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Property profile & analytics
OFF-MARKET
Estimated value
$1,485,000
Residential income homes
510-512 5th Ave 512, Asbury Park, NJ 07712-5449
Entity Owned
9-yr Hold
Property ID
US59-1807756
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1969
Construction
TYPE NOT SPECIFIED
Total area
8,100 SF
Lot
0.43 ac (18,750 SF)
Zoning code
R2
APN
04 03503-0000-00001
UPID
US59-1807756
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
by Request
Blend (final)
Blend
$1.49M
Owner & transaction history
510 5th LLC · 9 yrs held
510 5th LLC
since 2016
7 recorded transactions
Zoning & alternative use
R2 · Asbury Park, 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 Asbury Park submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Asbury Park 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
APARTMENT HOUSE (5+ UNITS)
$2,140,000
Current use
COMMERCIAL (GENERAL)
$2,065,000
Change: -4% · Conversion: Moderate
OFFICE BUILDING
$1,995,000
Change: -7% · Conversion: Moderate
Blend value · Realmo final
$1.49M
Range $1.34M – $1.63M · ±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
$183 / 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
$34,424
Tax year 2022
Assessed value
$3,017,100
Assessed 2023
Previous assessed
$3,017,100
+0.0% YoY
Effective rate
1.14%
On assessed value
Assessed land
$805,000
Assessed improvement
$2,212,100
Land market value
$805,000
Improvement market value
$2,212,100
Total market value
$3,017,100
Applied tax rate
4.0000
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
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Status
Off-Market
Year built
1969
Construction
TYPE NOT SPECIFIED
Heating
NONE
Buildings
1
Stories
3
Units
1
Total area
8,100 SF
Lot
0.43 ac (18,750 SF)
Zoning code
R2
APN
04 03503-0000-00001
UPID
US59-1807756
Jurisdiction
MONMOUTH
Metro division
EDISON, NJ METROPOLITAN DIVISION
Zoning & alternative use
R2 · Asbury Park, NJ
Zoning R2 · permitted uses
R2 · Asbury Park, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Asbury Park. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$2.1M
COMMERCIAL (GENERAL)
Est. value
$2.1M
OFFICE BUILDING
Est. value
$2.0M
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
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
Year built
1969
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
3
Buildings
1
Units
1
Lot
0.43 ac
Current owner
From public records · entity-resolved
510 5th LLC
Entity
Mailing address
PO BOX 573, ASBURY PARK, NJ 07712-0573
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 29, 2016
$2,875,000
510 5th LLC
510 5th LLC
Grant Deed
related
$2,156,250 · First Choice Bk
Aug 29, 2016
—
510 5th Ave LLC
—
Trustees Deed
related
$468,750 · First Choice Bk
Nov 16, 2012
$1,775,000
510 Fifth LLC
Midtown Apartments LLC
Grant Deed
$1,331,250 · Investors Bank & Trust
Mar 29, 2011
$1,525,000
Midtown Apts LLC
510-512 Fifth Avenue Apts INC
Grant Deed
$1,025,000 · Marathon National Bank Ny
—
—
Christime Cardellino
—
Deed Of Trust
related
$446,750 · Resmac
—
—
510 Fifth LLC
—
Deed Of Trust
related
$1,740,000 · Customers Bk
—
—
510 5th Ave LLC
—
Deed Of Trust
related
$4,711,000 · Arbor Agcy Lndg LLC
—
—
510-512 5th Ave Apts INC
—
Deed Of Trust
related
$1,050,000 · Washington Mutual Fsb
—
—
510-512 Fifth Ave Apts INC
—
Deed Of Trust
related
$900,000 · Washington Mutual Fsb
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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