Entity Owned Property summary
AI-generated overview
This office property is positioned for convenient access to Route 46, I-80, I-287, and I-280, and is located near major hotel properties and dining options in the Parsippany area. The building includes a prominent two-story atrium and a lobby with a two-story atrium design; the lobby and common areas have been recently renovated and an outdoor plaza area has been added. Interior amenities include a full-service cafe, corporate catering support, and a tenant game room and lounge, along with an on-site conferencing and training center. The property provides 24-hour, seven-day access and has on-site management. Parking is available at a stated ratio of 5 spaces per 1,000 square feet. NJ Transit bus service is available at the building with direct access to the Port Authority in New York City.
Property profile
Verified
Property type
Other commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1985
Total area
131,438 SF
Lot
7.98 ac (347,609 SF)
Zoning code
B-1
APN
29 00722-0000-00002
UPID
US59-2117220
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$8.00M
Blend (final)
Blend
$9.81M
Owner & transaction history
since 2026
7 recorded transactions
Zoning & alternative use
B-1 · Parsippany, NJ
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 4 comparables with addresses
Sensitivity value band
Source audit · 6 inputs
PDF export
Analytics Standard · 5 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$9.81M
Value range
$8.82M – $10.79M
±10% around blend
Estimated value / SF
$75 / SF
Confidence
Low
4 county-verified comps
Property data
100
Market benchmarks
100
Comparable evidence
40
$8.82M
blend $9.81M
$10.79M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
131,438 SF
Lot area
7.98 ac
Year built
1985
Stories
5
APN
29 00722-0000-00002
Zoning
B-1
Assessed value
$8,729,900
Annual tax
$293,936
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$5.35M
Weighted, 4 comps · low confidence
Evidence
4 found · 4 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
15.3 mi away · 140,000 SF
22.2 mi away · 92,348 SF
23.5 mi away · 109,528 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$9.81M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 55 sales
$187
-60%
Submarket 107 sales
$211
-65%
County 762 sales
$243
-69%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $75/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Not available
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: replacement-cost inputs are not on file.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 4 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$8.73M
Move the market yield to see immediate price impact.
Value / SF
$66
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$550k
$11.00M
$7.86M
$6.11M
$611k
$12.22M
$8.73M
$6.79M
$672k
$13.44M
$9.60M
$7.47M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
4 found
Low confidence · county-verified
Closest comparable
$7.47M
2.6 mi · Jan 2026 · $73/SF
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$293,936
Tax year 2022
Assessed value
$8,729,900
Assessed 2023
Previous assessed
$8,729,900
+0.0% YoY
Effective rate
3.37%
On assessed value
Assessed land
$5,977,500
Assessed improvement
$2,752,400
Land market value
$5,977,500
Improvement market value
$2,752,400
Total market value
$8,729,900
Applied tax rate
29.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Other commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1985
Heating
NONE
Stories
5
Total area
131,438 SF
Lot
7.98 ac (347,609 SF)
Zoning code
B-1
APN
29 00722-0000-00002
UPID
US59-2117220
Jurisdiction
MORRIS
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
B-1 · Parsippany, NJZoning B-1 · permitted uses
B-1 · Parsippany, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Building & site characteristics
From public records
Year built
1985
Heating
NONE
Stories
5
Lot
7.98 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
B-1
Jurisdiction
Parsippany, NJ
Recorded code
B-1
Ownership Intelligence
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Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
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Owner of record and activity signals are derived from public records and modeled classifications.
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