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Property profile & analytics
OFF-MARKET
Estimated value
$1,205,000
Office Spaces
505 Goffle Rd Ridgewood, NJ 07450-4027
Entity Owned
7-yr Hold
Free & Clear
Property ID
US59-1974236
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
1990
Total area
4,805 SF
Lot
0.11 ac (4,805 SF)
Zoning code
B2
APN
51 02807-0000-00002- 202
UPID
US59-1974236
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
-
Anson Moise, MD Medical Clinic
-
Ivy League Medical Physician
-
Jason Baynes MD Physician
-
Thomas Scilaris, MD Medical Clinic
-
Epperlein Jennifer I DO Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.21M
Comparable Approach
Comparable
$1.41M
Blend (final)
Blend
$1.21M
Owner & transaction history
Jelm LLC · 7 yrs held
Jelm LLC
since 2018
2 recorded transactions
Zoning & alternative use
B2 · Ridgewood, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.4M
+21.2%
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 Ridgewood submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ridgewood 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%
$1,305,000
6.5%
$1,205,000
7%
$1,120,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,160,000
Current use
COMMERCIAL (GENERAL)
$1,405,000
Change: +21% · Conversion: Easy
Blend value · Realmo final
$1.21M
Range $1.08M – $1.33M · ±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
$251 / 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
$31,514
Tax year 2022
Assessed value
$1,153,100
Assessed 2023
Previous assessed
$1,153,100
+0.0% YoY
Effective rate
2.73%
On assessed value
Assessed land
$516,500
Assessed improvement
$636,600
Land market value
$516,500
Improvement market value
$636,600
Total market value
$1,153,100
Applied tax rate
51.0000
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
Office Spaces
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Year built
1990
Heating
NONE
Total area
4,805 SF
Lot
0.11 ac (4,805 SF)
Zoning code
B2
APN
51 02807-0000-00002- 202
UPID
US59-1974236
Jurisdiction
BERGEN
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
B2 · Ridgewood, NJ
Zoning B2 · permitted uses
B2 · Ridgewood, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Ridgewood. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.4M
OFFICE BUILDING 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
1990
Heating
NONE
Lot
0.11 ac
Current owner
From public records · entity-resolved
Jelm LLC
Entity
Free & Clear · 7 yrs held
Mailing address
740 JANE DR, FRANKLIN LAKES, NJ 07417-2927
Mailing matches property
Yes
Owner-occupied
Yes
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 28, 2018
$165,587
Jelm LLC
Valley Hospital INC
Grant Deed
—
—
—
J & J Holdings LLC
—
Deed Of Trust
related
$290,000 · Vnb New York LLC
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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