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Property profile & analytics
OFF-MARKET
Estimated value
$1,210,000
Industrial properties
5 Witte Pl West Orange, NJ 07052
Entity Owned
2-yr Hold
Free & Clear
Property ID
US59-1140272
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1933
Construction
TYPE NOT SPECIFIED
Total area
7,525 SF
Lot
0.49 ac (21,501 SF)
Zoning code
I
APN
22 00062-0000-00001
UPID
US59-1140272
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
$1.45M
CAP Approach
CAP
$1.33M
Comparable Approach
Comparable
$1.12M
Blend (final)
Blend
$1.21M
Owner & transaction history
L&b Realty Group LLC · 2 yrs held
L&b Realty Group LLC
since 2023
Last sale
$1.0M
2 recorded transactions
Zoning & alternative use
I · West Orange, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
ts R-M District Multi-family residences OB-1 District Office building OB-2 District Office building B-1 District Retail business B-2 District General business P-C District Planned Commercial O-R District Office Research I District Industry PURD District Planned Unit Residential Development RC District Residential Cluster Development C District Conservation (…
Zone name
Industry
General category
INDUSTRIAL
Zone area
26.43 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 West Orange submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs West Orange 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
$1,385,000
ML approach
$1,445,000
CAP Approach
CAP Return
Estimation
6%
$1,435,000
6.5%
$1,325,000
7%
$1,230,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,700,000
Current use
COMMERCIAL (GENERAL)
$1,675,000
Change: -1% · Conversion: Difficult
OFFICE BUILDING
$1,580,000
Change: -7% · Conversion: Difficult
Blend value · Realmo final
$1.21M
Range $1.09M – $1.33M · ±10% · vs last sale $1.00M (Nov 30 2023)
Last sale anchor
$1.00M
Nov 30 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
$161 / 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
$44,858
Tax year 2022
Assessed value
$1,011,000
Assessed 2023
Previous assessed
$1,011,000
+0.0% YoY
Effective rate
4.44%
On assessed value
Assessed land
$162,900
Assessed improvement
$848,100
Land market value
$162,900
Improvement market value
$848,100
Total market value
$1,011,000
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
Off-Market
Year built
1933
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Units
1
Total area
7,525 SF
Lot
0.49 ac (21,501 SF)
Zoning code
I
APN
22 00062-0000-00001
UPID
US59-1140272
Jurisdiction
ESSEX
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
I · West Orange, NJZoning I · permitted uses
I · West Orange, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
ts R-M District Multi-family residences OB-1 District Office building OB-2 District Office building B-1 District Retail business B-2 District General business P-C District Planned Commercial O-R District Office Research I District Industry PURD District Planned Unit Residential Development RC District Residential Cluster Development C District Conservation (Over Lay Zone) CBD District Central Business District (Over Lay Zone) West Orange
Zone name
Industry
General category
INDUSTRIAL
Zone area
26.43 ac
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$1.7M
COMMERCIAL (GENERAL)
Est. value
$1.7M
OFFICE BUILDING
Est. value
$1.6M
INDUSTRIAL (GENERAL) Current
COMMERCIAL (GENERAL)
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
1933
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Units
1
Lot
0.49 ac
Current owner
From public records · entity-resolved
L&b Realty Group LLC
Entity
Free & Clear · 2 yrs held
Mailing address
15 HILLTOP CIR, WHIPPANY, NJ 07981-2016
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 30, 2023
$1,000,000
L&b Realty Group LLC
Chabala LLC
Deed
—
Mar 31, 2014
—
Chabala LLC
Chabala,francis & Lucille
Quit Claim Deed
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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