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Property profile & analytics
OFF-MARKET
Estimated value
$41,885,000
Industrial properties
903 Murray Rd East Hanover, NJ 07936-2200
Entity Owned
2-yr Hold
Free & Clear
Property ID
US59-1700084
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Total area
236,000 SF
Lot
10.66 ac (464,350 SF)
Zoning code
I-3
APN
10 00096-0000-00065- 05
UPID
US59-1700084
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
-
J&J's Tri-State Delivery Service Logistics Company Freight Service
-
Tireco Distributors™ (Bike/Boat/Book/etc) Store Auto Parts Store
-
Transervice Lease Corporation Trucking Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$40.76M
Comparable Approach
Comparable
$31.51M
Blend (final)
Blend
$41.89M
Owner & transaction history
903 Murray Owner LLC · 2 yrs held
903 Murray Owner LLC
since 2023
Last sale
$42.0M
2 recorded transactions
Zoning & alternative use
I-3 · East Hanover, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$67.2M
+59.4%
Office building
$49.4M
+17.2%
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 East Hanover submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs East Hanover 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
$53,160,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$44,150,000
6.5%
$40,755,000
7%
$37,840,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$42,190,000
Current use
COMMERCIAL (GENERAL)
$67,235,000
Change: +59% · Conversion: Difficult
OFFICE BUILDING
$49,425,000
Change: +17% · Conversion: Difficult
Blend value · Realmo final
$41.89M
Range $37.70M – $46.07M · ±10% · vs last sale $42.00M (Oct 25 2023)
Last sale anchor
$42.00M
Oct 25 2023
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
$177 / 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
$209,659
Tax year 2022
Assessed value
$8,399,800
Assessed 2023
Previous assessed
$8,399,800
+0.0% YoY
Effective rate
2.50%
On assessed value
Assessed land
$3,198,000
Assessed improvement
$5,201,800
Land market value
$3,198,000
Improvement market value
$5,201,800
Total market value
$8,399,800
Applied tax rate
10.0000
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
Heating
NONE
Stories
1
Total area
236,000 SF
Lot
10.66 ac (464,350 SF)
Zoning code
I-3
APN
10 00096-0000-00065- 05
UPID
US59-1700084
Jurisdiction
MORRIS
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
I-3 · East Hanover, NJZoning I-3 · permitted uses
I-3 · East Hanover, NJ
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
INDUSTRIAL (GENERAL) Current
Est. value
$42.2M
COMMERCIAL (GENERAL)
Est. value
$67.2M
OFFICE BUILDING
Est. value
$49.4M
INDUSTRIAL (GENERAL) Current
COMMERCIAL (GENERAL)
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
Heating
NONE
Stories
1
Lot
10.66 ac
Current owner
From public records · entity-resolved
903 Murray Owner LLC
Entity
Free & Clear · 2 yrs held
Mailing address
1585 BROADWAY, NEW YORK, NY 10036-8200
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 25, 2023
$42,000,000
903 Murray Owner LLC
Ue New Hanover Public Warehousing L
Deed
—
Nov 29, 2017
—
Ue New Hanover Public Warehous
—
Grant Deed
related
$40,700,000 · Miscellaneous Ins Co
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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