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Property profile & analytics
OFF-MARKET Estimated value $2,675,000
Commercial real estate

784 Franklin Ave Franklin Lakes, NJ 07417-1306

12,320 SF 2.04 ac lot Built 1969
Individually Owned 17-yr Hold Absentee Owner ~ Est. High Equity
Property ID
US59-0102232
Property profile
Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Year built 1969
Construction CONCRETE BLOCKS
Total area 12,320 SF
Lot 2.04 ac (88,862 SF)
Zoning code RB
APN 20 01420-0000-00003- 03
UPID US59-0102232
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
  • Michael Loreti Physician
  • Mary Bassman Physician
  • Harjot Singh Physician
  • Paul Kovatis Physician
  • Joel Marrero Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$2.65M
Comparable Approach Comparable
$3.68M
Blend (final) Blend
$2.68M
Owner & transaction history
Franklin Lakes Medical Center · 17 yrs held
Franklin Lakes Medical Center
since 2009
4 recorded transactions
2021
Price N/A
2010
Price N/A
2009
$2.9M
2006
$2.9M
Zoning & alternative use
RB · Franklin Lakes, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

RB-2 Retail Business 2 District. [Added 4-5-2016 by Ord. No. 1668 ] A. The purpose of the RB-2 District is to encourage the development and redevelopment of a compatible mixture of land uses that will complement the RB-1 District with special consideration of the locational significance of properties located at the intersection of Franklin Avenue and Colonia…

Zone name Retail Business District
General category COMMERCIAL
Zone area 48.52 ac
Top alternative use upside
Apartment house (5+ units) $4.0M +12.2%
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