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Property profile & analytics
OFF-MARKET
Estimated value
$1,350,000
Commercial real estate
3 Prodelin Way Millstone Township, NJ 08535-8515
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US59-2441620
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Lot
11.11 ac (483,952 SF)
Zoning code
HC
APN
33 00016-0000-00011- 04
UPID
US59-2441620
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
$1.35M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.35M
Owner & transaction history
Prodelin Holding LLC · 1 yrs held
Prodelin Holding LLC
since 2024
Last sale
$1.4M
4 recorded transactions
Zoning & alternative use
HC · Millstone Township, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
HC, HIGHWAY COMMERCIAL ZONE. [ Ord. No. 96-16 ; Ord. No. 00-04 § III] Purpose: The Highway Commercial zoning district is intended to provide for service and retail commercial users along County Routes 526, 571 and 537, New Jersey Route 33 and Burnt Tavern Road.
Zone name
Highway Commercial
General category
COMMERCIAL
Zone area
352.26 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 Millstone Township submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Millstone Township 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
$1,350,000
ML approach
$1,350,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.35M
Range $1.22M – $1.49M · ±10% · vs last sale $1.35M (Sep 16 2024)
Last sale anchor
$1.35M
Sep 16 2024
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
—
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
$16,811
Tax year 2023
Assessed value
$676,500
Assessed 2024
Previous assessed
$676,500
+0.0% YoY
Effective rate
2.48%
On assessed value
Assessed land
$562,200
Assessed improvement
$114,300
Land market value
$562,200
Improvement market value
$114,300
Total market value
$676,500
Applied tax rate
33.0000
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
Heating
NONE
Buildings
1
Lot
11.11 ac (483,952 SF)
Zoning code
HC
APN
33 00016-0000-00011- 04
UPID
US59-2441620
Jurisdiction
MONMOUTH
Metro division
EDISON, NJ METROPOLITAN DIVISION
Zoning & alternative use
HC · Millstone Township, NJZoning HC · permitted uses
HC · Millstone Township, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
HC, HIGHWAY COMMERCIAL ZONE. [ Ord. No. 96-16 ; Ord. No. 00-04 § III] Purpose: The Highway Commercial zoning district is intended to provide for service and retail commercial users along County Routes 526, 571 and 537, New Jersey Route 33 and Burnt Tavern Road.
Zone name
Highway Commercial
General category
COMMERCIAL
Zone area
352.26 ac
Building & site characteristics
From public records
Heating
NONE
Buildings
1
Lot
11.11 ac
Current owner
From public records · entity-resolved
Prodelin Holding LLC
Entity
Mailing address
20 FOUNTAYNE LN E, MANALAPAN, NJ 07726-8852
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 16, 2024
$1,350,000
Prodelin Holding LLC
Brian O Lipman
Deed
$1,403,400 · The Bancorp Bank
Oct 9, 2015
—
Millstone Property Invs LLC
Millstone Property Invs LLC
Quit Claim Deed
related
—
Jul 31, 2014
—
Millstone Property Inv LLC
Millstone Property Inv LLC
Quit Claim Deed
related
—
Jun 23, 2014
—
Millstone Property Invs LLC
Millstone Property Invs LLC
Quit Claim Deed
related
—
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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