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Property profile & analytics
OFF-MARKET
Estimated value
$580,000
Office buildings
544 Washington Ave Belleville, NJ 07109-3748
Individually Owned
13-yr Hold
~
Est. High Equity
Property ID
US59-2165894
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1922
Construction
BRICK
Total area
3,192 SF
Lot
0.06 ac (2,500 SF)
APN
01 09001-0000-00021
UPID
US59-2165894
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
-
Judalyn Kaye B. Uy, PT Physician
-
Belleville Knee Pain Alternative Medicine Practice
-
Dr. Michael Chillemi Alternative Medicine Practice
-
Advisor with Stacey Chillemi - NJ | Speaker, Coach, Podcaster Stacey Chillemi, Freehold Life Coach Health Consultant
-
The Chiropractic and Physical Therapy Center of New Jersey Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$450k
CAP Approach
CAP
$800k
Comparable Approach
Comparable
$607k
Blend (final)
Blend
$580k
Owner & transaction history
Michael Chillemi · 13 yrs held
Michael Chillemi
since 2013
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$750,000
+11.9%
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
by Request
ML approach
$450,000
CAP Approach
CAP Return
Estimation
6%
$870,000
6.5%
$800,000
7%
$745,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$670,000
Current use
COMMERCIAL (GENERAL)
$750,000
Change: +12% · Conversion: Easy
Blend value · Realmo final
$580k
Range $522k – $638k · ±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
$182 / 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
$14,214
Tax year 2022
Assessed value
$369,100
Assessed 2023
Previous assessed
$369,100
+0.0% YoY
Effective rate
3.85%
On assessed value
Assessed land
$112,500
Assessed improvement
$256,600
Land market value
$112,500
Improvement market value
$256,600
Total market value
$369,100
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
OFFICE BUILDING
Status
Off-Market
Year built
1922
Construction
BRICK
Heating
NONE
Stories
2
Units
1
Total area
3,192 SF
Lot
0.06 ac (2,500 SF)
APN
01 09001-0000-00021
UPID
US59-2165894
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
$670,000
COMMERCIAL (GENERAL)
Est. value
$750,000
OFFICE BUILDING Current
COMMERCIAL (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
1922
Construction
BRICK
Heating
NONE
Stories
2
Units
1
Lot
0.06 ac
Current owner
From public records · entity-resolved
Michael Chillemi
Individual
Mailing address
544 WASHINGTON AVE, BELLEVILLE, NJ 07109-3748
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 7, 2013
—
Michael Chillemi
Delores Chillemi
Intrafamily Transfer
related
$370,000 · Td Bank NA
Apr 18, 2005
$1
Margherita Michalaki
D & M Financial Corp
Quit Claim Deed
related
—
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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