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    Property profile & analytics

    509 Berckman St Plainfield, NJ 07062-1809

    • Industrial properties
    • 1,800 SF
    • 0.05 lot acres
    OFF-MARKET
    Last Sale
    Apr 07, 2022
    $325,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US59-1367494
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • A Little Shop of Comics / (Bike/Boat/Book/etc) Store
    • Ruedi Kuhn's Woodshop / General Contractor / Renovation Specialist

    Property Details for 509 Berckman St

    Year built
    1920
    Construction
    CONCRETE BLOCKS
    Lot size
    0.05 lot acres
    Property size
    1,800 SF
    Zone code
    R-4
    Property type
    Industrial properties
    APN
    12 00617-0000-00013
    APU
    1200617000000013

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Plainfield
    County
    Union
    State
    New Jersey
    Longitude
    -74.4088
    Latitude
    40.6242
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $8,705
    $12,000
    $88,000
    $100,000
    -
    $12,000
    $88,000
    $100,000

    Comparable in this City

    • Value Estimation
      $715,000
      3,977 SF

      926 Nn Ave, Unit 1018

      INDUSTRIAL (GENERAL) • 3,977 SF
      926 Nn Ave, Plainfield, NJ 07062-1621
      View Details
    • Value Estimation by Request
      2,840 SF

      757 Nn Ave, Unit 59

      INDUSTRIAL (GENERAL) • 2,840 SF
      757 Nn Ave, Plainfield, NJ 07062-1616
      View Details
    • Value Estimation
      $885,000
      8,500 SF

      943 Ss Ave, Unit 45

      INDUSTRIAL (GENERAL) • 8,500 SF
      943 Ss Ave, Plainfield, NJ 07062-1832
      View Details
    • Value Estimation
      $725,000
      5,100 SF

      1212 Nn Ave, Unit 18

      INDUSTRIAL (GENERAL) • 5,100 SF
      1212 Nn Ave, Plainfield, NJ 07062-1725
      View Details
    • Value Estimation
      $900,000
      5,292 SF

      712 Nn Ave, Unit 58

      INDUSTRIAL (GENERAL) • 5,292 SF
      712 Nn Ave, Plainfield, NJ 07062-1617
      View Details
    • Value Estimation
      $1,405,000
      864 SF

      700 Nn Ave, Unit 10

      INDUSTRIAL (GENERAL) • 864 SF
      700 Nn Ave, Plainfield, NJ 07062-1617
      View Details

    Similar Nearby for Sale

    • $65,000

      Plainfield City Retail/Distribution Business

      Established retail and distribution business opportunity in Plainfield City.
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      20,000 SF

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    • New
      $630,000
      0.28 Acres

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      Well-maintained two-family home in Plainfield, NJ with strong rental income.
      1224 E 2Nd St, Plainfield, NJ 07062
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    • $400,000

      Plainfield Commercial Land Opportunity

      Commercial building on a double lot with development potential.
      814-20 E 3Rd St, Plainfield, NJ 07062
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    Similar Nearby for Lease

    • Contact for pricing
      40,000 SF

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      Industrial property featuring drive-in door and ample parking.
      800-1000 S 2Nd St, Plainfield, NJ 07062
      View Details
    • $3,600 /Mo

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      Highly visible 1,700 SF storefront for lease in Plainfield City.
      1369 South Ave, Plainfield, NJ 07062
      View Details
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    509 Berckman St
    Plainfield, NJ 07062-1809
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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