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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    101 Tornillo Way Ocean, NJ 07712-7521

    • Industrial properties
    • 27,518 SF
    • 9.91 lot acres
    OFF-MARKET
    Value Estimations
    $4,465,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US59-0778080
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • East Coast Panelboard / Electric Utility Company
    • Software Pro Solutions, Inc. / Business Management Consultant

    Property Details for 101 Tornillo Way

    Year built
    1966
    Construction
    BRICK
    Lot size
    9.91 lot acres
    Property size
    27,518 SF
    Zone code
    IO35
    Property type
    Industrial properties
    APN
    49 00120- 02-00001- 01
    APU
    4900120020000101

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $4,395,000
      6.5%
      $4,060,000
      7%
      $3,770,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $3,295,000
      Market price range: $775k - $3.30M

    • 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

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Ocean
    County
    Monmouth
    State
    New Jersey
    Longitude
    -74.0815
    Latitude
    40.2688
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $91,607
    $3,220,800
    $3,759,400
    $6,980,200
    -
    $3,220,800
    $3,759,400
    $6,980,200

    Comparable in this City

    • Value Estimation by Request
      4.00 Acres

      1113 Nj-35

      Land • 4.00 Acres
      1113 Nj-35, Ocean Township, NJ 07712
      View Details
    • Value Estimation
      $4,280,000
      54,325 SF

      523 Main St

      INDUSTRIAL (GENERAL) • 54,325 SF
      523 Main St, Asbury Park, NJ 07712
      View Details
    • Value Estimation
      $1,240,000
      13,886 SF

      1301 Park Ave

      INDUSTRIAL (GENERAL) • 13,886 SF
      1301 Park Ave, Ocean, NJ 07712-3190
      View Details
    • Value Estimation
      $2,290,000
      27,955 SF

      814 Asbury Ave

      INDUSTRIAL (GENERAL) • 27,955 SF
      814 Asbury Ave, Asbury Park, NJ 07712-6529
      View Details
    • Value Estimation by Request
      23,600 SF

      151 Tornillo Way

      INDUSTRIAL (GENERAL) • 23,600 SF
      151 Tornillo Way, Tinton Falls, NJ 07712-7541
      View Details
    • Value Estimation by Request
      5.82 Acres

      5030 Shafto Rd

      INDUSTRIAL (GENERAL) • 5.82 Acres
      5030 Shafto Rd, Tinton Falls, NJ 07712-7796
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      28,700 SF

      Asbury Park Warehouse For Sale

      28,700 SF warehouse property available in Asbury Park.
      1301 Memorial Dr, Asbury Park, NJ 07712
      View Details
    • $1,795,000
      7,068 SF

      Asbury Park Mixed-Use Investment

      Prime Asbury Park location, 7,068 SF, NNN Lease.
      428 Main St, Asbury Park, NJ 07712
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    • $2,500,000

      Ocean Township Office/Warehouse Space

      10,000 sq. ft. office/warehouse near major highways.
      1304 S Roller Rd, Asbury Park, NJ 07712
      View Details
    • $3,995,000
      Pending

      Asbury Park Mixed-Use Building

      Four-story masonry building in prime location near train station.
      600 Main St, Asbury Park, NJ 07712
      View Details
    • Contact for pricing

      Lakefront Mixed-Use Development Opportunity

      Rare building lot in Asbury Park's Central Business District.
      515 Lake Ave, Asbury Park, NJ 07712
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    • $550,000
      5,730 SF

      Class A Office Space Available

      Class A office space for sale or lease near Route 35.
      802 West Park Ave #302, Asbury Park, NJ 07712
      View Details

    Similar Nearby for Lease

    • $15 SF/Yr
      3,000 SF

      Asbury Park Flex Space

      Ground floor flex space with garage door access available for rent.
      807 Summerfield Ave, Asbury Park, NJ 07712
      View Details
    • Contact for pricing
      26,678 SF

      Tinton Falls Warehouse Space

      26,678 SF warehouse space available for lease.
      5030 Shafto Rd, Tinton Falls, NJ 07712
      View Details
    • Contact for pricing
      106,050 SF

      Industrial Space Available For Lease

      Industrial space available for lease in Tinton Falls, New Jersey.
      1470 Shafto Rd, Tinton Falls, NJ 07712
      View Details
    • $3,500 /Mo
      6,970 SF

      Asbury Park Retail Opportunity

      Flexible retail, office, and warehouse space available in Asbury Park.
      917 3 Ave Unit Bay, Asbury Park, NJ 07712
      View Details
    • $13 SF/Yr
      2,600 SF

      Asbury Park Flex Space

      Flex space near downtown Asbury Park, suitable for various uses.
      807 Summerfield Ave, Asbury Park, NJ 07712
      View Details
    • Contact for pricing
      13,814 SF

      Updated Commercial Building with Offices

      Updated commercial building with medical, retail, and professional office suites.
      1405 Unit, Asbury Park, NJ 07712
      View Details
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    101 Tornillo Way
    Ocean, NJ 07712-7521
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    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
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