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Property profile & analytics
OFF-MARKET
Estimated value
$2,050,000
Commercial real estate
10 Lk Dr Island Heights, NJ 08732-7803
Entity Owned
3-yr Hold
Free & Clear
Property ID
US59-1130334
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Construction
FRAME
Total area
3,348 SF
Lot
3.38 ac (147,233 SF)
Zoning code
MRNA
APN
11 00050-0000-00008
UPID
US59-1130334
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
-
Terry's Marine Repair Big Box & Wholesale Store (Bike/Boat/Book/etc) Store
-
Cozy Cove Marina Marina
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.19M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.48M
Blend (final)
Blend
$2.05M
Owner & transaction history
Cozy Cove Marina Company INC · 3 yrs held
Cozy Cove Marina Company INC
since 2023
Last sale
$2.0M
4 recorded transactions
Zoning & alternative use
MRNA · Island Heights, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
It is intended to promote all uses connected with boat building and the furnishing of stores, materials, fittings, facilities and services in regard to pleasure craft, including the open storage of boats and the use of necessary cranes and railways
Zone name
Marina
General category
UNKNOWN
Zone area
12.85 ac
Source
Realmo
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 Island Heights submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Island Heights 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
$2,015,000
ML approach
$2,185,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$2.05M
Range $1.85M – $2.26M · ±10% · vs last sale $2.00M (Jan 23 2023)
Last sale anchor
$2.00M
Jan 23 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
$612 / 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
$36,902
Tax year 2022
Assessed value
$1,821,400
Assessed 2023
Previous assessed
$1,821,400
+0.0% YoY
Effective rate
2.03%
On assessed value
Assessed land
$1,294,500
Assessed improvement
$526,900
Land market value
$1,294,500
Improvement market value
$526,900
Total market value
$1,821,400
Applied tax rate
11.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Construction
FRAME
Heating
NONE
Stories
1
Units
1
Total area
3,348 SF
Lot
3.38 ac (147,233 SF)
Zoning code
MRNA
APN
11 00050-0000-00008
UPID
US59-1130334
Jurisdiction
OCEAN
Metro division
EDISON, NJ METROPOLITAN DIVISION
Zoning & alternative use
MRNA · Island Heights, NJZoning MRNA · permitted uses
MRNA · Island Heights, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
It is intended to promote all uses connected with boat building and the furnishing of stores, materials, fittings, facilities and services in regard to pleasure craft, including the open storage of boats and the use of necessary cranes and railways
Zone name
Marina
General category
UNKNOWN
Zone area
12.85 ac
Source
Realmo
Building & site characteristics
From public records
Construction
FRAME
Heating
NONE
Stories
1
Units
1
Lot
3.38 ac
Current owner
From public records · entity-resolved
Cozy Cove Marina Company INC
Entity
Free & Clear · 3 yrs held
Mailing address
PO BOX 515, PINE BEACH, NJ 08741-0515
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 23, 2023
$2,000,000
Cozy Cove Marina Company INC
Linda Tavares
Bargain And Sale Deed
—
Nov 29, 2022
$2,000,000
Cozy Cove Marina Company INC
Linda Tavares
Bargain And Sale Deed
$1,858,500 · Magyar Bank
Nov 17, 2005
—
Linda Tavares
Tavares,mary
Quit Claim Deed
related
—
Feb 17, 2004
$1
Mary Tavares
Tavares,joseph
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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