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Property profile & analytics
OFF-MARKET
Estimated value
$7,400,000
Commercial real estate
141 Bodman Pl Red Bank, NJ 07701-1014
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US59-1298095
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Construction
BRICK
Total area
15,150 SF
Lot
1.1 ac (47,916 SF)
Zoning code
WD
APN
39 00003-0000-00002- 01
UPID
US59-1298095
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
$7.40M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.60M
Blend (final)
Blend
$7.40M
Owner & transaction history
176 Riverside LLC · 1 yrs held
176 Riverside LLC
since 2024
Last sale
$7.4M
5 recorded transactions
Zoning & alternative use
WD · Red Bank, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
ness Zone District. § 490-144 CCD-1 Central Commercial District-1. § 490-145 CCD-2 Central Commercial District-2. § 490-146 BR-1 Business/Residential-1 District. § 490-147 PO Professional Office Zone District. § 490-148 WD Waterfront Development District. § 490-149 MS Medical Services Zone. § 490-150 I Industrial Zone; LI Light Industrial Zone. § 490-151 BR-…
Zone name
Waterfront Development
General category
UNKNOWN
Zone area
64.48 ac
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 Red Bank submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Red Bank 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
$7,400,000
ML approach
$7,400,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$4,505,000
Current use
Blend value · Realmo final
$7.40M
Range $6.66M – $8.14M · ±10% · vs last sale $7.40M (Dec 27 2024)
Last sale anchor
$7.40M
Dec 27 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
$488 / 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
$71,096
Tax year 2022
Assessed value
$3,847,100
Assessed 2023
Previous assessed
$3,847,100
+0.0% YoY
Effective rate
1.85%
On assessed value
Assessed land
$1,299,400
Assessed improvement
$2,547,700
Land market value
$1,299,400
Improvement market value
$2,547,700
Total market value
$3,847,100
Applied tax rate
39.0000
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
3
Total area
15,150 SF
Lot
1.1 ac (47,916 SF)
Zoning code
WD
APN
39 00003-0000-00002- 01
UPID
US59-1298095
Jurisdiction
MONMOUTH
Metro division
EDISON, NJ METROPOLITAN DIVISION
Zoning & alternative use
WD · Red Bank, NJZoning WD · permitted uses
WD · Red Bank, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
ness Zone District. § 490-144 CCD-1 Central Commercial District-1. § 490-145 CCD-2 Central Commercial District-2. § 490-146 BR-1 Business/Residential-1 District. § 490-147 PO Professional Office Zone District. § 490-148 WD Waterfront Development District. § 490-149 MS Medical Services Zone. § 490-150 I Industrial Zone; LI Light Industrial Zone. § 490-151 BR-2 Business/Residential-2 District. § 490-152 AH Affordable Housing Overlay Distric
Zone name
Waterfront Development
General category
UNKNOWN
Zone area
64.48 ac
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$4.5M
COMMERCIAL (GENERAL) Current
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
3
Buildings
1
Lot
1.1 ac
Current owner
From public records · entity-resolved
176 Riverside LLC
Entity
Mailing address
359 SPRINGFIELD AVE #2, SUMMIT, NJ 07901-4603
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
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
Apr 7, 2025
—
176 Riverside LLC
—
Deed
related
$71,750,000 · Kenndy Wilson Capital
Dec 27, 2024
—
176 Riverside LLC
176 Riverside LLC
Deed
related
$8,500,000 · First Bank
Feb 23, 2021
—
176 Riverside LLC
—
Deed
related
$8,500,000 · First Bank
Apr 10, 2012
—
Visiting Nurse Assn Of Central Nj
—
Deed Of Trust
related
$18,000,000 · Td Bk NA
—
—
Visiting Nurse Assn Of Central
—
Deed Of Trust
related
$2,000,000 · 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.
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