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Property profile & analytics
OFF-MARKET
Estimated value
$960,000
Office buildings
51-55 Passaic Ave 55, Bloomfield, NJ 07003-4502
Individually Owned
5-yr Hold
~
Est. High Equity
Property ID
US59-1011575
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1929
Total area
5,122 SF
Lot
0.24 ac (10,298 SF)
Zoning code
R-1A
APN
02 01131-0000-00001
UPID
US59-1011575
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
$1.07M
CAP Approach
CAP
$1.29M
Comparable Approach
Comparable
$1.03M
Blend (final)
Blend
$960k
Owner & transaction history
Kamran Tasharofi · 5 yrs held
Kamran Tasharofi
since 2021
Last sale
$779,000
2 recorded transactions
Zoning & alternative use
R-1A · Bloomfield, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$1.4M
+8.1%
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 Bloomfield submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bloomfield 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
$1,050,000
ML approach
$1,065,000
CAP Approach
CAP Return
Estimation
6%
$1,395,000
6.5%
$1,285,000
7%
$1,195,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,295,000
Current use
APARTMENT HOUSE (5+ UNITS)
$1,400,000
Change: +8% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,260,000
Change: -3% · Conversion: Easy
INDUSTRIAL (GENERAL)
$1,155,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$960k
Range $864k – $1.06M · ±10% · vs last sale $779k (Jun 4 2021)
Last sale anchor
$779k
Jun 4 2021
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
$187 / 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
$20,778
Tax year 2022
Assessed value
$648,900
Assessed 2023
Previous assessed
$648,900
+0.0% YoY
Effective rate
3.20%
On assessed value
Assessed land
$182,400
Assessed improvement
$466,500
Land market value
$182,400
Improvement market value
$466,500
Total market value
$648,900
Applied tax rate
2.0000
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 buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1929
Heating
NONE
Units
1
Total area
5,122 SF
Lot
0.24 ac (10,298 SF)
Zoning code
R-1A
APN
02 01131-0000-00001
UPID
US59-1011575
Jurisdiction
ESSEX
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
R-1A · Bloomfield, NJ
Zoning R-1A · permitted uses
R-1A · Bloomfield, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Bloomfield. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.4M
COMMERCIAL (GENERAL)
Est. value
$1.3M
INDUSTRIAL (GENERAL)
Est. value
$1.2M
OFFICE BUILDING Current
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
INDUSTRIAL (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
1929
Heating
NONE
Units
1
Lot
0.24 ac
Current owner
From public records · entity-resolved
Kamran Tasharofi
Individual
Mailing address
2005 SAINT GEORGES AVE, RAHWAY, NJ 07065-2007
Ownership since
2021
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
Jun 4, 2021
$779,000
Kamran Tasharofi
Shrenik O Shah
Deed
$584,250 · Shrenik Shah
Aug 10, 2005
$1
Shah Sushma Trust
Shah,shrenik G & Sushma S
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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