Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$1,205,000
Commercial real estate
61 Ridgedale Ave East Hanover, NJ 07936-1105
Entity Owned
4-yr Hold
Free & Clear
Property ID
US59-1898741
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1940
Construction
FRAME
Total area
7,138 SF
Lot
1 ac (43,560 SF)
Zoning code
B-2
APN
10 00096-0000-00097
UPID
US59-1898741
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
-
Hanover Floral (Bike/Boat/Book/etc) Store Florist
-
East Hanover Floral Company (Bike/Boat/Book/etc) Store Florist
-
Elias Sanfelici Gym & Fitness Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.37M
CAP Approach
CAP
$805k
Comparable Approach
Comparable
$906k
Blend (final)
Blend
$1.21M
Owner & transaction history
59 Ridgedale Avenue Investors LLC · 4 yrs held
59 Ridgedale Avenue Investors LLC
since 2022
Last sale
$1.2M
1 recorded transaction
Zoning & alternative use
B-2 · East Hanover, 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 East Hanover submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs East Hanover 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
$1,350,000
ML approach
$1,370,000
CAP Approach
CAP Return
Estimation
6%
$875,000
6.5%
$805,000
7%
$750,000
Blend value · Realmo final
$1.21M
Range $1.08M – $1.33M · ±10% · vs last sale $1.20M (May 19 2022)
Last sale anchor
$1.20M
May 19 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
$169 / 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
$16,960
Tax year 2022
Assessed value
$479,500
Assessed 2023
Previous assessed
$679,500
-29.4% YoY
Effective rate
3.54%
On assessed value
Assessed land
$450,000
Assessed improvement
$29,500
Land market value
$450,000
Improvement market value
$29,500
Total market value
$479,500
Applied tax rate
10.0000
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
1940
Construction
FRAME
Heating
NONE
Stories
1
Total area
7,138 SF
Lot
1 ac (43,560 SF)
Zoning code
B-2
APN
10 00096-0000-00097
UPID
US59-1898741
Jurisdiction
MORRIS
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
B-2 · East Hanover, NJ
Zoning B-2 · permitted uses
B-2 · East Hanover, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
East Hanover. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1940
Construction
FRAME
Heating
NONE
Stories
1
Lot
1 ac
Current owner
From public records · entity-resolved
59 Ridgedale Avenue Investors LLC
Entity
Free & Clear · 4 yrs held
Mailing address
38 DEFOREST AVE, EAST HANOVER, NJ 07936-2809
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 19, 2022
$1,200,000
59 Ridgedale Avenue Investors LLC
Hanover Floral Co
Deed
—
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 61 Ridgedale Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
