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Property profile & analytics
FOR LEASE
Commercial real estate
99 Cherry Hill Rd, Parsippany, NJ 07054
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US59-1709472
For Lease
1 / 2
$22 SF/Yr
99 Cherry Hill Rd, Parsippany, NJ 07054
View Listing →
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1981
Total area
86,430 SF
Lot
8.83 ac (384,722 SF)
Zoning code
ROL
APN
29 00411-0000-00016- 1
UPID
US59-1709472
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
-
Parker + Lynch Employment Agency
-
Special Counsel Employment Agency
-
Roche Miseo Barchetto, LLC Accounting Firm Tax Preparation
-
Royal Coachman Worldwide Airport Shuttle Service Bus And Coach Company
-
Genoa Healthcare Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$9.76M
Comparable Approach
Comparable
$10.45M
Blend (final)
Blend
$8.82M
Owner & transaction history
Cherry Hill Portfolio LLC · 6 yrs held
Cherry Hill Portfolio LLC
since 2020
4 recorded transactions
Zoning & alternative use
ROL · Parsippany, 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 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%
$10,575,000
6.5%
$9,760,000
7%
$9,065,000
Blend value · Realmo final
$8.82M
Range $7.93M – $9.70M · ±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
$102 / 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
$222,020
Tax year 2022
Assessed value
$6,800,000
Assessed 2023
Previous assessed
$6,800,000
+0.0% YoY
Effective rate
3.26%
On assessed value
Assessed land
$4,799,200
Assessed improvement
$2,000,800
Land market value
$4,799,200
Improvement market value
$2,000,800
Total market value
$6,800,000
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 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
For Lease
Year built
1981
Heating
NONE
Stories
3
Total area
86,430 SF
Lot
8.83 ac (384,722 SF)
Zoning code
ROL
APN
29 00411-0000-00016- 1
UPID
US59-1709472
Jurisdiction
MORRIS
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
ROL · Parsippany, NJ
Zoning ROL · permitted uses
ROL · 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.
Building & site characteristics
From public records
Year built
1981
Heating
NONE
Stories
3
Lot
8.83 ac
Current owner
From public records · entity-resolved
Cherry Hill Portfolio LLC
Entity
Mailing address
101 HUDSON ST STE #1703, JERSEY CITY, NJ 07302-3933
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 3, 2021
—
Cherry Hill Portfolio LLC
—
Deed
related
$20,500,000 · The Dime Savings Bank Williamsburgh
Jan 17, 2020
$10,525,000
Cherry Hill Portfolio LLC
Rex 99 Cherry Hill Road Spe Ll
Grant Deed
related
$500,000 · Cerco Cap INC
May 30, 2013
—
1255 Broad Street Spe LLC
—
Deed Of Trust
related
$62,118,000 · Us Bk NA Series 2007-c30 (te)
Jul 21, 2005
$1
Ra 99 Cherry Hill Road LLC
Reckson Operating Partnership
Grant Deed
related
—
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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