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Property profile & analytics
OFF-MARKET
Estimated value
$970,000
Commercial real estate
1301 3rd Ave Spring Lake, NJ 07762-1440
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US59-3121354
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Construction
BRICK
Total area
5,624 SF
Lot
0.47 ac (20,473 SF)
Zoning code
RC
APN
47 00081-0000-00017
UPID
US59-3121354
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
by Request
CAP Approach
CAP
$1.17M
Comparable Approach
Comparable
$664k
Blend (final)
Blend
$970k
Owner & transaction history
Hart LLC · 10 yrs held
Hart LLC
since 2015
6 recorded transactions
Zoning & alternative use
RC · Spring Lake, 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 Spring Lake submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Spring Lake 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%
$1,265,000
6.5%
$1,170,000
7%
$1,085,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,540,000
Current use
APARTMENT HOUSE (5+ UNITS)
$1,485,000
Change: -3% · Conversion: Moderate
Blend value · Realmo final
$970k
Range $873k – $1.07M · ±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
$172 / 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
$11,082
Tax year 2022
Assessed value
$1,973,800
Assessed 2023
Previous assessed
$1,973,800
+0.0% YoY
Effective rate
0.56%
On assessed value
Assessed land
$1,294,800
Assessed improvement
$679,000
Land market value
$1,294,800
Improvement market value
$679,000
Total market value
$1,973,800
Applied tax rate
47.0000
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
Construction
BRICK
Heating
NONE
Buildings
1
Stories
1
Total area
5,624 SF
Lot
0.47 ac (20,473 SF)
Zoning code
RC
APN
47 00081-0000-00017
UPID
US59-3121354
Jurisdiction
MONMOUTH
Metro division
EDISON, NJ METROPOLITAN DIVISION
Zoning & alternative use
RC · Spring Lake, NJ
Zoning RC · permitted uses
RC · Spring Lake, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Spring Lake. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$1.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.5M
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
Construction
BRICK
Heating
NONE
Stories
1
Buildings
1
Lot
0.47 ac
Current owner
From public records · entity-resolved
Hart LLC
Entity
Mailing address
35 KINGWOOD STOCKTON RD, STOCKTON, NJ 08559-1706
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 30, 2015
$1,700,000
Hart LLC
Wolfe Properties LLC
Grant Deed
$1,650,000 · Donald W Hart
Sep 26, 2012
—
Wolfe Properties LLC
—
Trustees Deed
related
$279,920 · Wpsl Lenders LLC
Jan 21, 2009
—
New Jersey Natural Gas Co
Wolfe Properties LLC
Grant Deed
related
—
Sep 27, 2005
—
Cheek Delzie M Trust
Cheek,delzie M
Quit Claim Deed
related
—
Sep 27, 2005
$2,400,000
Wolfe Properties LLC
Casagrande,maria
Grant Deed
related
$1,200,000 · Sun National Bank
—
—
Wolfe Properties LLC
—
Deed Of Trust
related
$500,000 · Sun National Bank
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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