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Property profile & analytics
FOR LEASE
Commercial real estate
52 Millburn Ave Springfield, NJ 07081
Entity Owned
3-yr Hold
Free & Clear
Property ID
US59-2046322
For Lease
1 / 7
$970,000
52 Millburn Ave, Springfield, NJ 07081
View Listing →
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1976
Construction
CONCRETE BLOCKS
Total area
4,908 SF
Lot
0.36 ac (15,599 SF)
APN
17 00101-0000-00044
UPID
US59-2046322
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
$935k
CAP Approach
CAP
$995k
Comparable Approach
Comparable
$864k
Blend (final)
Blend
$970k
Owner & transaction history
52 Millburn Investors LLC · 3 yrs held
52 Millburn Investors LLC
since 2023
Last sale
$999,999
5 recorded transactions
Zoning & alternative use
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 Springfield submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Springfield 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
$925,000
ML approach
$935,000
CAP Approach
CAP Return
Estimation
6%
$1,080,000
6.5%
$995,000
7%
$925,000
Blend value · Realmo final
$970k
Range $873k – $1.07M · ±10% · vs last sale $1,000k (Jan 6 2023)
Last sale anchor
$1,000k
Jan 6 2023
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
$198 / 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
$54,454
Tax year 2022
Assessed value
$2,454,000
Assessed 2023
Previous assessed
$2,454,000
+0.0% YoY
Effective rate
2.22%
On assessed value
Assessed land
$1,227,000
Assessed improvement
$1,227,000
Land market value
$1,227,000
Improvement market value
$1,227,000
Total market value
$2,454,000
Applied tax rate
17.0000
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
For Lease
Year built
1976
Construction
CONCRETE BLOCKS
Heating
NONE
Stories
2
Total area
4,908 SF
Lot
0.36 ac (15,599 SF)
APN
17 00101-0000-00044
UPID
US59-2046322
Jurisdiction
UNION
Metro division
NEWARK-UNION, NJ-PA 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
Building & site characteristics
From public records
Year built
1976
Construction
CONCRETE BLOCKS
Heating
NONE
Stories
2
Lot
0.36 ac
Current owner
From public records · entity-resolved
52 Millburn Investors LLC
Entity
Free & Clear · 3 yrs held
Mailing address
116 US HWY 22ND AVE, NORTH PLAINFIELD, NJ 07060-3872
Ownership since
2023
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
Mar 10, 2023
—
52 Millburn Investors LLC
—
Deed
related
$749,999 · Manasquan Bank
Jan 6, 2023
$999,999
52 Millburn Investors LLC
52 Millburn Ave LLC
Deed
—
Apr 8, 2014
—
52 Millburn Ave LLC
Term Security Corp
Deed
$2,164,500
Jan 23, 2014
$3,550,000
Term Security Corp
52 Millburn Management LLC
Grant Deed
related
—
Nov 27, 2013
$241,158
52 Millburn Management LLC
First Estates Properties 48 L
Grant Deed
$2,200,000 · Agatha Uberoi
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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