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Property profile & analytics
OFF-MARKET
Estimated value
$3,095,000
Industrial properties
505 Memorial Dr Neptune, NJ 07753-5177
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US59-1605228
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1960
Construction
CONCRETE BLOCKS
Total area
12,000 SF
Lot
0.75 ac (32,670 SF)
Zoning code
TV
APN
35 00413-0000-00003
UPID
US59-1605228
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
Current use
Occupant on record · Public records
-
Seman-Tov Inc. School Bus Service
-
Iron Supplies Factory Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.19M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.15M
Blend (final)
Blend
$3.10M
Owner & transaction history
505 Memorial Drive LLC · 4 yrs held
505 Memorial Drive LLC
since 2022
Last sale
$3.0M
2 recorded transactions
Zoning & alternative use
TV · Neptune, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$3.8M
+84.3%
Apartment house (5+ units)
$3.2M
+53.6%
Commercial (general)
$3.1M
+50.3%
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 Neptune submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Neptune 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
$3,145,000
ML approach
$3,190,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$2,065,000
Current use
OFFICE BUILDING
$3,805,000
Change: +84% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$3,170,000
Change: +54% · Conversion: Difficult
COMMERCIAL (GENERAL)
$3,105,000
Change: +50% · Conversion: Difficult
Blend value · Realmo final
$3.10M
Range $2.79M – $3.40M · ±10% · vs last sale $3.00M (Mar 15 2022)
Last sale anchor
$3.00M
Mar 15 2022
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
$258 / 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
$30,923
Tax year 2022
Assessed value
$1,838,600
Assessed 2023
Previous assessed
$1,838,600
+0.0% YoY
Effective rate
1.68%
On assessed value
Assessed land
$1,237,800
Assessed improvement
$600,800
Land market value
$1,237,800
Improvement market value
$600,800
Total market value
$1,838,600
Applied tax rate
35.0000
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1960
Construction
CONCRETE BLOCKS
Heating
NONE
Buildings
1
Stories
1
Total area
12,000 SF
Lot
0.75 ac (32,670 SF)
Zoning code
TV
APN
35 00413-0000-00003
UPID
US59-1605228
Jurisdiction
MONMOUTH
Metro division
EDISON, NJ METROPOLITAN DIVISION
Zoning & alternative use
TV · Neptune, NJ
Zoning TV · permitted uses
TV · Neptune, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Neptune. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$2.1M
OFFICE BUILDING
Est. value
$3.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.2M
COMMERCIAL (GENERAL)
Est. value
$3.1M
INDUSTRIAL (GENERAL) Current
OFFICE BUILDING
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
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
1960
Construction
CONCRETE BLOCKS
Heating
NONE
Stories
1
Buildings
1
Lot
0.75 ac
Current owner
From public records · entity-resolved
505 Memorial Drive LLC
Entity
Mailing address
505 MEMORIAL DR, NEPTUNE, NJ 07753-5177
Mailing matches property
Yes
Owner-occupied
Yes
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 15, 2022
$3,000,000
505 Memorial Drive LLC
Jcr Exchange LLC
Deed
$2,250,000 · Connectone Bank
Dec 28, 2021
—
Jcr Exchange LLC
Jjp P Co
Deed
—
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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