Back to Search
Property profile & analytics
FOR LEASE
Commercial real estate
156 Route 45 Mannington, NJ 08079
Entity Owned
3-yr Hold
Free & Clear
Property ID
US59-2137841
For Lease
1 / 50
$1,850/Mo
156 Route 45, Mannington, NJ 08079
View Listing →
Property summary
AI-generated overview
This commercial property at 156 Route 45 in Salem, New Jersey, presents a unique opportunity for businesses seeking high-traffic exposure. Located on a bustling highway, this office space offers excellent visibility for attracting clients and employees. Its proximity to a major hospital makes it particularly attractive to medical and healthcare-related businesses, providing convenient access to medical facilities. Public transportation is also readily available, enhancing accessibility for staff and visitors. The 0.31-acre lot offers potential for expansion or modification. The interior space may be divisible, offering flexibility for tenants with varying needs. While the exact square footage is currently unavailable, the property is zoned commercial, allowing for a wide range of uses. Potential tenants should be aware that utilities are not included and that the property currently contains dust and debris requiring cleanup. This prime location offers a compelling opportunity for businesses seeking a high-visibility, conveniently located office space. Inquire now to learn more about this exciting prospect.
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1980
Construction
BRICK
Total area
1,341 SF
Lot
0.31 ac (13,504 SF)
Zoning code
GC
APN
06 00061-0000-00002
UPID
US59-2137841
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$135k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$105k
Owner & transaction history
156 Route 45 LLC · 3 yrs held
156 Route 45 LLC
since 2023
Last sale
$100,000
1 recorded transaction
Zoning & alternative use
GC · Mannington, 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 Mannington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Mannington 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
$105,000
ML approach
$135,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$105k
Range $95k – $116k · ±10% · vs last sale $100k (May 26 2023)
Last sale anchor
$100k
May 26 2023
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
$78 / 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
$4,698
Tax year 2022
Assessed value
$135,500
Assessed 2023
Previous assessed
$135,500
+0.0% YoY
Effective rate
3.47%
On assessed value
Assessed land
$43,700
Assessed improvement
$91,800
Land market value
$43,700
Improvement market value
$91,800
Total market value
$135,500
Applied tax rate
6.0000
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
For Lease
Year built
1980
Construction
BRICK
Heating
NONE
Stories
1
Total area
1,341 SF
Lot
0.31 ac (13,504 SF)
Zoning code
GC
APN
06 00061-0000-00002
UPID
US59-2137841
Jurisdiction
SALEM
Metro division
WILMINGTON, DE-MD-NJ METROPOLITAN DIVISION
Zoning & alternative use
GC · Mannington, NJZoning GC · permitted uses
GC · Mannington, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1980
Construction
BRICK
Heating
NONE
Stories
1
Lot
0.31 ac
Current owner
From public records · entity-resolved
156 Route 45 LLC
Entity
Free & Clear · 3 yrs held
Mailing address
37 COHOCTON RD, HIGHLAND LAKES, NJ 07422-1413
Ownership since
2023
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
May 26, 2023
$100,000
156 Route 45 LLC
Masud Iqbal
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
