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Property profile & analytics
OFF-MARKET
Estimated value
$42,715,000
Commercial real estate
2301 State Rte 66, Ocean, NJ 07712-3961
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US59-0725702
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1978
Total area
165,541 SF
Lot
111.6 ac (4,861,165 SF)
APN
37 00141-0000-00001
UPID
US59-0725702
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$42.72M
Owner & transaction history
Sephora USA INC · 1 yrs held
Sephora USA INC
since 2025
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$43.8M
+3.7%
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 Ocean submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ocean 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$42,200,000
Current use
APARTMENT HOUSE (5+ UNITS)
$43,750,000
Change: +4% · Conversion: Moderate
OFFICE BUILDING
$40,810,000
Change: -3% · Conversion: Easy
INDUSTRIAL (GENERAL)
$34,120,000
Change: -19% · Conversion: Moderate
Blend value · Realmo final
$42.72M
Range $38.44M – $46.99M · ±10%
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
$258 / 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
$1,123,453
Tax year 2022
Assessed value
$69,770,837
Assessed 2023
Previous assessed
$69,770,837
+0.0% YoY
Effective rate
1.61%
On assessed value
Land market value
$22,608,000
Improvement market value
$47,370,900
Total market value
$69,978,900
Applied tax rate
37.0000
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
1978
Heating
NONE
Buildings
1
Total area
165,541 SF
Lot
111.6 ac (4,861,165 SF)
APN
37 00141-0000-00001
UPID
US59-0725702
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
COMMERCIAL (GENERAL) Current
Est. value
$42.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$43.8M
OFFICE BUILDING
Est. value
$40.8M
INDUSTRIAL (GENERAL)
Est. value
$34.1M
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
1978
Heating
NONE
Buildings
1
Lot
111.6 ac
Current owner
From public records · entity-resolved
Sephora USA INC
Entity
Mailing address
8 INDUSTRIAL WAY E, EATONTOWN, NJ 07724-3317
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
15 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 30, 2025
—
Sephora USA INC
Seaview Acquisition LLC
Deed
—
Sep 4, 2019
—
Scaview Acquisition LLC
—
Grant Deed
related
$80,000,000 · Metlife R/e Lndg LLC
Sep 18, 2018
—
Seaview Acquisition LLC
—
Deed
related
$235,000 · Investors Bk
Dec 7, 2017
—
New Jersey State Dept Of Ep
Seaview Acquisition LLC
Grant Deed
related
—
Aug 22, 2017
—
Starwood Heller Seaview LLC
Seaview Acquisition LLC
Quit Claim Deed
related
—
Jul 17, 2017
—
Seaview Acquisition LLC
—
Grant Deed
related
$8,500,000 · Investors Bk
Mar 10, 2017
—
Seaview Acquisition LLC
Seaview Acquisition LLC
Quit Claim Deed
related
—
Feb 8, 2016
—
Seaview Acquistion LLC
Ocean Twp
Grant Deed
related
—
Sep 4, 2012
—
Seaview Acquisition LLC
Seaview Square LLC
Quit Claim Deed
related
$40,000,000 · Investors Bank & Trust
Oct 13, 2010
—
Seaview Square LLC
Ocean Twp
Grant Deed
related
—
May 29, 2009
—
Starwood Heller Seaview LLC
Starwood Heller Seaview LLC
Quit Claim Deed
related
—
May 8, 2009
—
Twp Ocean
Ocean Twp
Quit Claim Deed
related
—
Jan 22, 2009
—
Twp Ocean
Ocean Twp
Quit Claim Deed
related
—
Nov 22, 2005
$71,750,000
Seaview Square LLC
Starwood Heller Seaview LLC
Grant Deed
related
$62,500,000 · Lehman Capital Corp
—
—
736 Hwy 35 Bbmk LLC
—
Deed Of Trust
related
$700,000 · Jp Morgan Chase Bank NA
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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