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Property profile & analytics
OFF-MARKET
Estimated value
$530,000
Gas stations
608 Spg St 622, Elizabeth, NJ 07201-2033
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US59-1242048
Property profile
Verified
Property type
Gas stations
Use group
GAS STATION
Year built
1995
Total area
3,362 SF
Lot
0.63 ac (27,304 SF)
APN
04 00246-0000-00022
UPID
US59-1242048
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
-
King Chicken & Gyro Restaurant
-
ATM (608 Spring Street Delta Services) Atm
-
Delta Gas Station
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$445k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$613k
Blend (final)
Blend
$530k
Owner & transaction history
Ik Realty Group LLC · 7 yrs held
Ik Realty Group LLC
since 2018
4 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 Elizabeth submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Elizabeth 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
$445,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$530k
Range $477k – $583k · ±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
$158 / 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
$38,774
Tax year 2022
Assessed value
$126,800
Assessed 2023
Previous assessed
$126,800
+0.0% YoY
Effective rate
30.58%
On assessed value
Assessed land
$56,200
Assessed improvement
$70,600
Land market value
$56,200
Improvement market value
$70,600
Total market value
$126,800
Applied tax rate
4.0000
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
Gas stations
Use group
GAS STATION
Status
Off-Market
Year built
1995
Heating
NONE
Stories
1
Total area
3,362 SF
Lot
0.63 ac (27,304 SF)
APN
04 00246-0000-00022
UPID
US59-1242048
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
1995
Heating
NONE
Stories
1
Lot
0.63 ac
Current owner
From public records · entity-resolved
Ik Realty Group LLC
Entity
Mailing address
608 SPG ST, ELIZABETH, NJ 07201-2033
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 27, 2018
$1,900,000
Ik Realty Group LLC
Bentley Realty Group INC
Grant Deed
—
Aug 27, 2018
—
Ik Realty Group LLC
—
Deed
related
$1,818,750 · Oceanfirst Bk
Dec 26, 2014
$1,900,000
Ik Realty Group LLC
Bentley Realty Group INC
Deed
—
—
—
Ik Realty Group LLC
—
Deed Of Trust
related
$1,818,750 · Oceanfirst 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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