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Property profile & analytics
OFF-MARKET
Estimated value
$8,910,000
Commercial real estate
105 Riv Ave Lakewood, NJ 08701-4267
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US59-0037903
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1990
Construction
CONCRETE BLOCKS
Total area
36,666 SF
Lot
11.6 ac (505,283 SF)
Zoning code
R75
APN
15 00758-0000-00001
UPID
US59-0037903
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
-
Northern State Bank Bank Loan Service
-
First Commerce Bank Bank Loan Service
-
Comprehensive Health Care Medical Clinic
-
Lancz Ronald MD Physician
-
OrthoStep Clothing & Fashion Store (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$6.52M
Comparable Approach
Comparable
$5.97M
Blend (final)
Blend
$8.91M
Owner & transaction history
First Commerce R & E Holdings Ll · 9 yrs held
First Commerce R & E Holdings Ll
since 2016
Last sale
$9.0M
7 recorded transactions
Zoning & alternative use
R75 · Lakewood, 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 Lakewood submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lakewood 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%
$7,060,000
6.5%
$6,515,000
7%
$6,050,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$10,990,000
Current use
APARTMENT HOUSE (5+ UNITS)
$10,400,000
Change: -5% · Conversion: Moderate
Blend value · Realmo final
$8.91M
Range $8.02M – $9.80M · ±10% · vs last sale $9.00M (Dec 4 2024)
Last sale anchor
$9.00M
Dec 4 2024
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
$243 / 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
$208,627
Tax year 2022
Assessed value
$9,142,300
Assessed 2023
Previous assessed
$9,142,300
+0.0% YoY
Effective rate
2.28%
On assessed value
Assessed land
$7,823,300
Assessed improvement
$1,319,000
Land market value
$7,823,300
Improvement market value
$1,319,000
Total market value
$9,142,300
Applied tax rate
15.0000
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
Off-Market
Year built
1990
Construction
CONCRETE BLOCKS
Heating
NONE
Stories
2
Units
1
Total area
36,666 SF
Lot
11.6 ac (505,283 SF)
Zoning code
R75
APN
15 00758-0000-00001
UPID
US59-0037903
Jurisdiction
OCEAN
Metro division
EDISON, NJ METROPOLITAN DIVISION
Zoning & alternative use
R75 · Lakewood, NJZoning R75 · permitted uses
R75 · Lakewood, 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
COMMERCIAL (GENERAL) Current
Est. value
$11.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$10.4M
COMMERCIAL (GENERAL) Current
APARTMENT HOUSE (5+ UNITS)
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
1990
Construction
CONCRETE BLOCKS
Heating
NONE
Stories
2
Units
1
Lot
11.6 ac
Current owner
From public records · entity-resolved
First Commerce R & E Holdings Ll
Entity
Mailing address
105 RIV AVE, LAKEWOOD, NJ 08701-4267
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 21, 2016
$8,750,000
First Commerce R & E Holdings Ll
105 River Avenue LLC
Grant Deed
related
—
Sep 13, 2006
—
105 River Avenue LLC
105 River Avenue Associates LLC
Bargain And Sale Deed
$6,545,000 · Investors Savings Bank
Jan 31, 2006
—
Mark Engel
Engel,mark
Quit Claim Deed
related
—
Jan 31, 2006
$2,000,000
105 River Avenue Assocs LLC
Engel,mark
Grant Deed
—
Feb 16, 2001
$27,500
New Jersey Dept Transportation
Engel,mark
Grant Deed
—
Dec 22, 1989
$1,350,000
Adelfia Corp
Unknown
Grant Deed
—
—
—
105 River Avenue LLC
—
Deed Of Trust
related
$5,100,000 · First Commerce Bank
—
—
105 River Avenue LLC
—
Deed Of Trust
related
$3,000,000 · Northern State Bank
—
—
105 River Avenue LLC
—
Deed Of Trust
related
$3,900,000 · First Commerce Bank
—
—
105 River Avenue LLC
—
Deed Of Trust
related
$1,100,000 · Zebra Holding LLC
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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