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Property profile & analytics
FOR LEASE
Commercial real estate
769 Northfield Ave, West Orange, NJ 07052
Entity Owned
3-yr Hold
Free & Clear
Property ID
US59-0174451
For Lease
1 / 2
$765,000
769 Northfield Ave, West Orange, NJ 07052
View Listing →
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1976
Construction
BRICK
Lot
4.92 ac (214,315 SF)
Zoning code
B-1
APN
22 00166- 15-00009
UPID
US59-0174451
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$765k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$765k
Owner & transaction history
Altera Development Company LLC · 3 yrs held
Altera Development Company LLC
since 2022
6 recorded transactions
Zoning & alternative use
B-1 · West Orange, 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 West Orange submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs West 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
$765,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$765k
Range $689k – $842k · ±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
—
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
$244,035
Tax year 2022
Assessed value
$5,500,000
Assessed 2023
Previous assessed
$5,500,000
+0.0% YoY
Effective rate
4.44%
On assessed value
Assessed land
$5,000,000
Assessed improvement
$500,000
Land market value
$5,000,000
Improvement market value
$500,000
Total market value
$5,500,000
Applied tax rate
22.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
For Lease
Year built
1976
Construction
BRICK
Heating
NONE
Stories
3
Units
1
Lot
4.92 ac (214,315 SF)
Zoning code
B-1
APN
22 00166- 15-00009
UPID
US59-0174451
Jurisdiction
ESSEX
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
B-1 · West Orange, NJ
Zoning B-1 · permitted uses
B-1 · West Orange, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
West Orange. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1976
Construction
BRICK
Heating
NONE
Stories
3
Units
1
Lot
4.92 ac
Current owner
From public records · entity-resolved
Altera Development Company LLC
Entity
Free & Clear · 3 yrs held
Mailing address
PO BOX 92129, SOUTHLAKE, TX 76092-0102
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 10, 2023
—
Altera 769 LLC
—
Deed
related
$16,300,000 · Wintrust Bank NA
Aug 17, 2022
—
Altera Development Company LLC
Township Of West Orange
Declaration
related
—
Apr 26, 2021
—
Altera 769 LLC
Bluescape Altera Nj LLC
Deed
$12,955,000 · Thorofare Asset Based Lending Reit
Sep 29, 2010
—
769 Associates LLC
—
Deed Of Trust
related
$14,350,000 · Bank Of China
May 25, 2007
—
769 Associates LLC
—
Deed Of Trust
related
$14,350,000 · Bank Of China
—
—
Theresa M Gonnella
—
Deed Of Trust
related
$150,000 · Bank Of America
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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