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Property profile & analytics
OFF-MARKET
Estimated value
$800,000
Commercial real estate
615 Washington Ave Belleville, NJ 07109-3750
Entity Owned
2-yr Hold
Property ID
US59-2614934
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1882
Construction
FRAME
Total area
4,022 SF
Lot
0.2 ac (8,607 SF)
APN
01 08302-0000-00008
UPID
US59-2614934
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
-
Effective Insurance Solutions Group Inc Insurance Agency
-
gc solutions group Consultant
-
Solutions Multi Service Center LLC Accounting Firm Tax Preparation
-
Solutions For Success LLC Tech Support Center IT Consulting Firm
-
DMAF Apparel (Bike/Boat/Book/etc) Store Printing Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$800k
CAP Approach
CAP
$855k
Comparable Approach
Comparable
$749k
Blend (final)
Blend
$800k
Owner & transaction history
Fairbridge Credit LLC · 2 yrs held
Fairbridge Credit LLC
since 2024
Last sale
$800,000
7 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 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
$800,000
ML approach
$800,000
CAP Approach
CAP Return
Estimation
6%
$925,000
6.5%
$855,000
7%
$795,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$945,000
Current use
OFFICE BUILDING
$845,000
Change: -11% · Conversion: Easy
Blend value · Realmo final
$800k
Range $720k – $880k · ±10% · vs last sale $800k (Oct 23 2024)
Last sale anchor
$800k
Oct 23 2024
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
$199 / 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
$13,163
Tax year 2022
Assessed value
$402,200
Assessed 2023
Previous assessed
$341,800
+17.7% YoY
Effective rate
3.27%
On assessed value
Assessed land
$181,500
Assessed improvement
$220,700
Land market value
$181,500
Improvement market value
$220,700
Total market value
$402,200
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1882
Construction
FRAME
Heating
NONE
Stories
2
Units
2
Total area
4,022 SF
Lot
0.2 ac (8,607 SF)
APN
01 08302-0000-00008
UPID
US59-2614934
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
COMMERCIAL (GENERAL) Current
Est. value
$945,000
OFFICE BUILDING
Est. value
$845,000
COMMERCIAL (GENERAL) Current
OFFICE BUILDING
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
1882
Construction
FRAME
Heating
NONE
Stories
2
Units
2
Lot
0.2 ac
Current owner
From public records · entity-resolved
Fairbridge Credit LLC
Entity
Mailing address
330 POST RD #230, DARIEN, CT 06820-3600
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 8, 2024
$495,000
Fairbridge Credit LLC
Solutions Holdings LLC
Deed
—
Mar 8, 2024
—
Fairbridge Credit LLC
Solutions Holdings LLC
Assignment Of Lease (leasehold Sale)
—
Dec 9, 2021
$550,000
Solutions Holdings LLC
Linda Thomas
Deed
$495,000 · Realfi Real Estate Investment Trust LLC
Dec 14, 2017
—
Linda Thomas
Thomas Wayne K & L S Trust
Quit Claim Deed
related
—
Nov 17, 2006
$250,000
Wayne Thomas
Helwig,doris
Grant Deed
$200,000 · Doris Helwig
—
—
Wayne K Thomas
—
Deed Of Trust
related
$585,000 · Pascack Community Bank
—
—
Linda Thomas
—
Deed Of Trust
related
$233,756 · Lakeland Bk
—
—
Wayne K Thomas
—
Deed Of Trust
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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