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Property profile & analytics
OFF-MARKET
Estimated value
$790,000
Commercial real estate
1906 Old Ml Rd Belmar, NJ 07719-3645
Individually Owned
1-yr Hold
~
Est. High Equity
Property ID
US59-2107698
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1950
Total area
1,864 SF
Lot
0.38 ac (16,700 SF)
Zoning code
HB80
APN
52 00072-0000-00025
UPID
US59-2107698
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
-
Dube Realty Real Estate Agency
-
Hammond, Hudy & Associates Accounting Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$805k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$738k
Blend (final)
Blend
$790k
Owner & transaction history
Rex Ghassemi · 1 yrs held
Rex Ghassemi
since 2025
Last sale
$810,000
7 recorded transactions
Zoning & alternative use
HB80 · Belmar, 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 Belmar submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Belmar 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
$780,000
ML approach
$805,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$550,000
Current use
Blend value · Realmo final
$790k
Range $711k – $869k · ±10% · vs last sale $810k (Jan 17 2025)
Last sale anchor
$810k
Jan 17 2025
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
$424 / 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
$13,011
Tax year 2022
Assessed value
$638,100
Assessed 2023
Previous assessed
$638,100
+0.0% YoY
Effective rate
2.04%
On assessed value
Assessed land
$280,000
Assessed improvement
$358,100
Land market value
$280,000
Improvement market value
$358,100
Total market value
$638,100
Applied tax rate
52.0000
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
Year built
1950
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
2
Units
1
Total area
1,864 SF
Lot
0.38 ac (16,700 SF)
Zoning code
HB80
APN
52 00072-0000-00025
UPID
US59-2107698
Jurisdiction
MONMOUTH
Metro division
EDISON, NJ METROPOLITAN DIVISION
Zoning & alternative use
HB80 · Belmar, NJ
Zoning HB80 · permitted uses
HB80 · Belmar, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Belmar. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$550,000
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
Year built
1950
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
1
Units
1
Lot
0.38 ac
Current owner
From public records · entity-resolved
Rex Ghassemi
Individual
Mailing address
1906 OLD ML RD, BELMAR, NJ 07719-3645
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 17, 2025
$810,000
Rex Ghassemi
1906 Om Partners LLC
Deed
—
Jun 5, 2020
—
1906 O M Partners LLC
—
Deed
related
$438,681 · Provident Bk
Sep 3, 2014
$549,900
1906 Om Partners LLC
Arthur J Dube Agency INC
Grant Deed
$412,425 · Provident Bk
—
—
1906 O M Partners LLC
—
Deed Of Trust
related
$105,000 · Provident Bk
—
—
1906 O M Partners LLC
—
Loan Modification
related
$438,681 · Provident Bk
—
—
Arthur J Dube Agency INC
—
Deed Of Trust
related
$300,000 · New Jersey Community Bank
—
—
Arthur J Dube Agency INC
—
Deed Of Trust
related
$270,000 · 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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