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Property profile & analytics
OFF-MARKET
Estimated value
$3,935,000
Warehouses
2271 Landmark Pl Manasquan, NJ 08736-1026
Entity Owned
3-yr Hold
Free & Clear
Property ID
US59-3013958
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1988
Total area
25,507 SF
Lot
4.27 ac (186,001 SF)
Zoning code
OR-2
APN
52 00819-0000-00042
UPID
US59-3013958
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
$3.84M
CAP Approach
CAP
$4.57M
Comparable Approach
Comparable
$2.68M
Blend (final)
Blend
$3.94M
Owner & transaction history
2251 Landmark Place LLC · 3 yrs held
2251 Landmark Place LLC
since 2023
Last sale
$4.0M
6 recorded transactions
Zoning & alternative use
OR-2 · Manasquan, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$5.0M
+111.8%
Auto repair, garage
$3.8M
+62.9%
Apartment house (5+ units)
$3.3M
+42.8%
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 Manasquan submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Manasquan 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
$3,900,000
ML approach
$3,840,000
CAP Approach
CAP Return
Estimation
6%
$4,950,000
6.5%
$4,570,000
7%
$4,240,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$4,960,000
Change: +112% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,815,000
Change: +63% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$3,345,000
Change: +43% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,765,000
Change: +18% · Conversion: Difficult
RESTAURANT
$2,590,000
Change: +11% · Conversion: Difficult
RETAIL STORES
$2,570,000
Change: +10% · Conversion: Moderate
Blend value · Realmo final
$3.94M
Range $3.54M – $4.33M · ±10% · vs last sale $4.00M (Jun 6 2023)
Last sale anchor
$4.00M
Jun 6 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
$154 / 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
$60,921
Tax year 2022
Assessed value
$3,027,900
Assessed 2023
Previous assessed
$3,027,900
+0.0% YoY
Effective rate
2.01%
On assessed value
Assessed land
$599,900
Assessed improvement
$2,428,000
Land market value
$599,900
Improvement market value
$2,428,000
Total market value
$3,027,900
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1988
Heating
NONE
Buildings
1
Units
1
Total area
25,507 SF
Lot
4.27 ac (186,001 SF)
Zoning code
OR-2
APN
52 00819-0000-00042
UPID
US59-3013958
Jurisdiction
MONMOUTH
Metro division
EDISON, NJ METROPOLITAN DIVISION
Zoning & alternative use
OR-2 · Manasquan, NJ
Zoning OR-2 · permitted uses
OR-2 · Manasquan, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Manasquan. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$5.0M
AUTO REPAIR, GARAGE
Est. value
$3.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.3M
COMMERCIAL (GENERAL)
Est. value
$2.8M
RESTAURANT
Est. value
$2.6M
RETAIL STORES
Est. value
$2.6M
OFFICE BUILDING
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
RESTAURANT
RETAIL STORES
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
1988
Heating
NONE
Buildings
1
Units
1
Lot
4.27 ac
Current owner
From public records · entity-resolved
2251 Landmark Place LLC
Entity
Free & Clear · 3 yrs held
Mailing address
2251 LANDMARK PL, MANASQUAN, NJ 08736-1026
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 6, 2023
—
2251 Landmark Place LLC
2251 Landmark Place LLC
Intrafamily Transfer
related
—
Mar 14, 2016
$4,000,000
2271 Landmark Place LLC
Albb Properties LLC
Grant Deed
$3,000,000 · Manasquan Bk
Dec 21, 2011
$2,650,000
Albb Properties LLC
American Timber Co
Grant Deed
$1,936,000 · Colonial American Bank
Aug 30, 2006
$4,350,000
American Timber Co
Squan Village Dev Corp
Grant Deed
$975,000 · Oceanfirst Bank
—
—
American Timber Co
—
Deed Of Trust
related
$2,500,000 · Oceanfirst Bank
—
—
American Timber Co
—
Deed Of Trust
related
$2,500,000 · Oceanfirst 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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