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Property profile & analytics
OFF-MARKET
Estimated value
$2,790,000
Commercial real estate
49-51 1st Ave 51 Atlantic Highlands, NJ 07716-1242
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US59-1379478
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
2000
Total area
23,500 SF
Lot
0.28 ac (12,327 SF)
Zoning code
B-1
APN
05 00117-0000-00010
UPID
US59-1379478
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
by Request
Comparable Approach
Comparable
$3.53M
Blend (final)
Blend
$2.79M
Owner & transaction history
Blue Bay Realty LLC · 3 yrs held
Blue Bay Realty LLC
since 2022
5 recorded transactions
Zoning & alternative use
B-1 · Atlantic Highlands, 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 Atlantic Highlands submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Atlantic Highlands 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$4,605,000
Current use
Blend value · Realmo final
$2.79M
Range $2.51M – $3.07M · ±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
$119 / 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
$51,090
Tax year 2022
Assessed value
$2,945,600
Assessed 2023
Previous assessed
$2,945,600
+0.0% YoY
Effective rate
1.73%
On assessed value
Assessed land
$1,402,300
Assessed improvement
$1,543,300
Land market value
$1,402,300
Improvement market value
$1,543,300
Total market value
$2,945,600
Applied tax rate
5.0000
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
2000
Heating
NONE
Buildings
1
Total area
23,500 SF
Lot
0.28 ac (12,327 SF)
Zoning code
B-1
APN
05 00117-0000-00010
UPID
US59-1379478
Jurisdiction
MONMOUTH
Metro division
EDISON, NJ METROPOLITAN DIVISION
Zoning & alternative use
B-1 · Atlantic Highlands, NJ
Zoning B-1 · permitted uses
B-1 · Atlantic Highlands, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Atlantic Highlands. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$4.6M
COMMERCIAL (GENERAL) Current
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
2000
Heating
NONE
Buildings
1
Lot
0.28 ac
Current owner
From public records · entity-resolved
Blue Bay Realty LLC
Entity
Mailing address
15 HL RD, ATLANTIC HIGHLANDS, NJ 07716-1504
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 14, 2022
—
Blue Bay Realty LLC
Blue Bay Hospitality LLC
Bargain And Sale Deed
$2,854,040 · Oceanfirst Bank
Jul 26, 2022
—
Blue Bay Hospitality LLC
Dirouhi Krikorian
Deed
—
Dec 17, 2010
—
Dirouhi Krikorian
Krikorian,dirouhi
Quit Claim Deed
related
—
—
—
Dirouhi Krikorian
—
Loan Modification
related
$340,000 · Oceanfirst Bk
—
—
Krikorian,dirouhi
—
Deed Of Trust
related
$3,400,000 · Sun Nat'l 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.
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