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Property profile & analytics
OFF-MARKET
Estimated value
$7,150,000
Industrial properties
550 Central Ave 570 New Providence, NJ 07974-1505
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US59-1446227
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1945
Construction
BRICK
Total area
91,844 SF
Lot
6.6 ac (287,365 SF)
APN
11 00222-0000-00002
UPID
US59-1446227
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
$7.81M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.85M
Blend (final)
Blend
$7.15M
Owner & transaction history
Cronheim LLC · 3 yrs held
Cronheim LLC
since 2022
Last sale
$6.6M
6 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 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
$7,825,000
ML approach
$7,810,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$7.15M
Range $6.44M – $7.87M · ±10% · vs last sale $6.63M (Sep 1 2022)
Last sale anchor
$6.63M
Sep 1 2022
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
$78 / 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
$246,900
Tax year 2022
Assessed value
$5,000,000
Assessed 2023
Previous assessed
$5,000,000
+0.0% YoY
Effective rate
4.94%
On assessed value
Assessed land
$922,400
Assessed improvement
$4,077,600
Land market value
$922,400
Improvement market value
$4,077,600
Total market value
$5,000,000
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1945
Construction
BRICK
Heating
NONE
Stories
1
Total area
91,844 SF
Lot
6.6 ac (287,365 SF)
APN
11 00222-0000-00002
UPID
US59-1446227
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
1945
Construction
BRICK
Heating
NONE
Stories
1
Lot
6.6 ac
Current owner
From public records · entity-resolved
Cronheim LLC
Entity
Mailing address
205 MAIN ST, CHATHAM, NJ 07928-2451
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 6, 2024
—
Rc Central Ave Associates LLC
—
Deed
related
$500,000 · American United Life Insurance Company
Jun 29, 2023
—
Rc Central Ave Associates LLC
—
Deed
related
$3,250,000 · Snowpoint Capital Reit INC
Sep 1, 2022
$6,630,000
Cronheim LLC
Rc Central Ave Associates LLC
Deed
—
Jun 21, 2001
—
Rc-central Ave Associates LLC
Central Avenue Associates
Quit Claim Deed
related
—
—
—
Rc-central Ave Associates LLC
—
Deed Of Trust
related
$5,000,000 · American United Life Ins Co
—
—
Rc-central Ave Associates LLC
—
Deed Of Trust
related
$4,500,000 · American United Life Ins Co
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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