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Property profile & analytics
OFF-MARKET
Estimated value
$31,220,000
Commercial real estate
535 Mtn Ave 603 New Providence, NJ 07974-2014
Entity Owned
13-yr Hold
Free & Clear
Property ID
US59-0548268
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
2016
Total area
151,088 SF
Lot
26.48 ac (1,153,469 SF)
Zoning code
CCRC
APN
11 00320-0000-00017- 01
UPID
US59-0548268
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
by Request
CAP Approach
CAP
$30.68M
Comparable Approach
Comparable
$37.22M
Blend (final)
Blend
$31.22M
Owner & transaction history
Redwood-erc New Providence LLC · 13 yrs held
Redwood-erc New Providence LLC
since 2012
7 recorded transactions
Zoning & alternative use
CCRC · New Providence, NJ
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 New Providence submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs New Providence 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
by Request
CAP Approach
CAP Return
Estimation
6%
$33,240,000
6.5%
$30,680,000
7%
$28,490,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$37,520,000
Current use
OFFICE BUILDING
$30,775,000
Change: -18% · Conversion: Easy
Blend value · Realmo final
$31.22M
Range $28.10M – $34.34M · ±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
$207 / 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
$4,510,269
Tax year 2022
Assessed value
$91,348,100
Assessed 2023
Previous assessed
$91,348,100
+0.0% YoY
Effective rate
4.94%
On assessed value
Assessed land
$9,107,800
Assessed improvement
$82,240,300
Land market value
$9,107,800
Improvement market value
$82,240,300
Total market value
$91,348,100
Applied tax rate
11.0000
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
Year built
2016
Heating
NONE
Stories
2
Total area
151,088 SF
Lot
26.48 ac (1,153,469 SF)
Zoning code
CCRC
APN
11 00320-0000-00017- 01
UPID
US59-0548268
Jurisdiction
UNION
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
CCRC · New Providence, NJZoning CCRC · permitted uses
CCRC · New Providence, 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
COMMERCIAL (GENERAL) Current
Est. value
$37.5M
OFFICE BUILDING
Est. value
$30.8M
COMMERCIAL (GENERAL) 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
2016
Heating
NONE
Stories
2
Lot
26.48 ac
Current owner
From public records · entity-resolved
Redwood-erc New Providence LLC
Entity
Free & Clear · 13 yrs held
Mailing address
PO BOX 92129, SOUTHLAKE, TX 76092-0102
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 2, 2021
—
Redwood Erc New Providence LLC
—
Deed
related
$100,000,000 · Truist Bank
Jul 15, 2020
—
Redwood-erc New Providence LLC
—
Deed
related
$160,000,000 · Lantern Hill INC
Dec 12, 2014
—
Redwood-erc New Providence LLC
—
Grant Deed
related
$160,000,000 · Lantern Hill INC
Sep 18, 2012
$11,850,000
Redwood-erc New Providence LLC
Ht Mountain Avenue Assocs LLC
Grant Deed
—
Oct 13, 2011
—
Erickson Living Properties LLC
Ht Mountain Avenue Associates
Grant Deed
related
—
Jul 22, 2009
$5,675,000
Ht Mountain Avenue Assocs LLC
Gkk K-line LLC
Grant Deed
—
Jul 22, 2009
$9,375,000
Gkk K-line LLC
535 Mountain Avenue Realty LLC
Deed In Lieu Of Foreclosure
related
—
Jan 25, 2006
$19,990,000
535 Mountain Avenue Realty LLC
K Line Realty Nj INC
Deed
—
Mar 22, 1990
$19,250,000
K Line Realty (nj) INC-% R B Mot
Unknown
Grant Deed
—
—
—
Ht Mountain Avenue Assocs LLC
—
Deed Of Trust
related
$4,400,000 · Mariners Bk
—
—
Redwood-erc New Providence LLC
—
Deed Of Trust
related
$30,000,000 · Pnc Bk
—
—
Redwood-erc New Providence LLC
—
Loan Modification
related
$160,000,000 · Lantern Hill INC
—
—
Ht Mountain Ave Assoc LLC
—
Loan Modification
related
$1,900,000 · Mariners 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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