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Property profile & analytics
OFF-MARKET
Estimated value
$6,590,000
Commercial real estate
51 Railroad Ave Closter, NJ 07624-1238
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US59-0051662
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Total area
29,488 SF
Lot
1.11 ac (48,352 SF)
APN
07 01206-0000-00018
UPID
US59-0051662
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
-
Northern Valley Baseball Academy Sports Field & Court Sports School
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$6.66M
CAP Approach
CAP
$6.33M
Comparable Approach
Comparable
$6.74M
Blend (final)
Blend
$6.59M
Owner & transaction history
Mwd Associates LLC · 4 yrs held
Mwd Associates LLC
since 2021
Last sale
$5.5M
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$9.7M
+12.2%
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 Closter submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Closter 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
$6,625,000
ML approach
$6,660,000
CAP Approach
CAP Return
Estimation
6%
$6,855,000
6.5%
$6,330,000
7%
$5,875,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$8,635,000
Current use
APARTMENT HOUSE (5+ UNITS)
$9,685,000
Change: +12% · Conversion: Moderate
OFFICE BUILDING
$7,125,000
Change: -17% · Conversion: Easy
Blend value · Realmo final
$6.59M
Range $5.93M – $7.25M · ±10% · vs last sale $5.50M (Dec 15 2021)
Last sale anchor
$5.50M
Dec 15 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
$223 / 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
$120,974
Tax year 2022
Assessed value
$5,632,900
Assessed 2023
Previous assessed
$5,632,900
+0.0% YoY
Effective rate
2.15%
On assessed value
Assessed land
$497,700
Assessed improvement
$5,135,200
Land market value
$497,700
Improvement market value
$5,135,200
Total market value
$5,632,900
Applied tax rate
7.0000
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
Heating
NONE
Total area
29,488 SF
Lot
1.11 ac (48,352 SF)
APN
07 01206-0000-00018
UPID
US59-0051662
Jurisdiction
BERGEN
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$8.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$9.7M
OFFICE BUILDING
Est. value
$7.1M
COMMERCIAL (GENERAL) Current
APARTMENT HOUSE (5+ UNITS)
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
Heating
NONE
Lot
1.11 ac
Current owner
From public records · entity-resolved
Mwd Associates LLC
Entity
Mailing address
51 RAILROAD AVE, CLOSTER, NJ 07624-1238
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 15, 2021
$5,500,000
Mwd Associates LLC
Nyfenger Holdings LLC
Bargain And Sale Deed
$3,850,000 · M & T Bank
Sep 17, 2021
$999,000
Nyenger Holdings LLC
Pnrt Realty LLC
Bargain And Sale Deed
—
Apr 3, 2006
$1,923,349
Pnrt Realty Limited Liability
51 Railroad LLC
Grant Deed
$1,650,000 · 51 Railroad 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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