Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    122 Drummond Ave Neptune, NJ 07753-4712

    • Commercial real estate
    • 3,720 SF
    • 0.50 lot acres
    OFF-MARKET
    Value Estimations
    $650,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US59-0292294
    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

    • Painters District Council / Software Company

    Property Details for 122 Drummond Ave

    Year built
    1950
    Construction
    CONCRETE BLOCKS
    Lot size
    0.50 lot acres
    Property size
    3,720 SF
    Zone code
    B-1
    Property type
    Commercial real estate
    APN
    35 00506-0000-00011
    APU
    3500506000000011

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $835,000
      6.5%
      $775,000
      7%
      $715,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $487,000
      Market price range: $173k - $776k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $960,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Neptune
    County
    Monmouth
    State
    New Jersey
    Longitude
    -74.0273
    Latitude
    40.2117
    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
    $12,144
    $498,800
    $247,000
    $745,800
    -
    $498,800
    $247,000
    $745,800

    Comparable in this City

    • Value Estimation by Request
      0.02 Acres

      20 Concourse

      COMMERCIAL (GENERAL) • 0.02 Acres
      20 Concourse, Neptune, NJ 07753-5255
      View Details
    • Value Estimation by Request
      2,204 SF

      1519 Corlies Ave

      COMMERCIAL (GENERAL) • 2,204 SF
      1519 Corlies Ave, Neptune, NJ 07753-4903
      View Details
    • Value Estimation by Request
      2,122 SF

      8 State Rte 35th N

      COMMERCIAL (GENERAL) • 2,122 SF
      8 State Rte 35th N, Neptune, NJ 07753-4728
      View Details
    • Value Estimation
      $720,000
      4,664 SF

      705 State Rte 35th N

      COMMERCIAL (GENERAL) • 4,664 SF
      705 State Rte 35th N, Neptune, NJ 07753-4003
      View Details
    • Value Estimation
      $2,090,000
      15,780 SF

      15 State Rte 35th N

      COMMERCIAL (GENERAL) • 15,780 SF
      15 State Rte 35th N, Neptune, NJ 07753-4727
      View Details
    • Value Estimation by Request
      1,647 SF

      220 Sylvania Ave

      COMMERCIAL (GENERAL) • 1,647 SF
      220 Sylvania Ave, Neptune, NJ 07753-6253
      View Details

    Similar Nearby for Sale

    • $499,000
      0.62 Acres

      Allied Building: Fargo Warehouse Space

      54,500 SF Warehouse - Newly Renovated
      401 Nj-35, Neptune City, NJ 07753
      View Details
    • $229,000
      0.26 Acres

      Prime Neptune City Commercial Land

      0.26 Acres, High Traffic Location
      635 Nj-35, Neptune City, NJ 07753
      View Details
    • $100,000

      Established Salon in Neptune Township

      Premier salon for sale in vibrant Neptune Township, New Jersey.
      3705 Rte 33, Neptune, NJ 07753
      View Details
    • $250,000

      Residential Lot Near the Beach

      Buildable residential lot close to the beach, shops, and restaurants.
      125 Hawthorne Ave, Neptune City, NJ 07753
      View Details
    • $999,900
      3.74 Acres

      Highway 34 Frontage Land

      3.74 acres of commercial land with extensive highway frontage.
      1500 State Route 34, Wall, NJ 07753
      View Details
    • $799,000
      4,300 SF

      Corner Storefront in High-Traffic Area

      4,300 SF corner storefront property in Neptune Township, NJ.
      500 State Route 35, Neptune, NJ 07753
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      4,423 SF

      Office Space with Highway Access

      Office space with direct highway access and storage available.
      1355 Campus Pkwy, Wall Township, NJ 07753
      View Details
    • $13 SF/Yr
      10,000 SF

      Neptune Warehouse Space Available

      10,000 sq ft warehouse space for lease.
      1930 Heck Ave, Neptune, NJ 07753
      View Details
    • Contact for pricing
      1,532 SF

      Retail Space in Wall Township

      Retail space available in a high-traffic shopping center.
      1825 State Route 35, Wall Township, NJ 07753
      View Details
    • $23 SF/Yr

      Neptune Township Office Suites

      Professional office suites available for rent in Neptune Township, NJ.
      3301 State Route 66, Neptune, NJ 07753
      View Details
    • Contact for pricing
      8,583 SF

      Prime Neptune City Retail Space

      8,583 SF Available - Ideal Medical Use
      300 Sylvania Ave, Neptune City, NJ 07753
      View Details
    • Contact for pricing

      Prime 13.5-Acre Tinton Falls Land

      High-Visibility Commercial Land, Garden State Parkway Exit 102
      4090 Asbury Ave, Tinton Falls, NJ 07753
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    122 Drummond Ave
    Neptune, NJ 07753-4712
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.