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Property profile & analytics
OFF-MARKET
Estimated value
$1,090,000
Office buildings
524 Un Ave Belleville, NJ 07109-2263
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US59-0924023
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1897
Total area
7,078 SF
Lot
0.35 ac (15,072 SF)
APN
01 07102-0000-00001
UPID
US59-0924023
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
$1.39M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.07M
Blend (final)
Blend
$1.09M
Owner & transaction history
524 Union Avenue LLC · 2 yrs held
524 Union Avenue LLC
since 2023
Last sale
$960,000
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.7M
+11.9%
Industrial (general)
$1.6M
+7.6%
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 Belleville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Belleville 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
$1,330,000
ML approach
$1,390,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,485,000
Current use
COMMERCIAL (GENERAL)
$1,660,000
Change: +12% · Conversion: Easy
INDUSTRIAL (GENERAL)
$1,600,000
Change: +8% · Conversion: Difficult
Blend value · Realmo final
$1.09M
Range $981k – $1.20M · ±10% · vs last sale $960k (Aug 14 2023)
Last sale anchor
$960k
Aug 14 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
$154 / 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
$25,032
Tax year 2022
Assessed value
$650,000
Assessed 2023
Previous assessed
$650,000
+0.0% YoY
Effective rate
3.85%
On assessed value
Assessed land
$304,200
Assessed improvement
$345,800
Land market value
$304,200
Improvement market value
$345,800
Total market value
$650,000
Applied tax rate
1.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
PROFESSIONAL BUILDING
Status
Off-Market
Year built
1897
Heating
NONE
Stories
1
Units
1
Total area
7,078 SF
Lot
0.35 ac (15,072 SF)
APN
01 07102-0000-00001
UPID
US59-0924023
Jurisdiction
ESSEX
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
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.5M
COMMERCIAL (GENERAL)
Est. value
$1.7M
INDUSTRIAL (GENERAL)
Est. value
$1.6M
OFFICE BUILDING Current
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
1897
Heating
NONE
Stories
1
Units
1
Lot
0.35 ac
Current owner
From public records · entity-resolved
524 Union Avenue LLC
Entity
Mailing address
19 AMELIA ST, NORTH CALDWELL, NJ 07006-4155
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 14, 2023
$960,000
524 Union Avenue LLC
Belleville Law Partners LLC
Deed
—
Sep 17, 2020
—
Belleville Law Partners LLC
—
Deed
related
$296,855 · Glen Rock Svgs Bk
—
—
Belleville Law Partners LLC
—
Loan Modification
related
$296,855 · Glen Rock Svgs Bk
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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