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Property profile & analytics
FOR LEASE
Industrial properties
657 Union Blvd, Totowa, NJ 07512
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US59-1330610
For Lease
$8,350,000
657 Union Blvd, Totowa, NJ 07512
View Listing →
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1980
Construction
CONCRETE BLOCKS
Total area
53,094 SF
Lot
3.5 ac (152,460 SF)
APN
12 00145- 01-00002
UPID
US59-1330610
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
$8.35M
CAP Approach
CAP
$9.29M
Comparable Approach
Comparable
$8.66M
Blend (final)
Blend
$8.35M
Owner & transaction history
657 Union Owner Limited Partnership · 2 yrs held
657 Union Owner Limited Partnership
since 2024
Last sale
$8.4M
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$9.8M
+0.0%
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 Totowa submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Totowa 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
$8,350,000
ML approach
$8,350,000
CAP Approach
CAP Return
Estimation
6%
$10,060,000
6.5%
$9,290,000
7%
$8,625,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$9,775,000
Current use
OFFICE BUILDING
$9,775,000
Change: +0% · Conversion: Difficult
COMMERCIAL (GENERAL)
$9,375,000
Change: -4% · Conversion: Difficult
Blend value · Realmo final
$8.35M
Range $7.52M – $9.19M · ±10% · vs last sale $8.35M (Mar 28 2024)
Last sale anchor
$8.35M
Mar 28 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
$157 / 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
$93,863
Tax year 2022
Assessed value
$3,850,000
Assessed 2023
Previous assessed
$3,850,000
+0.0% YoY
Effective rate
2.44%
On assessed value
Assessed land
$2,187,500
Assessed improvement
$1,662,500
Land market value
$2,187,500
Improvement market value
$1,662,500
Total market value
$3,850,000
Applied tax rate
12.0000
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
For Lease
Year built
1980
Construction
CONCRETE BLOCKS
Heating
NONE
Stories
1
Total area
53,094 SF
Lot
3.5 ac (152,460 SF)
APN
12 00145- 01-00002
UPID
US59-1330610
Jurisdiction
PASSAIC
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ 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
INDUSTRIAL (GENERAL) Current
Est. value
$9.8M
OFFICE BUILDING
Est. value
$9.8M
COMMERCIAL (GENERAL)
Est. value
$9.4M
INDUSTRIAL (GENERAL) Current
OFFICE BUILDING
COMMERCIAL (GENERAL)
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
1980
Construction
CONCRETE BLOCKS
Heating
NONE
Stories
1
Lot
3.5 ac
Current owner
From public records · entity-resolved
657 Union Owner Limited Partnership
Entity
Mailing address
80 SAINT MARKS AVE APT 3A, BROOKLYN, NY 11217-2469
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 28, 2024
$8,350,000
657 Union Owner Limited Partnership
657 Union Partnership Ltd
Deed
$6,789,500 · Ready Capital Corp
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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