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Property profile & analytics
OFF-MARKET
Estimated value
$1,360,000
Commercial real estate
231 3rd Ave Long Branch, NJ 07740-6201
Entity Owned
~
Est. High Equity
Property ID
US59-0261567
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1908
Total area
8,471 SF
Lot
0.1 ac (4,334 SF)
Zoning code
C-3
APN
27 00228-0000-00032- 02
UPID
US59-0261567
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
$1.05M
CAP Approach
CAP
$1.76M
Comparable Approach
Comparable
$1.62M
Blend (final)
Blend
$1.36M
Owner & transaction history
Henshaw Realty LLC
Henshaw Realty LLC
since 2025
Last sale
$1.4M
6 recorded transactions
Zoning & alternative use
C-3 · Long Branch, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
C-3 Neighborhood Commercial District. § 345-32.1 West End Design Overlay (WEDO) District regulations. § 345-33
Zone name
Neighborhood Commercial
General category
COMMERCIAL
Zone area
22.71 ac
Top alternative use upside
Apartment house (5+ units)
$2.2M
+10.4%
Office building
$2.1M
+3.0%
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 Long Branch submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Long Branch 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
$1,025,000
ML approach
$1,050,000
CAP Approach
CAP Return
Estimation
6%
$1,905,000
6.5%
$1,760,000
7%
$1,635,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$2,030,000
Current use
APARTMENT HOUSE (5+ UNITS)
$2,240,000
Change: +10% · Conversion: Moderate
OFFICE BUILDING
$2,090,000
Change: +3% · Conversion: Easy
INDUSTRIAL (GENERAL)
$1,745,000
Change: -14% · Conversion: Moderate
Blend value · Realmo final
$1.36M
Range $1.22M – $1.50M · ±10% · vs last sale $1.35M (Jul 2 2025)
Last sale anchor
$1.35M
Jul 2 2025
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
$161 / 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
$14,758
Tax year 2022
Assessed value
$1,166,400
Assessed 2023
Previous assessed
$1,166,400
+0.0% YoY
Effective rate
1.27%
On assessed value
Assessed land
$375,600
Assessed improvement
$790,800
Land market value
$375,600
Improvement market value
$790,800
Total market value
$1,166,400
Applied tax rate
27.0000
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
1908
Heating
NONE
Total area
8,471 SF
Lot
0.1 ac (4,334 SF)
Zoning code
C-3
APN
27 00228-0000-00032- 02
UPID
US59-0261567
Jurisdiction
MONMOUTH
Metro division
EDISON, NJ METROPOLITAN DIVISION
Zoning & alternative use
C-3 · Long Branch, NJZoning C-3 · permitted uses
C-3 · Long Branch, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
C-3 Neighborhood Commercial District. § 345-32.1 West End Design Overlay (WEDO) District regulations. § 345-33
Zone name
Neighborhood Commercial
General category
COMMERCIAL
Zone area
22.71 ac
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$2.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.2M
OFFICE BUILDING
Est. value
$2.1M
INDUSTRIAL (GENERAL)
Est. value
$1.7M
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
1908
Heating
NONE
Lot
0.1 ac
Current owner
From public records · entity-resolved
Henshaw Realty LLC
Entity
Mailing address
958 MAIN ST STE #2, PATERSON, NJ 07503-2349
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 2, 2025
$1,350,000
Henshaw Realty LLC
231 Third Ave LLC
Deed
$12,200,000 · Santander Bank NA
Apr 29, 2022
—
231 Third Ave LLC
Michael Jebara
Quit Claim Deed
related
$2,500,000 · Lakeland Bank
Nov 1, 2021
—
231 Third Ave LLC
231 Third Ave LLC
Intrafamily Transfer
related
—
Nov 29, 2017
—
231 Third Ave LLC
—
Grant Deed
related
$9,000,000 · Lakeland Bk
May 19, 2017
$975,000
231 Third Ave LLC
Dkd Investments LLC
Grant Deed
—
Nov 4, 2011
$920,000
Dkd Investments LLC
Third Avenue Bakery LLC
Grant Deed
$787,500 · Rumson Fair Haven Bank & Trust
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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