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Property profile & analytics
OFF-MARKET
Estimated value
$4,465,000
Industrial properties
101 Tornillo Way Ocean, NJ 07712-7521
Entity Owned
26-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US59-0778080
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1966
Construction
BRICK
Total area
27,518 SF
Lot
9.91 ac (431,680 SF)
Zoning code
IO35
APN
49 00120- 02-00001- 01
UPID
US59-0778080
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
-
East Coast Panelboard Electric Utility Company
-
Software Pro Solutions, Inc. Business Management Consultant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.06M
Comparable Approach
Comparable
$3.30M
Blend (final)
Blend
$4.47M
Owner & transaction history
Tormee Company · 26 yrs held
Tormee Company
since 2000
4 recorded transactions
Zoning & alternative use
IO35 · Ocean, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$7.3M
+28.2%
Commercial (general)
$7.0M
+23.7%
Office building
$6.8M
+19.6%
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 Ocean submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ocean 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%
$4,395,000
6.5%
$4,060,000
7%
$3,770,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$5,670,000
Current use
APARTMENT HOUSE (5+ UNITS)
$7,275,000
Change: +28% · Conversion: Difficult
COMMERCIAL (GENERAL)
$7,015,000
Change: +24% · Conversion: Difficult
OFFICE BUILDING
$6,785,000
Change: +20% · Conversion: Difficult
Blend value · Realmo final
$4.47M
Range $4.02M – $4.91M · ±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
$162 / 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
$91,607
Tax year 2022
Assessed value
$6,980,200
Assessed 2023
Previous assessed
$6,980,200
+0.0% YoY
Effective rate
1.31%
On assessed value
Assessed land
$3,220,800
Assessed improvement
$3,759,400
Land market value
$3,220,800
Improvement market value
$3,759,400
Total market value
$6,980,200
Applied tax rate
49.0000
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1966
Construction
BRICK
Heating
NONE
Buildings
1
Stories
1
Total area
27,518 SF
Lot
9.91 ac (431,680 SF)
Zoning code
IO35
APN
49 00120- 02-00001- 01
UPID
US59-0778080
Jurisdiction
MONMOUTH
Metro division
EDISON, NJ METROPOLITAN DIVISION
Zoning & alternative use
IO35 · Ocean, NJZoning IO35 · permitted uses
IO35 · Ocean, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$5.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$7.3M
COMMERCIAL (GENERAL)
Est. value
$7.0M
OFFICE BUILDING
Est. value
$6.8M
INDUSTRIAL (GENERAL) Current
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1966
Construction
BRICK
Heating
NONE
Stories
1
Buildings
1
Lot
9.91 ac
Current owner
From public records · entity-resolved
Tormee Company
Entity
Mailing address
310 CUTTER LN, MANTOLOKING, NJ 08738-1008
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2000
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
May 21, 2019
—
Swp Real Estate LLC
—
Deed
related
$6,250,000 · Investors Bk
May 30, 2000
$3,300,000
Tormee Company
Tennsco Corp
Grant Deed
$1,000,000 · Private Individual
May 23, 2000
$765
County Of Monmouth
Tennsco Corp
Grant Deed
related
—
—
—
Swp Real Estate LLC
—
Deed Of Trust
related
$6,250,000 · Investors Bk
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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