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Property profile & analytics
OFF-MARKET
Estimated value
$2,665,000
Super regional malls
681 Newark Ave R Elizabeth, NJ 07208-3567
Individually Owned
29-yr Hold
~
Est. High Equity
Property ID
US59-1706794
Property profile
Verified
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Total area
19,279 SF
Lot
55 ac (2,395,800 SF)
APN
04 00191-0000-00015
UPID
US59-1706794
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
J&O ChmneyServices General Contractor Renovation Specialist
-
Vizion Presents Theater & Performing Art Venue Nightclub
-
Laundry Factory & Dry Cleaning (Bike/Boat/Book/etc) Store
-
Paradise Wig & Beauty (Bike/Boat/Book/etc) Store Cosmetic Store
-
Dollar Plu$, LLC Discount Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.67M
Owner & transaction history
Newark Ave Center Assoc L P · 29 yrs held
Newark Ave Center Assoc L P
since 1997
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 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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$2,645,000
Change: 0% · Conversion: Difficult
OFFICE BUILDING
$2,295,000
Change: 0% · Conversion: Moderate
COMMERCIAL (GENERAL)
$2,035,000
Change: 0% · Conversion: Easy
Blend value · Realmo final
$2.67M
Range $2.40M – $2.93M · ±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
$138 / 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
$112,439
Tax year 2022
Assessed value
$350,000
Assessed 2023
Previous assessed
$350,000
+0.0% YoY
Effective rate
32.13%
On assessed value
Assessed land
$170,200
Assessed improvement
$179,800
Land market value
$170,200
Improvement market value
$179,800
Total market value
$350,000
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
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
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Status
Off-Market
Heating
NONE
Total area
19,279 SF
Lot
55 ac (2,395,800 SF)
APN
04 00191-0000-00015
UPID
US59-1706794
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
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$2.6M
OFFICE BUILDING
Est. value
$2.3M
COMMERCIAL (GENERAL)
Est. value
$2.0M
RESTAURANT
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
Heating
NONE
Lot
55 ac
Current owner
From public records · entity-resolved
Newark Ave Center Assoc L P
Individual
Mailing address
27 HORSENECK RD3RD41, FAIRFIELD, NJ 07004-2487
Ownership since
1997
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 10, 1997
$1,050,000
Newark Ave Center Assoc L P
Mayfair,super Ma
Grant Deed
—
—
—
Newark Avenue Center Assocs LP
—
Deed Of Trust
related
$1,500,000 · Lakeland Bank
—
—
Newark Ave Center Assoc LP
—
Deed Of Trust
related
$1,250,000 · Sussex Bank
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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