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    Property profile & analytics

    24 Rustic Dr Howell, NJ 07731

    • Office buildings
    • 1,608 SF
    • 0.37 lot acres
    OFF-MARKET
    Value Estimations
    $335,000
    Show details
    Cap Rate Potential
    8.3%
    Office buildings
    Location Intelligence
    Property ID
    US59-0274360
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Office buildings

    Property Details for 24 Rustic Dr

    Year built
    1946
    Lot size
    0.37 lot acres
    Property size
    1,608 SF
    Zone code
    HC
    Property type
    Office buildings
    APN
    21 00056-0000-00014
    APU
    2100056000000014

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $315,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $435,000
      6.5%
      $405,000
      7%
      $375,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $490,000
      Market price range: $176k - $490k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Howell
    County
    Monmouth
    State
    New Jersey
    Longitude
    -74.2312
    Latitude
    40.1586
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $8,805
    $217,100
    $222,200
    $439,300
    -
    $217,100
    $222,200
    $439,300

    Comparable in this City

    • Value Estimation
      $370,000
      1,652 SF

      3601 Us Hwy 9th 9

      OFFICE BUILDING • 1,652 SF
      3601 Us Hwy 9th 9, Howell, NJ 07731-3395
      View Details
    • Value Estimation
      $350,000
      1,641 SF

      3701 Us Hwy 9th 9

      OFFICE BUILDING • 1,641 SF
      3701 Us Hwy 9th 9, Howell, NJ 07731-3396
      View Details
    • Value Estimation
      $520,000
      1,430 SF

      27 Rustic Dr

      OFFICE BUILDING • 1,430 SF
      27 Rustic Dr, Howell, NJ 07731
      View Details
    • Value Estimation
      $390,000
      3,112 SF

      3643 Us Hwy 9th 9

      OFFICE BUILDING • 3,112 SF
      3643 Us Hwy 9th 9, Howell, NJ 07731
      View Details
    • Value Estimation
      $465,000
      13.24 Acres

      Oak Gln Rd

      OFFICE BUILDING • 13.24 Acres
      Oak Gln Rd, Howell, NJ 07731
      View Details
    • Value Estimation by Request
      28,000 SF

      1007 Us-9

      Medical offices • 28,000 SF
      1007 Us-9, Howell Township, NJ 07731
      View Details

    Similar Nearby for Sale

    • $299,000

      High-Visibility Commercial Land on Route 9

      Prime commercial land with high development potential on Route 9.
      9 Rustic Dr, Howell, NJ 07731
      View Details
    • $1,900,000
      5,990 SF

      Renovated Warehouse and Showroom

      Completely renovated building with warehouse, showroom, and offices.
      1029 Us 9, Howell, NJ 07731
      View Details
    • $3,750,000
      7,800 SF

      Office Warehouse with Expansion Potential

      Howell commercial property featuring office, warehouse, and expansion approvals.
      19 Miller Rd, Howell, NJ 07731
      View Details
    • $725,000
      3,100 SF

      Medical Office Condo For Sale

      Three contiguous medical condo units, ideal for medical practice.
      303 Candlewood Cmns, Howell, NJ 07731
      View Details
    • $495,000

      Medical Office Building For Sale

      1640 SF medical office building subject to existing tenancy.
      3701 Us Highway 9, Howell, NJ 07731
      View Details
    • $495,000
      0.37 Acres

      Howell Medical Office Building

      Prime Howell location, 1640 sq ft.
      3701 Us Highway 9, Howell, NJ 07731
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,000 SF

      High-Visibility Commercial Building on US Hwy 9

      1,000 SF commercial building on US Hwy 9 in Howell, NJ.
      3501 Us Highway 9, Howell, NJ 07731
      View Details
    • $27 SF/Yr
      1 SF

      Route 9 Howell Office Suites

      Newly renovated Howell offices, ample parking.
      3548 Us-9, Howell Township, NJ 07731
      View Details
    • Contact for pricing
      33,700 SF

      Verdana Commons: Retail Opportunity

      High-traffic retail space, multiple units available.
      2501 Us-9, Howell Township, NJ 07731
      View Details
    • $25 SF/Yr
      28,000 SF

      Howell Medical Office Suite 107

      1,474 SF Medical Office Space in Howell, NJ
      1007 Us-9, Howell Township, NJ 07731
      View Details
    • Contact for pricing
      2,969 SF

      Howell Township Retail Space For Lease

      Prime Howell location, 2,969 SF retail space.
      1990 Us-9, Howell Township, NJ 07731
      View Details
    • Contact for pricing
      2,500 SF

      Retail Building with Drive-Thru

      Two-story, 3,800 SF building with drive-thru on Route 9.
      4007 Us Highway 9, Howell, NJ 07731
      View Details
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    24 Rustic Dr
    Howell, NJ 07731
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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