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Property profile & analytics
FOR SALE
Commercial real estate
582 Franklin Ave NONE Nutley, NJ 07110
Entity Owned
18-yr Hold
~
Est. High Equity
Property ID
US59-3120096
For Sale
1 / 33
$1,075,000
582 Franklin Ave,Unit NONE, Nutley, NJ 07110
View Listing →
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1950
Total area
3,056 SF
Lot
0.16 ac (7,131 SF)
Zoning code
B-1
APN
16 03200-0000-00012
UPID
US59-3120096
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
-
Options Physical Rehabilitation & SpinalAid Center Rehabilitation Center
-
Options Rehab Nutley Alternative Medicine Practice
-
Dr. Diego Ruiz Alternative Medicine Practice
-
Sharon Dela Cerna Physician
-
Hee Cho Alternative Medicine Practice
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$540k
CAP Approach
CAP
$650k
Comparable Approach
Comparable
$739k
Blend (final)
Blend
$755k
Owner & transaction history
582 Franklin Ave LLC · 18 yrs held
582 Franklin Ave LLC
since 2007
5 recorded transactions
Zoning & alternative use
B-1 · Nutley, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
Permitted uses in B-1 Zoning District. The following uses are permitted in the B-1 Zoning District: A. Professional offices. [Amended 2-19-2019 by Ord. No. 3414 ] B. Business offices. [Amended 2-19-2019 by Ord. No. 3414 ] C. Financial institutions without drive-in facilities. D. Medical laboratories as an accessory use or a principal use, for the testing rel…
Zone name
Professional And Business Offices And Research Laboratories
General category
COMMERCIAL
Zone area
14.12 ac
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 Nutley submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Nutley 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
$540,000
CAP Approach
CAP Return
Estimation
6%
$705,000
6.5%
$650,000
7%
$600,000
Blend value · Realmo final
$755k
Range $680k – $831k · ±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
$247 / 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
$28,138
Tax year 2022
Assessed value
$1,061,600
Assessed 2023
Previous assessed
$728,200
+45.8% YoY
Effective rate
2.65%
On assessed value
Assessed land
$472,600
Assessed improvement
$589,000
Land market value
$472,600
Improvement market value
$589,000
Total market value
$1,061,600
Applied tax rate
16.0000
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
For Sale
Year built
1950
Heating
NONE
Units
1
Total area
3,056 SF
Lot
0.16 ac (7,131 SF)
Zoning code
B-1
APN
16 03200-0000-00012
UPID
US59-3120096
Jurisdiction
ESSEX
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
B-1 · Nutley, NJZoning B-1 · permitted uses
B-1 · Nutley, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
Permitted uses in B-1 Zoning District. The following uses are permitted in the B-1 Zoning District: A. Professional offices. [Amended 2-19-2019 by Ord. No. 3414 ] B. Business offices. [Amended 2-19-2019 by Ord. No. 3414 ] C. Financial institutions without drive-in facilities. D. Medical laboratories as an accessory use or a principal use, for the testing related to the medical care of humans and excluding use of animals for testing or experimentation. E. Neighborhood retail stores and personal and household service establishments, as defined in Article III . No loading or unloading across any sidewalk is permitted. No crating, outdoor display and/or outdoor sales are permitted, except that occasional outdoor sales may be held as provided by Ordinance No. 1845. [1] [1]
Zone name
Professional And Business Offices And Research Laboratories
General category
COMMERCIAL
Zone area
14.12 ac
Building & site characteristics
From public records
Year built
1950
Heating
NONE
Units
1
Lot
0.16 ac
Current owner
From public records · entity-resolved
582 Franklin Ave LLC
Entity
Mailing address
90 SPARTA AVE, SPARTA, NJ 07871-1730
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 17, 2019
—
582 Franklin Ave LLC
—
Deed
related
$410,000 · Td Bk NA
Aug 28, 2007
$950,000
582 Franklin Ave LLC
Laura Realty LLC
Grant Deed
$712,500 · Columbia Bank
—
—
582 Franklin Ave LLC
—
Deed Of Trust
related
—
—
—
582 Franklin Ave LLC
—
Deed Of Trust
related
—
—
—
Laura Realty LLC
—
Deed Of Trust
related
$500,000 · Somerset Hills Bank
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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