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Property profile & analytics
OFF-MARKET
Estimated value
$1,335,000
Industrial properties
700 Parsippany Rd Parsippany, NJ 07054-3712
Entity Owned
2-yr Hold
Free & Clear
Property ID
US59-1158572
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1967
Construction
METAL FRAME
Total area
49,930 SF
Lot
7.27 ac (316,681 SF)
Zoning code
SD3A
APN
29 00739-0000-00002
UPID
US59-1158572
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
-
Metem - A GE Power Business Industrial Manufacturer
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.34M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.33M
Blend (final)
Blend
$1.34M
Owner & transaction history
Ge Vernova Operations LLC · 2 yrs held
Ge Vernova Operations LLC
since 2024
Last sale
$1.3M
3 recorded transactions
Zoning & alternative use
SD3A · Parsippany, NJ
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 Parsippany submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Parsippany 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
$1,335,000
ML approach
$1,335,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.34M
Range $1.20M – $1.47M · ±10% · vs last sale $1.34M (Feb 23 2024)
Last sale anchor
$1.34M
Feb 23 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
$27 / 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
$121,755
Tax year 2022
Assessed value
$3,329,100
Assessed 2023
Previous assessed
$2,775,000
+20.0% YoY
Effective rate
3.66%
On assessed value
Assessed land
$1,090,500
Assessed improvement
$2,238,600
Land market value
$1,090,500
Improvement market value
$2,238,600
Total market value
$3,329,100
Applied tax rate
29.0000
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
1967
Construction
METAL FRAME
Heating
NONE
Stories
1
Total area
49,930 SF
Lot
7.27 ac (316,681 SF)
Zoning code
SD3A
APN
29 00739-0000-00002
UPID
US59-1158572
Jurisdiction
MORRIS
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
SD3A · Parsippany, NJ
Zoning SD3A · permitted uses
SD3A · Parsippany, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Parsippany. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1967
Construction
METAL FRAME
Heating
NONE
Stories
1
Lot
7.27 ac
Current owner
From public records · entity-resolved
Ge Vernova Operations LLC
Entity
Free & Clear · 2 yrs held
Mailing address
58 CHARLES ST, CAMBRIDGE, MA 02141-2128
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 23, 2024
—
Ge Vernova Operations LLC
General Electric Company
Quit Claim Deed
related
—
Apr 11, 2016
$2,764,161
General Electric Co
700 Parsippany Associates
Grant Deed
—
Apr 11, 2016
$1,335,839
General Electric Co
Metem Corp
Grant Deed
—
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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