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Property profile & analytics
OFF-MARKET
Estimated value
$565,000
Residential income homes
52 Norma Ave Somerset, NJ 08873-3166
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US59-1983833
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1928
Construction
BRICK
Total area
2,512 SF
Lot
0.29 ac (12,500 SF)
Zoning code
OP
APN
08 00234-0000-00008
UPID
US59-1983833
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
$440k
CAP Approach
CAP
$550k
Comparable Approach
Comparable
$706k
Blend (final)
Blend
$565k
Owner & transaction history
52 Norma LLC · 4 yrs held
52 Norma LLC
since 2021
7 recorded transactions
Zoning & alternative use
OP · Somerset, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$480,000
+8.4%
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 Somerset submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Somerset 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
$440,000
CAP Approach
CAP Return
Estimation
6%
$600,000
6.5%
$550,000
7%
$510,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$445,000
Current use
OFFICE BUILDING
$480,000
Change: +8% · Conversion: Moderate
Blend value · Realmo final
$565k
Range $509k – $622k · ±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
$225 / 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
$20,480
Tax year 2022
Assessed value
$1,200,000
Assessed 2023
Previous assessed
$1,200,000
+0.0% YoY
Effective rate
1.71%
On assessed value
Assessed land
$400,000
Assessed improvement
$800,000
Land market value
$400,000
Improvement market value
$800,000
Total market value
$1,200,000
Applied tax rate
8.0000
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
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Status
Off-Market
Year built
1928
Construction
BRICK
Heating
NONE
Stories
1
Units
1
Total area
2,512 SF
Lot
0.29 ac (12,500 SF)
Zoning code
OP
APN
08 00234-0000-00008
UPID
US59-1983833
Jurisdiction
SOMERSET
Metro division
EDISON, NJ METROPOLITAN DIVISION
Zoning & alternative use
OP · Somerset, NJZoning OP · permitted uses
OP · Somerset, NJ
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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$445,000
OFFICE BUILDING
Est. value
$480,000
APARTMENT HOUSE (5+ UNITS) Current
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
Year built
1928
Construction
BRICK
Heating
NONE
Stories
1
Units
1
Lot
0.29 ac
Current owner
From public records · entity-resolved
52 Norma LLC
Entity
Mailing address
1180 SAINT GEORGES AVE APT #3, AVENEL, NJ 07001-1279
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
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 15, 2021
—
52 Norma LLC
Meridian Developers LLC
Deed
$750,000 · Td Bank NA
Apr 3, 2019
—
Meridian Developers LLC
Meridian Developers LLC
Quit Claim Deed
related
—
Dec 18, 2017
$165,000
Meridian Developers LLC
Truman 2013 Sc3 Title Trct
Grant Deed
—
Nov 10, 2016
$1,000
Truman 2013 Sc3 Title Trust
Sheriff Of Somerset County|coker,okanlawon & Iyabo
Trustees Deed
related
—
Jul 11, 2006
$100
Redeemed Christian Church Of God
Coker,okanlawon
Quit Claim Deed
related
—
Jan 5, 2006
$550,000
Okanlawon Coker
Arinzeh,julius & Mabel
Grant Deed
$440,000 · Countrywide Home Loans INC
Dec 9, 2004
$190,000
Julius C Arinzeh
Tomaro,ritamariel
Grant Deed
—
—
—
Julius C Arinzeh
—
Deed Of Trust
related
$228,700 · Washington Mutual Fsb
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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