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Property profile & analytics
OFF-MARKET
Estimated value
$1,260,000
Residential income homes
12 May Dr Millville, NJ 08332-2825
Entity Owned
4-yr Hold
Free & Clear
Property ID
US59-0062876
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1963
Total area
10,304 SF
Lot
1.1 ac (47,916 SF)
APN
10 00277-0000-00028
UPID
US59-0062876
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.41M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.10M
Blend (final)
Blend
$1.26M
Owner & transaction history
May Dock Apartments LLC · 4 yrs held
May Dock Apartments LLC
since 2022
Last sale
$1.3M
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.0M
+9.0%
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 Millville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Millville 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
$1,300,000
ML approach
$1,410,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$920,000
Current use
COMMERCIAL (GENERAL)
$1,005,000
Change: +9% · Conversion: Moderate
Blend value · Realmo final
$1.26M
Range $1.13M – $1.39M · ±10% · vs last sale $1.25M (Jul 1 2022)
Last sale anchor
$1.25M
Jul 1 2022
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
$122 / 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
$21,692
Tax year 2022
Assessed value
$572,200
Assessed 2023
Previous assessed
$572,200
+0.0% YoY
Effective rate
3.79%
On assessed value
Assessed land
$40,400
Assessed improvement
$531,800
Land market value
$40,400
Improvement market value
$531,800
Total market value
$572,200
Applied tax rate
10.0000
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
1963
Heating
NONE
Units
1
Total area
10,304 SF
Lot
1.1 ac (47,916 SF)
APN
10 00277-0000-00028
UPID
US59-0062876
Jurisdiction
CUMBERLAND
Zoning & alternative use
Zoning · permitted uses
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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$920,000
COMMERCIAL (GENERAL)
Est. value
$1.0M
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
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
1963
Heating
NONE
Units
1
Lot
1.1 ac
Current owner
From public records · entity-resolved
May Dock Apartments LLC
Entity
Free & Clear · 4 yrs held
Mailing address
36 AIRPORT RD STE #301, LAKEWOOD, NJ 08701-7034
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 1, 2022
$1,250,000
May Dock Apartments LLC
Enterprise No 2 LLC
Deed
—
May 18, 2022
$1,250,000
May Dock Apartments LLC
Enterprise No 2 LLC
Deed
—
Feb 1, 2005
$739,400
Enterprise No 2 LLC
May Drive Apts LLC
Grant Deed
$125,000 · Minotola Nat'l Bk
—
—
May Drive Apts LLC
—
Deed Of Trust
related
$30,000 · Colonial Bk
—
—
May Drive Apts LLC
—
Deed Of Trust
related
$30,000 · Summit 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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