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Property profile & analytics
OFF-MARKET
Estimated value
$8,890,000
Industrial properties
71 Walsh Dr 91, Parsippany, NJ 07054-1010
Entity Owned
11-yr Hold
Free & Clear
Property ID
US59-1531777
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1986
Construction
TYPE NOT SPECIFIED
Total area
72,954 SF
Lot
12.08 ac (526,205 SF)
Zoning code
SD5A
APN
29 00136-0000-00036- 3
UPID
US59-1531777
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
-
Paige Electric Company Warehouse & Storage
-
SMK Global Industrial Manufacturer Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$8.89M
Owner & transaction history
Tices Properties LLC · 11 yrs held
Tices Properties LLC
since 2015
3 recorded transactions
Zoning & alternative use
SD5A · Parsippany, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$13.6M
+4.5%
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
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
INDUSTRIAL (GENERAL)
$13,040,000
Current use
COMMERCIAL (GENERAL)
$13,630,000
Change: +5% · Conversion: Difficult
Blend value · Realmo final
$8.89M
Range $8.00M – $9.78M · ±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
$122 / 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
$328,354
Tax year 2022
Assessed value
$9,875,300
Assessed 2023
Previous assessed
$9,875,300
+0.0% YoY
Effective rate
3.33%
On assessed value
Assessed land
$1,812,000
Assessed improvement
$8,063,300
Land market value
$1,812,000
Improvement market value
$8,063,300
Total market value
$9,875,300
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
1986
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Total area
72,954 SF
Lot
12.08 ac (526,205 SF)
Zoning code
SD5A
APN
29 00136-0000-00036- 3
UPID
US59-1531777
Jurisdiction
MORRIS
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
SD5A · Parsippany, NJ
Zoning SD5A · permitted uses
SD5A · 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.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$13.0M
COMMERCIAL (GENERAL)
Est. value
$13.6M
INDUSTRIAL (GENERAL) Current
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
Year built
1986
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Lot
12.08 ac
Current owner
From public records · entity-resolved
Tices Properties LLC
Entity
Free & Clear · 11 yrs held
Mailing address
33 COTTERS LN, EAST BRUNSWICK, NJ 08816-2002
Ownership since
2015
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
Jan 21, 2015
—
Tices Properties LLC
Tices Fox Hill Partners LLC
Quit Claim Deed
related
—
Nov 25, 2014
—
Tices Fox Hill Partners LLC
—
Grant Deed
related
$26,000,000 · Miscellaneous Ins Co
Sep 9, 2013
—
Tices Fox Hill Partners LLC
Walsh Drive Associates
Grant Deed
related
$26,000,000 · Pnc 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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