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Property profile & analytics
OFF-MARKET
Estimated value
$690,000
Commercial real estate
273 Shrewsbury Ave Red Bank, NJ 07701-1359
Entity Owned
Free & Clear
Property ID
US59-1868996
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Construction
CONCRETE BLOCKS
Total area
3,619 SF
Lot
0.11 ac (4,650 SF)
Zoning code
NB
APN
39 00077-0000-00001
UPID
US59-1868996
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
$750k
Comparable Approach
Comparable
$547k
Blend (final)
Blend
$690k
Owner & transaction history
Thrive Rb LLC
Thrive Rb LLC
since 2025
6 recorded transactions
Zoning & alternative use
NB · Red Bank, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
gulations. § 490-137 RA Residential Zone District. § 490-138 RB Residential Zone District. § 490-139 R-B1 Residential Zone District. § 490-140 R-B2 Residential Zone District. § 490-141 RD Residential District. § 490-142 NB Neighborhood Business District. § 490-143 HB Highway Business Zone District. § 490-144 CCD-1 Central Commercial District-1. § 490-145 CCD…
Zone name
Neighborhood Business
General category
COMMERCIAL
Zone area
15.97 ac
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 Red Bank submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Red Bank 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%
$815,000
6.5%
$750,000
7%
$700,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,075,000
Current use
OFFICE BUILDING
$890,000
Change: -17% · Conversion: Easy
Blend value · Realmo final
$690k
Range $621k – $759k · ±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
$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 2022Property tax & assessments
Tax year 2022
Tax billed
$16,319
Tax year 2022
Assessed value
$912,600
Assessed 2023
Previous assessed
$912,600
+0.0% YoY
Effective rate
1.79%
On assessed value
Assessed land
$196,200
Assessed improvement
$716,400
Land market value
$196,200
Improvement market value
$716,400
Total market value
$912,600
Applied tax rate
39.0000
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
Construction
CONCRETE BLOCKS
Heating
NONE
Buildings
1
Total area
3,619 SF
Lot
0.11 ac (4,650 SF)
Zoning code
NB
APN
39 00077-0000-00001
UPID
US59-1868996
Jurisdiction
MONMOUTH
Metro division
EDISON, NJ METROPOLITAN DIVISION
Zoning & alternative use
NB · Red Bank, NJZoning NB · permitted uses
NB · Red Bank, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
gulations. § 490-137 RA Residential Zone District. § 490-138 RB Residential Zone District. § 490-139 R-B1 Residential Zone District. § 490-140 R-B2 Residential Zone District. § 490-141 RD Residential District. § 490-142 NB Neighborhood Business District. § 490-143 HB Highway Business Zone District. § 490-144 CCD-1 Central Commercial District-1. § 490-145 CCD-2 Central Commercial District-2. § 490-146 BR-1 Business/Residential-1 District.
Zone name
Neighborhood Business
General category
COMMERCIAL
Zone area
15.97 ac
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$1.1M
OFFICE BUILDING
Est. value
$890,000
COMMERCIAL (GENERAL) Current
OFFICE BUILDING
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
Construction
CONCRETE BLOCKS
Heating
NONE
Buildings
1
Lot
0.11 ac
Current owner
From public records · entity-resolved
Thrive Rb LLC
Entity
Free & Clear · 0 yrs held
Mailing address
269 SHREWSBURY AVE #273, RED BANK, NJ 07701-1359
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
Dec 18, 2025
—
Thrive Rb LLC
American Real Estate Opp Fund LLC
Deed
—
Aug 22, 2025
—
Thrive Rb LLC
—
Deed
related
$7,250,000 · Manasquan Bank
Dec 3, 2018
$905,000
American R & E Opportunity Fund
Lk & Ms Properties LLC
Grant Deed
related
—
Apr 13, 2017
$575,000
Lk & Ms Properties LLC
Flego,mario & Amelia
Grant Deed
$752,807 · Univest Bk & Tr Co
Nov 24, 2004
—
Whelan & West LLC
—
Trustees Deed
related
$355,000 · Two River Community Bank
—
—
Mario Flego
—
Deed Of Trust
related
$181,000 · Wachovia 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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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