
CONCRETE BLOCKS
Heating
NONE
Stories
1
Total area
2,400 SF
Lot
0.12 ac (5,250 SF)
APN
06 17102-0000-00013
UPID
US59-1503917
Jurisdiction
HUDSON
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
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
INDUSTRIAL (GENERAL) Current
Est. value
$510,000
COMMERCIAL (GENERAL)
Est. value
$655,000
INDUSTRIAL (GENERAL) 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
1987
Construction
CONCRETE BLOCKS
Heating
NONE
Stories
1
Lot
0.12 ac
Current owner
From public records · entity-resolved
Ace 69 Cornelison Ave LLC
Entity
Free & Clear · 2 yrs held
Mailing address
21 REMSEN AVE #301, MONSEY, NY 10952-2803
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 22, 2023
$550,550
Ace 69 Cornelison Ave LLC
Andrew M Jacobson
Deed
—
Oct 6, 2009
—
Klavan Isaac Tr
Klaan Harriet
Grant Deed
related
—
Jan 22, 2007
$750,000
Jacobson,andrew Tr
Kanter,richard
Grant Deed
—
—
—
Jacobson Andrew M Tr
—
Deed Of Trust
related
$583,000 · J P Morgan Chase 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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