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Property profile & analytics
OFF-MARKET
Estimated value
$1,755,000
Commercial real estate
658 Morris Tpke 666 Short Hills, NJ 07078-2603
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US59-1381699
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1955
Construction
CONCRETE BLOCKS
Total area
10,588 SF
Lot
0.51 ac (22,277 SF)
APN
12 01801-0000-00005
UPID
US59-1381699
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
$1.75M
CAP Approach
CAP
$2.25M
Comparable Approach
Comparable
$2.16M
Blend (final)
Blend
$1.76M
Owner & transaction history
455 Barell LLC · 4 yrs held
455 Barell LLC
since 2022
Last sale
$1.4M
3 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 Short Hills submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Short Hills 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
$1,670,000
ML approach
$1,750,000
CAP Approach
CAP Return
Estimation
6%
$2,435,000
6.5%
$2,250,000
7%
$2,085,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$2,895,000
Change: -7% · Conversion: Moderate
Blend value · Realmo final
$1.76M
Range $1.58M – $1.93M · ±10% · vs last sale $1.36M (Jun 22 2022)
Last sale anchor
$1.36M
Jun 22 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
$166 / 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
$41,242
Tax year 2022
Assessed value
$2,122,600
Assessed 2023
Previous assessed
$2,122,600
+0.0% YoY
Effective rate
1.94%
On assessed value
Assessed land
$879,900
Assessed improvement
$1,242,700
Land market value
$879,900
Improvement market value
$1,242,700
Total market value
$2,122,600
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 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
1955
Construction
CONCRETE BLOCKS
Heating
NONE
Stories
1
Total area
10,588 SF
Lot
0.51 ac (22,277 SF)
APN
12 01801-0000-00005
UPID
US59-1381699
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
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.9M
APARTMENT HOUSE (5+ UNITS)
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
1955
Construction
CONCRETE BLOCKS
Heating
NONE
Stories
1
Lot
0.51 ac
Current owner
From public records · entity-resolved
455 Barell LLC
Entity
Mailing address
285 OLD SHORT HLS RD, SHORT HILLS, NJ 07078-2125
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 22, 2022
$1,355,000
455 Barell LLC
Polli Lorenzi Geissel LLC
Deed
$1,800,000 · Gerardo Buono
Feb 10, 2016
—
Polli Lorenzi Geissel LLC
Lorenzi,elaine
Quit Claim Deed
related
—
Jan 27, 2016
—
Carl Polli
Polli,rita
Quit Claim Deed
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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