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Property profile & analytics
OFF-MARKET
Estimated value
$930,000
Office buildings
21 White St Shrewsbury, NJ 07702-4440
Individually Owned
2-yr Hold
~
Est. High Equity
Property ID
US59-2870547
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1967
Total area
4,000 SF
Lot
0.22 ac (9,425 SF)
APN
44 00039-0000-00004
UPID
US59-2870547
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
$930k
CAP Approach
CAP
$1.01M
Comparable Approach
Comparable
$891k
Blend (final)
Blend
$930k
Owner & transaction history
Charles A Caenizzaro Irlt · 2 yrs held
Charles A Caenizzaro Irlt
since 2024
Last sale
$931,000
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.4M
+46.6%
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 Shrewsbury submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Shrewsbury 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
$930,000
ML approach
$930,000
CAP Approach
CAP Return
Estimation
6%
$1,090,000
6.5%
$1,005,000
7%
$935,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$985,000
Current use
COMMERCIAL (GENERAL)
$1,445,000
Change: +47% · Conversion: Easy
Blend value · Realmo final
$930k
Range $837k – $1.02M · ±10% · vs last sale $931k (Jan 11 2024)
Last sale anchor
$931k
Jan 11 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
$233 / 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
$16,039
Tax year 2022
Assessed value
$822,100
Assessed 2023
Previous assessed
$822,100
+0.0% YoY
Effective rate
1.95%
On assessed value
Assessed land
$230,100
Assessed improvement
$592,000
Land market value
$230,100
Improvement market value
$592,000
Total market value
$822,100
Applied tax rate
44.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1967
Heating
NONE
Buildings
1
Total area
4,000 SF
Lot
0.22 ac (9,425 SF)
APN
44 00039-0000-00004
UPID
US59-2870547
Jurisdiction
MONMOUTH
Metro division
EDISON, NJ METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$985,000
COMMERCIAL (GENERAL)
Est. value
$1.4M
OFFICE BUILDING Current
COMMERCIAL (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
1967
Heating
NONE
Buildings
1
Lot
0.22 ac
Current owner
From public records · entity-resolved
Charles A Caenizzaro Irlt
Individual
Mailing address
22 MERCIER PL, BERKELEY HEIGHTS, NJ 07922-2434
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 11, 2024
—
Charles A Caenizzaro Irlt
Charles A Cannizzaro
Intrafamily Transfer
related
—
Jun 14, 2017
$931,000
Charles Cannizzaro
Vsj Partners LLC
Grant Deed
$531,000 · Provident Bk
Jul 7, 2015
$290,000
Vsj Partners LLC
Garden State Pool Owner LLC
Grant Deed
—
Jun 6, 2013
—
Garden State Pool Owner LLC
Befumo,andrew JR
Deed In Lieu Of Foreclosure
related
—
Oct 12, 2006
$650,000
Andrew Befumo JR.
Bier,martin M
Grant Deed
$487,500 · Greenpoint Mortgage Funding
—
—
Andrew Befumo JR.
—
Deed Of Trust
related
$700,000 · American Bank Nj
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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