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Property profile & analytics
OFF-MARKET
Estimated value
$3,095,000
Commercial real estate
2 Hance Ave, Tinton Falls, NJ 07724-2726
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US59-1143503
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1998
Total area
14,940 SF
Lot
1.63 ac (71,003 SF)
Zoning code
NC
APN
49 00031- 01-00001- 02
UPID
US59-1143503
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
-
The Haddad Law Firm Law Firm
-
Spearhead Networking & Technology Services Tech Support Center IT Consulting Firm
-
Unity Members Consulting Center Loan Service Bank
-
Lucas Commercial & Residential Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.05M
CAP Approach
CAP
$3.11M
Comparable Approach
Comparable
$2.34M
Blend (final)
Blend
$3.10M
Owner & transaction history
2 Hance Ave LLC · 2 yrs held
2 Hance Ave LLC
since 2023
Last sale
$3.2M
7 recorded transactions
Zoning & alternative use
NC · Tinton Falls, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$4.0M
+25.4%
Office building
$3.7M
+17.0%
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 Tinton Falls submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Tinton Falls 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
$2,985,000
ML approach
$3,045,000
CAP Approach
CAP Return
Estimation
6%
$3,360,000
6.5%
$3,105,000
7%
$2,880,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$3,150,000
Current use
APARTMENT HOUSE (5+ UNITS)
$3,950,000
Change: +25% · Conversion: Moderate
OFFICE BUILDING
$3,685,000
Change: +17% · Conversion: Easy
INDUSTRIAL (GENERAL)
$3,080,000
Change: -2% · Conversion: Moderate
Blend value · Realmo final
$3.10M
Range $2.79M – $3.40M · ±10% · vs last sale $3.17M (Nov 17 2023)
Last sale anchor
$3.17M
Nov 17 2023
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
$207 / 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
$32,492
Tax year 2022
Assessed value
$2,059,200
Assessed 2023
Previous assessed
$2,059,200
+0.0% YoY
Effective rate
1.58%
On assessed value
Assessed land
$582,700
Assessed improvement
$1,476,500
Land market value
$582,700
Improvement market value
$1,476,500
Total market value
$2,059,200
Applied tax rate
49.0000
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
1998
Heating
NONE
Buildings
1
Total area
14,940 SF
Lot
1.63 ac (71,003 SF)
Zoning code
NC
APN
49 00031- 01-00001- 02
UPID
US59-1143503
Jurisdiction
MONMOUTH
Metro division
EDISON, NJ METROPOLITAN DIVISION
Zoning & alternative use
NC · Tinton Falls, NJ
Zoning NC · permitted uses
NC · Tinton Falls, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Tinton Falls. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$3.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.0M
OFFICE BUILDING
Est. value
$3.7M
INDUSTRIAL (GENERAL)
Est. value
$3.1M
COMMERCIAL (GENERAL) Current
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
INDUSTRIAL (GENERAL)
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
1998
Heating
NONE
Buildings
1
Lot
1.63 ac
Current owner
From public records · entity-resolved
2 Hance Ave LLC
Entity
Mailing address
2 HANCE AVE, TINTON FALLS, NJ 07724-2726
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 17, 2023
$3,170,000
2 Hance Ave LLC
High On The Hill LLC
Deed
$1,585,000 · Manasquan Bank
Nov 17, 2023
—
2 Hance Ave LLC
—
Deed
related
$1,298,000 · Trenton Business Assistance Corporation
Aug 1, 2023
—
High On The Hill LLC
—
Deed
related
$628,867 · Stavola Asphalt Company INC
Feb 16, 2023
—
High On The Hill LLC
—
Deed
related
—
Apr 20, 2021
—
High On The Hill LLC
—
Deed
related
$840,000 · Four Branches LLC
Nov 14, 2019
—
High On The Hill LLC
—
Deed
related
$770,000 · Four Branches LLC
Aug 28, 2018
$1,700,000
High On The Hill LLC
Mlian,linda S
Grant Deed
$1,275,000 · Bcb Cmnty Bk
Jul 22, 2010
—
Mallan,linda
—
Deed Of Trust
related
$6,000,000 · Soveriegn Bk
Aug 21, 1997
$450,000
Linda S Mallan
Clifford,charles L
Grant Deed
—
—
—
Linda Mallan
—
Deed Of Trust
related
$150,000 · Commerce Bk/shore
—
—
High On The Hill LLC
—
Deed Of Trust
related
$770,000 · Four Branches LLC
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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