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Property profile & analytics
OFF-MARKET
Estimated value
$31,365,000
Commercial real estate
233 State Rte 18, East Brunswick, NJ 08816-1903
Entity Owned
8-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US59-2998134
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1960
Construction
TYPE NOT SPECIFIED
Total area
164,350 SF
Lot
13.26 ac (577,606 SF)
Zoning code
HC2
APN
04 00006- 01-00016- 02
UPID
US59-2998134
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
$21.88M
Comparable Approach
Comparable
$31.44M
Blend (final)
Blend
$31.37M
Owner & transaction history
Lpe Partners · 8 yrs held
Lpe Partners
since 2017
Last sale
$36.1M
1 recorded transaction
Zoning & alternative use
HC2 · East Brunswick, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 East Brunswick submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs East Brunswick 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%
$23,700,000
6.5%
$21,880,000
7%
$20,315,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$45,660,000
Current use
OFFICE BUILDING
$45,545,000
Change: 0% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$40,495,000
Change: -11% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$36,590,000
Change: -20% · Conversion: Moderate
Blend value · Realmo final
$31.37M
Range $28.23M – $34.50M · ±10% · vs last sale $36.07M (Dec 15 2025)
Last sale anchor
$36.07M
Dec 15 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
$191 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$513,788
Tax year 2023
Assessed value
$4,400,000
Assessed 2024
Previous assessed
$4,400,000
+0.0% YoY
Effective rate
11.68%
On assessed value
Assessed land
$1,080,800
Assessed improvement
$3,319,200
Land market value
$1,080,800
Improvement market value
$3,319,200
Total market value
$4,400,000
Applied tax rate
4.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
1960
Construction
TYPE NOT SPECIFIED
Heating
NONE
Units
1
Total area
164,350 SF
Lot
13.26 ac (577,606 SF)
Zoning code
HC2
APN
04 00006- 01-00016- 02
UPID
US59-2998134
Jurisdiction
MIDDLESEX
Metro division
EDISON, NJ METROPOLITAN DIVISION
Zoning & alternative use
HC2 · East Brunswick, NJ
Zoning HC2 · permitted uses
HC2 · East Brunswick, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
East Brunswick. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$45.7M
OFFICE BUILDING
Est. value
$45.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$40.5M
INDUSTRIAL (GENERAL)
Est. value
$36.6M
COMMERCIAL (GENERAL) Current
OFFICE BUILDING
APARTMENT HOUSE (5+ UNITS)
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
1960
Construction
TYPE NOT SPECIFIED
Heating
NONE
Units
1
Lot
13.26 ac
Current owner
From public records · entity-resolved
Lpe Partners
Entity
Mailing address
820 MORRIS TPKE, SHORT HILLS, NJ 07078-2624
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 14, 2017
—
Lpe Partners
—
Grant Deed
related
$6,700,000 · Provident Bk
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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