Your AI Navigator in Commercial Real Estate
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
    Property profile & analytics

    201 Tornillo Way Ocean, NJ 07712-7529

    • Commercial real estate
    • 25,445 SF
    • 3.33 lot acres
    OFF-MARKET
    Last Sale
    Sep 12, 2025
    $6,040,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US59-1946574
    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

    • Johnstone Supply / Heating Equipment Supplier / Air Conditioning System Supplier

    Property Details for 201 Tornillo Way

    Lot size
    3.33 lot acres
    Property size
    25,445 SF
    Zone code
    IO35
    Property type
    Commercial real estate
    APN
    49 00120- 02-00001- 04
    APU
    4900120020000104

    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
    Ocean
    County
    Monmouth
    State
    New Jersey
    Longitude
    -74.0819
    Latitude
    40.2664
    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
    2022
    $43,101
    $674,300
    $1,968,800
    $2,643,100
    -
    $674,300
    $1,968,800
    $2,643,100

    Comparable in this City

    • Value Estimation
      $295,000
      0.55 Acres

      1100 Ocean Ave

      COMMERCIAL (GENERAL) • 0.55 Acres
      1100 Ocean Ave, Asbury Park, NJ 07712-5690
      View Details
    • Value Estimation
      $265,000
      0.27 Acres

      1021 State Rte 35

      COMMERCIAL (GENERAL) • 0.27 Acres
      1021 State Rte 35, Ocean, NJ 07712-4048
      View Details
    • Value Estimation
      $255,000
      1.01 Acres

      3437 Sunset Ave

      COMMERCIAL (GENERAL) • 1.01 Acres
      3437 Sunset Ave, Asbury Park, NJ 07712
      View Details
    • Value Estimation
      $475,000
      12,586 SF

      1300 State Rte 35th Rear Rear

      COMMERCIAL (GENERAL) • 12,586 SF
      1300 State Rte 35th Rear Rear, Ocean, NJ 07712-3537
      View Details
    • Value Estimation
      $335,000
      3,516 SF

      311 6th Ave

      COMMERCIAL (GENERAL) • 3,516 SF
      311 6th Ave, Asbury Park, NJ 07712-5514
      View Details
    • Value Estimation
      $310,000
      4,532 SF

      1221 Asbury Ave

      COMMERCIAL (GENERAL) • 4,532 SF
      1221 Asbury Ave, Asbury Park, NJ 07712-5728
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,216 SF

      Prime Oakhurst Commercial Space

      Spacious 4,216 sq ft commercial building
      1025 State Route 35, Oakhurst, NJ 07712
      View Details
    • $999,000

      Ocean Township Commercial Land Plot

      7,500 SF Buildable Lot, R-1 Zoning
      0 Legal, Ocean Township, NJ 07712
      View Details
    • $1,795,000
      7,068 SF

      Asbury Park Mixed-Use Investment

      Prime Asbury Park location, 7,068 SF, NNN Lease.
      428 Main St, Asbury Park, NJ 07712
      View Details
    • $439,000
      594 SF

      Furnished Condo with Lake Views

      Fully furnished 1 bed, 1 bath condo near Asbury Park.
      1211 Grand Ave, Asbury Park, NJ 07712
      View Details
    • $750,000
      Pending

      Renovated Corner Building, Asbury Park

      Renovated corner building in Asbury Park's Central Business District.
      700 Summerfield Ave, Asbury Park, NJ 07712
      View Details
    • $1,300,000

      Luxury Condo Near Ocean

      Well-maintained condo with ocean views, garage parking, and amenities.
      300 Cookman Ave, Asbury Park, NJ 07712
      View Details

    Similar Nearby for Lease

    • $1,200 /Mo

      Office Space in Ocean Twp

      Office space available for rent in Ocean Township, New Jersey.
      3215 Fairmont Ave, Asbury Park, NJ 07712
      View Details
    • Contact for pricing

      Cookman Avenue Retail/Office Space

      Retail and office spaces available in downtown Asbury Park.
      658 Cookman Ave, Asbury Park, NJ 07712
      View Details
    • Contact for pricing
      2,700 SF

      Retail Space on Route 35

      Retail space with high visibility on Route 35.
      1560 State Route 35, Ocean, NJ 07712
      View Details
    • $22 SF/Yr

      Renovated Office Space Available

      Renovated office space in Ocean Township, Monmouth County.
      3321 Doris Ave, Wanamassa, NJ 07712
      View Details
    • $4,000 /Mo
      3,074 SF

      Heated Warehouse Space in Asbury

      Heated warehouse/storage space available with loading dock access.
      910 1St Ave, Asbury Park, NJ 07712
      View Details
    • $2,050 /Mo

      Queen Anne Victorian Apartment

      One-bedroom apartment in a Queen Anne Victorian home.
      401 2Nd Ave, Asbury Park, NJ 07712
      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.
    201 Tornillo Way
    Ocean, NJ 07712-7529
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.