Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$2,060,000
Residential income homes
1128 Borden Ave Point Pleasant Boro, NJ 08742-2906
Individually Owned
17-yr Hold
Property ID
US59-2904545
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1964
Construction
TYPE NOT SPECIFIED
Total area
9,134 SF
Lot
2 ac (87,120 SF)
Zoning code
RM
APN
25 00128-0000-00050
UPID
US59-2904545
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
-
JenJo Avon Cosmetic Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.35M
Comparable Approach
Comparable
$1.36M
Blend (final)
Blend
$2.06M
Owner & transaction history
Thomas Blackley · 17 yrs held
Thomas Blackley
since 2008
4 recorded transactions
Zoning & alternative use
RM · Point Pleasant Boro, 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 Point Pleasant Boro submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Point Pleasant Boro 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%
$2,550,000
6.5%
$2,350,000
7%
$2,185,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$2,590,000
Current use
COMMERCIAL (GENERAL)
$2,515,000
Change: -3% · Conversion: Moderate
OFFICE BUILDING
$2,170,000
Change: -16% · Conversion: Moderate
Blend value · Realmo final
$2.06M
Range $1.85M – $2.27M · ±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
$226 / 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
$52,964
Tax year 2022
Assessed value
$2,473,800
Assessed 2023
Previous assessed
$2,473,800
+0.0% YoY
Effective rate
2.14%
On assessed value
Assessed land
$1,440,000
Assessed improvement
$1,033,800
Land market value
$1,440,000
Improvement market value
$1,033,800
Total market value
$2,473,800
Applied tax rate
25.0000
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
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Status
Off-Market
Year built
1964
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
2
Units
1
Total area
9,134 SF
Lot
2 ac (87,120 SF)
Zoning code
RM
APN
25 00128-0000-00050
UPID
US59-2904545
Jurisdiction
OCEAN
Metro division
EDISON, NJ METROPOLITAN DIVISION
Zoning & alternative use
RM · Point Pleasant Boro, NJ
Zoning RM · permitted uses
RM · Point Pleasant Boro, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Point Pleasant Boro. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$2.6M
COMMERCIAL (GENERAL)
Est. value
$2.5M
OFFICE BUILDING
Est. value
$2.2M
APARTMENT HOUSE (5+ UNITS) Current
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
1964
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
2
Units
1
Lot
2 ac
Current owner
From public records · entity-resolved
Thomas Blackley
Individual
Mailing address
100 OLD PALISADE RD APT #2415, FORT LEE, NJ 07024-7021
Ownership since
2008
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
Nov 17, 2008
$3,550,000
Thomas Blackley
Framar Associates LLC
Grant Deed
—
Aug 5, 1998
$1,000,000
Framar Assoc LLC
Borden Village INC
Grant Deed
—
—
—
Framer Associates LLC
—
Deed Of Trust
related
$750,000 · Ocean Fsb
—
—
Thomas Blackley
—
Loan Modification
related
$50,000 · Td Bk NA
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1128 Borden Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
