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Property profile & analytics
OFF-MARKET
Estimated value
$1,115,000
Industrial properties
7 Hoffman Blvd East Orange, NJ 07017
Individually Owned
Absentee Owner
Free & Clear
Property ID
US59-0987874
Property summary
AI-generated overview
This exceptional East Orange, NJ industrial property presents a compelling investment opportunity. Encompassing two buildings on a sizable 18,400 square foot lot, this multi-tenant property boasts a total of 19,815 net rentable square feet, currently 100% occupied by three tenants under a NNN lease structure. The property features 18-foot ceilings, two loading docks, and is zoned for commercial use. With two stories and two units, the asking price is $3,999,999, translating to $201.87 per square foot and $1,500,000 per unit. The current cap rate stands at 8.16%, while the pro-forma cap rate projects to 5.10%, indicating significant value-add potential. The property's strategic location in East Orange offers easy access to major New Jersey highways, making it ideal for both owner-operators and investors seeking a strong return. A pro-forma NOI of $204,000 further underscores the property's financial strength. This is a rare opportunity to acquire a value-add industrial property with substantial upside potential in a prime location. The existing structure provides a solid foundation for future expansion and increased profitability.
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1943
Total area
8,328 SF
Lot
0.28 ac (12,301 SF)
APN
05 00096-0000-00002
UPID
US59-0987874
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
-
Vasco Welding General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.47M
Comparable Approach
Comparable
$736k
Blend (final)
Blend
$1.12M
Owner & transaction history
NOT AVAILABLE FROM DATA SOURCE
NOT AVAILABLE FROM DATA SOURCE
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 East Orange submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs East Orange 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%
$1,590,000
6.5%
$1,470,000
7%
$1,365,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,750,000
Change: -7% · Conversion: Difficult
Blend value · Realmo final
$1.12M
Range $1.00M – $1.23M · ±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
$134 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$21,118
Tax year 2023
Assessed value
$666,600
Assessed 2024
Previous assessed
$666,600
+0.0% YoY
Effective rate
3.17%
On assessed value
Assessed land
$196,800
Assessed improvement
$469,800
Land market value
$196,800
Improvement market value
$469,800
Total market value
$666,600
Applied tax rate
5.0000
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
Off-Market
Year built
1943
Heating
NONE
Stories
1
Units
1
Total area
8,328 SF
Lot
0.28 ac (12,301 SF)
APN
05 00096-0000-00002
UPID
US59-0987874
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
OFFICE BUILDING
Est. value
$1.8M
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
1943
Heating
NONE
Stories
1
Units
1
Lot
0.28 ac
Current owner
From public records · entity-resolved
NOT AVAILABLE FROM DATA SOURCE
Individual
Free & Clear · 0 yrs held
Mailing address
301 WASHINGTON ST, GLEN RIDGE, NJ 07028-2121
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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