Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    74-76 Carmer Ave, Unit 76 Belleville, NJ 07109-2841

    • Residential income homes
    • 3,256 SF
    • 0.10 lot acres
    OFF-MARKET
    Value Estimations
    $710,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US59-1822444
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Residential income homes

    Property Details for 74-76 Carmer Ave

    Year built
    1974
    Construction
    FRAME
    Lot size
    0.10 lot acres
    Property size
    3,256 SF
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    01 08402-0000-00017
    APU
    108402000000017

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $490,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $910,000
      6.5%
      $840,000
      7%
      $780,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $472,000
      Market price range: $261k - $570k

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $915,000
      Current use
      COMMERCIAL (GENERAL)
      $765,000
      Change: -16% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Belleville
    County
    Essex
    State
    New Jersey
    Longitude
    -74.1492
    Latitude
    40.8063
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $17,276
    $175,000
    $273,600
    $448,600
    -
    $175,000
    $273,600
    $448,600

    Comparable in this City

    • Value Estimation
      $995,000
      17.50 Acres

      318 Belleville Ave, Unit 332

      APARTMENT HOUSE (UNDER 5 UNITS) • 17.50 Acres
      318 Belleville Ave, Belleville, NJ 07109-1626
      View Details
    • Value Estimation
      $880,000
      3,240 SF

      112 Un Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,240 SF
      112 Un Ave, Belleville, NJ 07109-2062
      View Details
    • Value Estimation
      $1,955,000
      9,156 SF

      61-67 Newcomb St, Unit 67

      APARTMENT HOUSE (UNDER 5 UNITS) • 9,156 SF
      61-67 Newcomb St, Belleville, NJ 07109-4213
      View Details
    • Value Estimation
      $975,000
      4,200 SF

      336-338 Belleville Ave, Unit 338

      APARTMENT HOUSE (UNDER 5 UNITS) • 4,200 SF
      336-338 Belleville Ave, Belleville, NJ 07109-1638
      View Details
    • Value Estimation
      $1,105,000
      5,560 SF

      579-581 Belleville Ave, Unit 581

      APARTMENT HOUSE (UNDER 5 UNITS) • 5,560 SF
      579-581 Belleville Ave, Belleville, NJ 07109-1307
      View Details
    • Value Estimation
      $1,365,000
      7,236 SF

      298-300 Belmont Ave, Unit 300

      APARTMENT HOUSE (UNDER 5 UNITS) • 7,236 SF
      298-300 Belmont Ave, Belleville, NJ 07109-1104
      View Details

    Similar Nearby for Sale

    • $2,000,000
      2,700 SF

      Belleville Multifamily Investment Opportunity

      Modern 6-unit building near transit and amenities.
      55 Watchung Ave, Belleville, NJ 07109
      View Details
    • Contact for pricing
      4,596 SF

      Turnkey Six-Unit Multifamily Property

      Six-unit property in Belleville with value-add potential.
      68 Mill St, Belleville, NJ 07109
      View Details
    • Contact for pricing

      Condo with Two Bedrooms

      Two-bedroom, two-bathroom condo with balcony and included laundry.
      730 Mill St, Belleville, NJ 07109
      View Details
    • $2,000,000
      5,700 SF

      Renovated Multifamily Property in Belleville

      Six-unit multifamily property with modern finishes and desirable amenities.
      220 Passaic Ave, Belleville, NJ 07109
      View Details
    • $325,000

      Belleville Condo with Dedicated Parking

      2-bedroom, 1-bath condo in a convenient Belleville location.
      731 Belleville Ave, Belleville, NJ 07109
      View Details
    • $339,000

      Belleville Condo with Two Parking

      Two-bedroom, one-bath condo with parking in commuter-friendly location.
      21 Barnett Ln, Belleville, NJ 07109
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Remodeled Apartment with Utilities Included

      Remodeled first-floor apartment with modern appliances and all utilities included.
      68 Naples Ave, Belleville, NJ 07109
      View Details
    • $2,500 /Mo

      Spacious Apartment Near Branch Brook

      Freshly painted 3-bedroom apartment near Branch Brook Park.
      75 Fl. 2, Belleville, NJ 07109
      View Details
    • $1,750 /Mo

      Belleville Apartment with Included Utilities

      One-bedroom apartment with heat and hot water included, near transportation.
      148 Newark Ave, Belleville, NJ 07109
      View Details
    • $2,600 /Mo

      Renovated Apartment Near Transportation

      Completely renovated 3-bedroom apartment, convenient for commuters.
      100 William St 1, Belleville, NJ 07109
      View Details
    • Contact for pricing

      Spacious Apartment Near Branch Brook

      Three-bedroom apartment near Branch Brook Park, convenient for city living.
      75 Fl., Belleville, NJ 07109
      View Details
    • $3,350 /Mo

      New Apartment with Modern Amenities

      Spacious 3-bedroom apartment near transportation, shopping, and dining.
      13 Brook St, Belleville, NJ 07109
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    74-76 Carmer Ave, Unit 76
    Belleville, NJ 07109-2841
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!