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Property profile & analytics
OFF-MARKET
Estimated value
$2,200,000
Commercial real estate
879 Springfield Ave 889 Irvington, NJ 07111-3602
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US59-1005989
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Construction
TYPE NOT SPECIFIED
Total area
7,176 SF
APN
09 00209-0000-00021
UPID
US59-1005989
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
-
Mercy African Fabrics Clothing Store
-
Antoinette African Hair Braiding Center Hair Salon Nail Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.20M
CAP Approach
CAP
$1.53M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.20M
Owner & transaction history
Gl Springfield LLC · 2 yrs held
Gl Springfield LLC
since 2024
Last sale
$2.2M
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.5M
+43.8%
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 Irvington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Irvington 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
$2,200,000
ML approach
$2,200,000
CAP Approach
CAP Return
Estimation
6%
$1,650,000
6.5%
$1,525,000
7%
$1,415,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,505,000
Change: +44% · Conversion: Easy
Blend value · Realmo final
$2.20M
Range $1.98M – $2.42M · ±10% · vs last sale $2.20M (Jun 25 2024)
Last sale anchor
$2.20M
Jun 25 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
$307 / 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
$29,385
Tax year 2022
Assessed value
$473,800
Assessed 2023
Previous assessed
$473,800
+0.0% YoY
Effective rate
6.20%
On assessed value
Assessed land
$273,900
Assessed improvement
$199,900
Land market value
$273,900
Improvement market value
$199,900
Total market value
$473,800
Applied tax rate
9.0000
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
4
Units
1
Total area
7,176 SF
APN
09 00209-0000-00021
UPID
US59-1005989
Jurisdiction
ESSEX
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$1.5M
OFFICE BUILDING
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
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
4
Units
1
Current owner
From public records · entity-resolved
Gl Springfield LLC
Entity
Mailing address
60 S MUNN AVE, EAST ORANGE, NJ 07018-3512
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 25, 2024
$2,200,000
Gl Springfield LLC
Kahr Springfield LLC
Deed
$1,650,000 · Provident Bank
Nov 24, 2010
$1,190,000
Kahr Springfield LLC
Springfield Mgmt Property LLC
Grant Deed
$782,000 · New York Community Bank
Sep 26, 2007
$998,000
Springfield Management Propert
875-879 Springfield Management
Grant Deed
—
—
—
875-879 Springfield Mgmt LLC
—
Deed Of Trust
related
$800,000 · New York Community Bank
—
—
Washington Avenue Mgmt Co LLC
—
Deed Of Trust
related
$350,000 · Trust Co Of New Jersey
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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