Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1423 Corlies Ave Neptune City, NJ 07753
    Back to Search
    Property profile & analytics

    1423 Corlies Ave, Neptune City, NJ 07753

    View on Map
    • Retail properties & Spaces
    • 3,358 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 1423 Corlies Ave

    Year built
    1957
    Property type
    Retail properties & Spaces

    Description

    This exceptional investment opportunity presents a well-established auto repair business and its accompanying real estate at 1423 Corlies Avenue in Neptune City, New Jersey. The property boasts 3,358 square feet on a 7,505 square foot lot, built in 1957. The business has enjoyed over three decades of operation, offering a proven track record and established clientele. Included in the sale price of $1,350,000 is the existing auto repair machinery and fixtures, fittings, and equipment (FF&E)

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Neptune City
    County
    Monmouth
    State
    New Jersey
    Longitude
    -74.0294
    Latitude
    40.2092

    Comparable in this City

    • Value Estimation by Request
      4,607 SF

      710 Nj-35

      Restaurants
      710 Nj-35, Neptune City, NJ 07753
      View Details
    • Value Estimation by Request
      17,130 SF

      1820 Corlies Ave

      Medical Office Space
      1820 Corlies Ave, Neptune City, NJ 07753
      View Details
    • Value Estimation by Request

      3601 Nj-66

      Land
      3601 Nj-66, Tinton Falls, NJ 07753
      View Details
    • Value Estimation by Request
      26,870 SF

      4070 Asbury Ave

      Neighborhood centers
      4070 Asbury Ave, Tinton Falls, NJ 07753
      View Details
    • Value Estimation by Request
      8,530 SF

      24 Route 35

      Individual retail properties
      24 Route 35, Neptune City, NJ 07753
      View Details
    • Value Estimation by Request
      1,382 SF

      3430 Nj-66

      Retail properties & Spaces
      3430 Nj-66, Neptune Township, NJ 07753
      View Details

    Similar Nearby for Sale

    • $699,000
      2,782 SF

      Mixed-Use Redevelopment Opportunity Near Route 35

      Value-add mixed-use redevelopment opportunity in high-visibility location near Route 35.
      1324 Corlies Ave, Neptune, NJ 07753
      View Details
    • $1,399,000
      1,382 SF

      Route 66 Commercial Property

      1.27 acres with highway frontage, high traffic, and visibility.
      3430 State Route 66, Neptune, NJ 07753
      View Details
    • $999,999
      1,124 SF

      Retail Buildings on Route 35

      Two buildings with Route 35 frontage in Neptune Township.
      1301 State Route 35, Neptune, NJ 07753
      View Details
    • $999,999
      0.32 Acres

      Route 35 Retail Opportunity

      Two buildings and lot on Route 35 for sale.
      1301 State Route 35, Neptune, NJ 07753
      View Details
    • $1,500,000
      5,400 SF

      Fully Leased Neptune City Strip

      Fully leased commercial strip center in Neptune City, New Jersey.
      306-310 W Sylvania Ave, Neptune City, NJ 07753
      View Details
    • $2,400,000

      Operating Body Shop and Towing

      Turn-key body shop and towing business on a large lot.
      440 Highway 35, Neptune, NJ 07753
      View Details

    Similar Nearby for Lease

    • $1,500 /Mo
      Pending

      Neptune Township Commercial Space

      Upgraded commercial space in Bradley Park area, Neptune Township.
      1410 Corlies Ave, Neptune, NJ 07753
      View Details
    • Contact for pricing
      14,517 SF

      Highway 71 Commercial Space Available

      Renovated warehouse, office, retail space on busy Highway 71.
      111 S Main St, Neptune, NJ 07753
      View Details
    • Contact for pricing
      2,000 SF

      Renovated Retail and Garage Space

      Recently renovated commercial space with office, retail, and warehouse.
      1520 Corlies Ave, Neptune, NJ 07753
      View Details
    • Contact for pricing
      1,590 SF

      Bradley Park Mixed-Use Commercial Space

      Recently upgraded commercial space in Neptune's Bradley Park area.
      1410 Corlies Ave, Neptune, NJ 07753
      View Details
    • Contact for pricing
      13,000 SF

      Versatile Commercial Building in Neptune

      Office, retail, flex space available in high-traffic Monmouth County.
      216 Highway 35, Neptune, NJ 07753
      View Details
    • Contact for pricing
      2,350 SF

      Freestanding Credit Union with Drive-Thru

      Ideally located credit union with high visibility and accessibility.
      2070-2100 Nj-66, Neptune, NJ 07753
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1423 Corlies Ave
    Neptune City, NJ 07753
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1423 Corlies Ave, Neptune City, NJ, 07753
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!