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    493 State Rte 79 Morganville, NJ 07751-9706

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    493 State Rte 79 Morganville, NJ 07751-9706

    View on Map
    • Drug stores
    • 12,900 SF
    • 3.00 lot acres
    Off-Market
    Property ID
    US59-2207980
    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.
    Value Estimations
    $765,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Drug stores

    Property Details for 493 State Rte 79

    Year built
    2013
    Lot size
    3.00 lot acres
    Property size
    12,900 SF
    Zone code
    C-2
    Property type
    Drug stores
    APN
    30 00122-0000-00027- 03
    APU
    300012200000002703

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $1,180,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Morganville
    County
    Monmouth
    State
    New Jersey
    Longitude
    -74.2409
    Latitude
    40.3858
    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
    2023
    $46,832
    $330,000
    $1,610,000
    $1,940,000
    -
    $330,000
    $1,610,000
    $1,940,000

    Comparable in this City

    • Value Estimation by Request
      3,534 SF

      473 State Rte 79

      FINANCIAL BUILDING • 3,534 SF
      473 State Rte 79, Morganville, NJ 07751-9787
      View Details
    • Value Estimation
      $1,915,000
      14,790 SF

      67 Us Hwy 9th 9

      RETAIL STORES (PERSONAL SERVICES) • 14,790 SF
      67 Us Hwy 9th 9, Morganville, NJ 07751-1586
      View Details
    • Value Estimation by Request
      3,456 SF

      172 10th Rd

      GROCERY, SUPERMARKET • 3,456 SF
      172 10th Rd, Morganville, NJ 07751-1000
      View Details
    • Value Estimation by Request
      3,687 SF

      46 Rte 520

      FINANCIAL BUILDING • 3,687 SF
      46 Rte 520, Morganville, NJ 07751
      View Details
    • Value Estimation
      $3,950,000
      29,651 SF

      12 Us Hwy 9th 9

      REGIONAL SHOPPING CENTER, MALL • 29,651 SF
      12 Us Hwy 9th 9, Morganville, NJ 07751-1575
      View Details
    • Value Estimation
      $4,010,000
      4,816 SF

      33 Us Hwy 9th 9

      CAR WASH • 4,816 SF
      33 Us Hwy 9th 9, Morganville, NJ 07751-1525
      View Details

    Similar Nearby for Sale

    • $1,500,000
      1,220 SF

      Morganville Commercial Property For Sale

      Commercial property for sale in Morganville, NJ. 1,220 SF.
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    • $1,500,000
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      Morganville Land For Sale

      8.54 acre lot with 1,220 SF building in Morganville.
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    • $85,000
      0.30 Acres

      Prime Land in Morganville, NJ

      High-visibility land parcel in a high-traffic commercial corridor.
      608 Texas Rd, Morganville, NJ 07751
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    • $499,995
      Pending

      Buildable Land in Morganville, NJ

      Approximately 1 acre of shovel-ready land approved for construction.
      511 Tennent Rd, Morganville, NJ 07751
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    • $589,000
      5.89 Acres

      5.89 Acre Building Lot

      Unimproved 5.89 acre building lot in Morganville, New Jersey.
      660 Rte 520, Morganville, NJ 07751
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    • $499,995
      Pending

      Buildable Land in Morganville, NJ

      One acre of shovel-ready land approved for a 4000 sqft home.
      509 Tennent Rd, Morganville, NJ 07751
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    Similar Nearby for Lease

    • Contact for pricing
      12,000 SF

      Warehouse with Outdoor Storage

      20,000 SF building with warehouse, office, and outdoor storage.
      173 Amboy Rd, Morganville, NJ 07751
      View Details
    • $4,615 /Mo
      7,405 SF

      Renovated Office Space For Lease

      Fully renovated office building with high exposure and great signage.
      457 Rte 79, Morganville, NJ 07751
      View Details
    • Contact for pricing

      Newly Renovated Office/Commercial Space

      Newly renovated office/commercial space for lease with open floor plan.
      207 Commercial Ct, Morganville, NJ 07751
      View Details
    • Contact for pricing
      6,000 SF

      Restaurant Opportunity, Morganville, NJ

      6,000 SF stand-alone building approved for restaurant use.
      47 Tennent Rd, Morganville, NJ 07751
      View Details
    • Contact for pricing
      6,700 SF

      Morganville Warehouse with Office Space

      6,700 SF warehouse with office, loading dock, and drive-in.
      260 Tennent Rd, Morganville, NJ 07751
      View Details
    • Contact for pricing

      Marlboro Office Space For Rent

      2941 SF office space in desirable Morganville, Marlboro, NJ.
      712 Ginesi Dr, Morganville, NJ 07751
      View Details
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    Morganville, NJ 07751-9706
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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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