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Property profile & analytics
OFF-MARKET
Estimated value
$13,580,000
Hotels
909 Parsippany Blvd Parsippany, NJ 07054-1277
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US59-0768586
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1987
Total area
184,993 SF
Lot
8.38 ac (364,815 SF)
Zoning code
POD
APN
29 00420-0000-00002
UPID
US59-0768586
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
-
Bistecca Restaurant
-
Embassy Suites by Hilton Parsippany Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$15.88M
Comparable Approach
Comparable
$11.29M
Blend (final)
Blend
$13.58M
Owner & transaction history
909 Parsippany Blvd LLC · 6 yrs held
909 Parsippany Blvd LLC
since 2019
7 recorded transactions
Zoning & alternative use
POD · Parsippany, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$20.6M
+53.4%
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 Parsippany submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Parsippany 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
by Request
CAP Approach
CAP Return
Estimation
6%
$17,205,000
6.5%
$15,880,000
7%
$14,745,000
Alternative Use
Use
Estimation
HOTEL/MOTEL
$13,425,000
Current use
COMMERCIAL (GENERAL)
$20,590,000
Change: +53% · Conversion: Difficult
Blend value · Realmo final
$13.58M
Range $12.22M – $14.94M · ±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
$73 / 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
$551,236
Tax year 2022
Assessed value
$16,883,200
Assessed 2023
Previous assessed
$16,883,200
+0.0% YoY
Effective rate
3.26%
On assessed value
Assessed land
$6,281,300
Assessed improvement
$10,601,900
Land market value
$6,281,300
Improvement market value
$10,601,900
Total market value
$16,883,200
Applied tax rate
29.0000
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
1987
Heating
NONE
Total area
184,993 SF
Lot
8.38 ac (364,815 SF)
Zoning code
POD
APN
29 00420-0000-00002
UPID
US59-0768586
Jurisdiction
MORRIS
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
POD · Parsippany, NJ
Zoning POD · permitted uses
POD · Parsippany, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Parsippany. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$13.4M
COMMERCIAL (GENERAL)
Est. value
$20.6M
HOTEL/MOTEL Current
COMMERCIAL (GENERAL)
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
Year built
1987
Heating
NONE
Lot
8.38 ac
Current owner
From public records · entity-resolved
909 Parsippany Blvd LLC
Entity
Mailing address
2035 STATE RTE 27STE2150, EDISON, NJ 08817-3351
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 18, 2019
$20,560,000
909 Parsippany Blvd LLC
909 Parsippany Blvd Owner LLC
Grant Deed
$18,900,000 · Edison Equities LLC
Jun 26, 2019
$16,580,000
Parsippany Boulevard Owner LLC
Parsippany Hotel Owner LLC
Grant Deed
—
Jul 29, 2014
$16,501,934
Parsippany Hotel Owner LLC
Promus Of Felcor
Grant Deed
$64,000,000 · Bank Of America
Dec 30, 2009
—
Promus Ven
Promus & Felcor Parsippany Ven
Quit Claim Deed
related
—
—
—
Promus Of Felcor Hotels LLC
—
Loan Modification
related
—
—
—
Promus Of Felcor Hotels LLC
—
Loan Modification
related
—
—
—
Promus Of Felcor Hotels LLC
—
Deed Of Trust
related
—
—
—
Promus Of Felcor Parsippany Ventu
—
Deed Of Trust
related
$140,000 · 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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