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Property profile & analytics
OFF-MARKET
Estimated value
$685,000
Commercial real estate
98 Main St Madison, NJ 07940-1813
Entity Owned
8-yr Hold
Free & Clear
Property ID
US59-3015175
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
2007
Construction
CONCRETE BLOCKS
Total area
5,928 SF
Lot
0.61 ac (26,415 SF)
Zoning code
CBD1
APN
17 01802-0000-00011
UPID
US59-3015175
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
-
Provident Bank Bank Loan Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$470k
CAP Approach
CAP
$670k
Comparable Approach
Comparable
$913k
Blend (final)
Blend
$685k
Owner & transaction history
Sl 98 Main Street LLC · 8 yrs held
Sl 98 Main Street LLC
since 2017
3 recorded transactions
Zoning & alternative use
CBD1 · Madison, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Madison submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Madison 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
$470,000
CAP Approach
CAP Return
Estimation
6%
$725,000
6.5%
$670,000
7%
$620,000
Blend value · Realmo final
$685k
Range $617k – $754k · ±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
$116 / 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
$32,377
Tax year 2022
Assessed value
$1,576,300
Assessed 2023
Previous assessed
$1,576,300
+0.0% YoY
Effective rate
2.05%
On assessed value
Assessed land
$1,147,500
Assessed improvement
$428,800
Land market value
$1,147,500
Improvement market value
$428,800
Total market value
$1,576,300
Applied tax rate
17.0000
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
Year built
2007
Construction
CONCRETE BLOCKS
Heating
NONE
Stories
2
Total area
5,928 SF
Lot
0.61 ac (26,415 SF)
Zoning code
CBD1
APN
17 01802-0000-00011
UPID
US59-3015175
Jurisdiction
MORRIS
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
CBD1 · Madison, NJ
Zoning CBD1 · permitted uses
CBD1 · Madison, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Madison. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
2007
Construction
CONCRETE BLOCKS
Heating
NONE
Stories
2
Lot
0.61 ac
Current owner
From public records · entity-resolved
Sl 98 Main Street LLC
Entity
Free & Clear · 8 yrs held
Mailing address
195 MORRISTOWN RD, BASKING RIDGE, NJ 07920-1650
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 24, 2022
—
Sl 98 Main Street LLC
—
Deed
related
$11,123,000 · Investors Bank
Dec 20, 2017
$2,500,000
Sl 98 Main Street LLC
Provident Bk
Grant Deed
—
Apr 25, 2005
$1,200,000
First Morris Bank & Trust
98 Main Street Associates
Grant Deed
—
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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