Entity Owned Property summary
AI-generated overview
A 2,400-square-foot office space in the Morristown Medical Arts Building, accessed from Elm Street and South Street. The interior layout includes 7 exam rooms with sinks, 3 offices, a large waiting room, and a reception/check-in and check-out area. The space also includes a private, handicap-accessible restroom and a utility room with a sink. The building area has been finished with updated interior surfaces and systems, including fresh paint, new flooring, ceiling tiles, and lighting. The property includes on-site parking, and is situated within walking distance of retail, shops, and banking, near Morristown Medical Center.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1952
Total area
29,680 SF
Lot
2.18 ac (95,048 SF)
Zoning code
CBD
APN
24 04601-0000-00013
UPID
US59-0057737
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.03M
Blend (final)
Blend
$4.46M
Owner & transaction history
since 2018
4 recorded transactions
Zoning & alternative use
CBD · Morristown, NJ
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
2 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
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Summary
1
Valuation conclusion
Included free
Estimated market value
$4.46M
Value range
$4.01M – $4.91M
±10% around blend
Estimated value / SF
$150 / SF
Confidence
Property data
100
Market benchmarks
33
Comparable evidence
60
$4.01M
blend $4.46M
$4.91M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
29,680 SF
Lot area
2.18 ac
Year built
1952
Stories
1
APN
24 04601-0000-00013
Zoning
CBD
Assessed value
$4,500,000
Annual tax
$134,685
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$5.03M
Range $5.03M – $7.91M
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$4.46M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
County 56 sales
$209
-28%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $150/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Not available
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: replacement-cost inputs are not on file.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
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Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$4.50M
Move the market yield to see immediate price impact.
Value / SF
$152
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$284k
$5.67M
$4.05M
$3.15M
$315k
$6.30M
$4.50M
$3.50M
$347k
$6.93M
$4.95M
$3.85M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$134,685
Tax year 2022
Assessed value
$4,500,000
Assessed 2023
Previous assessed
$4,500,000
+0.0% YoY
Effective rate
2.99%
On assessed value
Assessed land
$3,765,000
Assessed improvement
$735,000
Land market value
$3,765,000
Improvement market value
$735,000
Total market value
$4,500,000
Applied tax rate
24.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1952
Heating
NONE
Stories
1
Total area
29,680 SF
Lot
2.18 ac (95,048 SF)
Zoning code
CBD
APN
24 04601-0000-00013
UPID
US59-0057737
Jurisdiction
MORRIS
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
CBD · Morristown, NJZoning CBD · permitted uses
CBD · Morristown, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1952
Heating
NONE
Stories
1
Lot
2.18 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
CBD
Jurisdiction
Morristown, NJ
Recorded code
CBD
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for CBD in Morristown, NJ.
What opens after registration
Zoning profile
2 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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