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Property profile & analytics
OFF-MARKET
Estimated value
$18,645,000
Residential income homes
960 Bloomfield Ave Glen Ridge, NJ 07028-1332
Entity Owned
4-yr Hold
Property ID
US59-0567780
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1974
Total area
61,854 SF
Lot
1.75 ac (76,230 SF)
Zoning code
R5
APN
08 00053-0000-00006
UPID
US59-0567780
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
-
Glen Ridge Manor Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$11.84M
CAP Approach
CAP
$15.93M
Comparable Approach
Comparable
$8.94M
Blend (final)
Blend
$18.65M
Owner & transaction history
Glen Ridge Manor Nj LP · 4 yrs held
Glen Ridge Manor Nj LP
since 2021
Last sale
$13.8M
1 recorded transaction
Zoning & alternative use
R5 · Glen Ridge, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
code of ordinances
Top alternative use upside
Commercial (general)
$18.2M
+7.8%
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 Glen Ridge submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Glen Ridge 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
$18,645,000
ML approach
$11,835,000
CAP Approach
CAP Return
Estimation
6%
$17,255,000
6.5%
$15,925,000
7%
$14,790,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$16,915,000
Current use
COMMERCIAL (GENERAL)
$18,235,000
Change: +8% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$13,970,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$18.65M
Range $16.78M – $20.51M · ±10% · vs last sale $13.84M (Sep 20 2021)
Last sale anchor
$13.84M
Sep 20 2021
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
$301 / 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
$239,727
Tax year 2022
Assessed value
$7,279,900
Assessed 2023
Previous assessed
$7,279,900
+0.0% YoY
Effective rate
3.29%
On assessed value
Assessed land
$2,450,000
Assessed improvement
$4,829,900
Land market value
$2,450,000
Improvement market value
$4,829,900
Total market value
$7,279,900
Applied tax rate
8.0000
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
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Status
Off-Market
Year built
1974
Heating
NONE
Stories
3
Units
1
Total area
61,854 SF
Lot
1.75 ac (76,230 SF)
Zoning code
R5
APN
08 00053-0000-00006
UPID
US59-0567780
Jurisdiction
ESSEX
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
R5 · Glen Ridge, NJZoning R5 · permitted uses
R5 · Glen Ridge, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
code of ordinances
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$16.9M
COMMERCIAL (GENERAL)
Est. value
$18.2M
INDUSTRIAL (GENERAL)
Est. value
$14.0M
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
INDUSTRIAL (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
1974
Heating
NONE
Stories
3
Units
1
Lot
1.75 ac
Current owner
From public records · entity-resolved
Glen Ridge Manor Nj LP
Entity
Mailing address
2029 MORRIS AVE, UNION, NJ 07083-6047
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 20, 2021
$13,836,000
Glen Ridge Manor Nj LP
Glen Ridge Manor LLC
Deed
$804,780 · Capital One NA
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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