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

    1944 Corlies Ave, Unit 205 Neptune, NJ 07753-5197

    • Office Properties & Spaces
    • 1,530 SF
    • 3.26 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US59-2446619
    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

    • Office Properties & Spaces

    Property Details for 1944 Corlies Ave

    Year built
    1995
    Lot size
    3.26 lot acres
    Property size
    1,530 SF
    Zone code
    ES
    Property type
    Office Properties & Spaces
    APN
    35 01204-0000-00001-0000-C205
    APU
    35012040000000010000C205

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Neptune
    County
    Monmouth
    State
    New Jersey
    Longitude
    -74.0402
    Latitude
    40.2071
    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
    2023
    $6,993
    $131,200
    $298,600
    $429,800
    -
    $131,200
    $298,600
    $429,800

    Comparable in this City

    • Value Estimation by Request

      4000 State Rte 66

      CONDOMINIUM OFFICES
      4000 State Rte 66, Tinton Falls, NJ 07753-7300
      View Details
    • Value Estimation by Request
      952 SF

      1900 Corlies Ave, Unit 5B

      CONDOMINIUM OFFICES • 952 SF
      1900 Corlies Ave, Neptune, NJ 07753-5197
      View Details
    • Value Estimation by Request
      932 SF

      1900 Corlies Ave, Unit 102

      CONDOMINIUM OFFICES • 932 SF
      1900 Corlies Ave, Neptune, NJ 07753-5197
      View Details
    • Value Estimation by Request
      1,589 SF

      444 Neptune Blvd Bldg B-16

      CONDOMINIUM OFFICES • 1,589 SF
      444 Neptune Blvd Bldg B-16, Neptune, NJ 07753-4144
      View Details
    • Value Estimation by Request
      1,333 SF

      444 Neptune Blvd Bldg B-5

      CONDOMINIUM OFFICES • 1,333 SF
      444 Neptune Blvd Bldg B-5, Neptune, NJ 07753-4144
      View Details
    • Value Estimation by Request
      17,130 SF

      1820 Corlies Ave

      Medical offices • 17,130 SF
      1820 Corlies Ave, Neptune City, NJ 07753
      View Details

    Similar Nearby for Sale

    • $750,000

      Commercial Office Building For Sale

      Office building with handicap access on a corner double lot.
      601/603 State Route 35, Neptune, NJ 07753
      View Details
    • Contact for pricing

      Versatile Commercial Space in Neptune

      Adaptable commercial property on a bustling street with high visibility.
      242 Neptune Blvd, Neptune, NJ 07753
      View Details
    • New
      $1,800,000
      16,000 SF

      Income Producing Medical Office Building

      Two-story, 16,000 SF medical/professional office building for sale.
      2040 6Th Ave, Neptune City, NJ 07753
      View Details
    • $650,000
      984 SF

      Tinton Falls Office Building

      One-story office building near major roadways, suitable for retail.
      1989 Jumping Brook Rd, Wall Township, NJ 07753
      View Details
    • $2,950,000
      11,700 SF

      Freestanding Office/Flex Building on 4.8 Acres

      Single-story office/flex building on 4.8 acres with redevelopment potential.
      3310 New Jersey 66, Neptune, NJ 07753
      View Details
    • $750,000

      Office Building with Development Potential

      Office building with land and development options in Neptune Township.
      601/603 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
    • $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
      7,886 SF

      Wall Township Office Sublease Available

      Office space available for sublease in Wall Township, New Jersey.
      4814 Outlook Dr, Wall Township, NJ 07753
      View Details
    • Contact for pricing

      Neptune Township Office Space Available

      Two office spaces available for rent in Neptune Township, NJ.
      708 Highway 35, Neptune, NJ 07753
      View Details
    • New
      Contact for pricing
      1,590 SF

      Neptune Township Mixed-Use Commercial Space

      Upgraded commercial space in mixed-use building, ideal for office/retail.
      1410 Corlies Ave, Neptune, NJ 07753
      View Details
    • $4,500 /Mo
      2,000 SF

      Renovated Retail and Garage Space

      Recently renovated commercial space with office, retail, and warehouse.
      1520 Corlies Ave, Neptune, 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.
    1944 Corlies Ave, Unit 205
    Neptune, NJ 07753-5197
    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.