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Property profile & analytics
OFF-MARKET
Estimated value
$1,355,000
Commercial real estate
500 Springfield Ave Berkeley Heights, NJ 07922-1112
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US59-3145681
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
2003
Construction
FRAME
Total area
7,300 SF
Lot
0.39 ac (16,988 SF)
Zoning code
DD
APN
01 00613-0000-00003- 01
UPID
US59-3145681
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
-
Vine Republic (Bike/Boat/Book/etc) Store Wine and Liquor Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.48M
Comparable Approach
Comparable
$1.35M
Blend (final)
Blend
$1.36M
Owner & transaction history
Berkeley Springfield Ave LLC · 8 yrs held
Berkeley Springfield Ave LLC
since 2018
5 recorded transactions
Zoning & alternative use
DD · Berkeley Heights, 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 Berkeley Heights submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Berkeley Heights 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%
$1,605,000
6.5%
$1,480,000
7%
$1,375,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,815,000
Current use
OFFICE BUILDING
$1,485,000
Change: -18% · Conversion: Easy
Blend value · Realmo final
$1.36M
Range $1.22M – $1.49M · ±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
$186 / 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
$49,431
Tax year 2022
Assessed value
$1,177,200
Assessed 2023
Previous assessed
$1,177,200
+0.0% YoY
Effective rate
4.20%
On assessed value
Assessed land
$209,900
Assessed improvement
$967,300
Land market value
$209,900
Improvement market value
$967,300
Total market value
$1,177,200
Applied tax rate
1.0000
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
Off-Market
Year built
2003
Construction
FRAME
Heating
NONE
Stories
1
Total area
7,300 SF
Lot
0.39 ac (16,988 SF)
Zoning code
DD
APN
01 00613-0000-00003- 01
UPID
US59-3145681
Jurisdiction
UNION
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
DD · Berkeley Heights, NJ
Zoning DD · permitted uses
DD · Berkeley Heights, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Berkeley Heights. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$1.8M
OFFICE BUILDING
Est. value
$1.5M
COMMERCIAL (GENERAL) Current
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
2003
Construction
FRAME
Heating
NONE
Stories
1
Lot
0.39 ac
Current owner
From public records · entity-resolved
Berkeley Springfield Ave LLC
Entity
Mailing address
1267 US HWY 22, MOUNTAINSIDE, NJ 07092-2623
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 19, 2018
$2,600,000
Berkeley Springfield Ave LLC
Berkeley Investor LLC
Grant Deed
related
$2,600,000 · 500 Springfield Realty LLC
May 22, 2017
$2,600,000
Berkeley Investor LLC
500 Springfield Avenue Realty
Grant Deed
$2,600,000 · 500 Springfield Avenue Realty
Mar 10, 2005
$2,600,000
500 Springfield Avenue Realty
Bmt Providence Associates LLC
Grant Deed
—
Jan 8, 2004
$1
Bmt Providence Associates LLC
Massulli-bernardo Assocs LLP
Grant Deed
related
—
Jun 3, 2002
—
Mb Associates
Mb Associates
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.
Try Rey
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