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Property profile & analytics
OFF-MARKET
Commercial real estate
515 Shrewsbury Ave Shrewsbury, NJ 07702-4061
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US59-0938862
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1894
Total area
12,269 SF
Lot
3.6 ac (156,816 SF)
Zoning code
B-3
APN
44 00003-0000-00001
UPID
US59-0938862
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
by Request
Owner & transaction history
Shp Vi Shrewsbury LLC · 4 yrs held
Shp Vi Shrewsbury LLC
since 2021
Last sale
$39.0M
5 recorded transactions
Zoning & alternative use
B-3 · Shrewsbury, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
enior Citizen Development Option) Zone District. § 94-10.6 R-1B Single-Family/Senior Citizen Residential Zone District. § 94-10.7 Business Zones § 94-10.7.1 B-1 Business Zone District. § 94-10.7.2 (Reserved) § 94-10.7.3 B-3 Business Service Zone. § 94-10.8 B-2 Business Shopping/Office Center Zone District. § 94-10.9 HC/PO Highway Commercial/Professional Offi…
Zone name
Business Service
General category
MIXED_USE
Zone area
10.44 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 Shrewsbury submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Shrewsbury 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
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 2022Property tax & assessments
Tax year 2022
Tax billed
$308,258
Tax year 2022
Assessed value
$15,800,000
Assessed 2023
Previous assessed
$15,800,000
+0.0% YoY
Effective rate
1.95%
On assessed value
Assessed land
$3,006,100
Assessed improvement
$12,793,900
Land market value
$3,006,100
Improvement market value
$12,793,900
Total market value
$15,800,000
Applied tax rate
44.0000
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
1894
Heating
NONE
Buildings
1
Total area
12,269 SF
Lot
3.6 ac (156,816 SF)
Zoning code
B-3
APN
44 00003-0000-00001
UPID
US59-0938862
Jurisdiction
MONMOUTH
Metro division
EDISON, NJ METROPOLITAN DIVISION
Zoning & alternative use
B-3 · Shrewsbury, NJZoning B-3 · permitted uses
B-3 · Shrewsbury, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
enior Citizen Development Option) Zone District. § 94-10.6 R-1B Single-Family/Senior Citizen Residential Zone District. § 94-10.7 Business Zones § 94-10.7.1 B-1 Business Zone District. § 94-10.7.2 (Reserved) § 94-10.7.3 B-3 Business Service Zone. § 94-10.8 B-2 Business Shopping/Office Center Zone District. § 94-10.9 HC/PO Highway Commercial/Professional Office Zone District. § 94-10.10 P-1 Professional Zone District. § 94-10.11 LI Light In
Zone name
Business Service
General category
MIXED_USE
Zone area
10.44 ac
Building & site characteristics
From public records
Year built
1894
Heating
NONE
Buildings
1
Lot
3.6 ac
Current owner
From public records · entity-resolved
Shp Vi Shrewsbury LLC
Entity
Mailing address
3348 PEACHTREE RD NE STE #1100, ATLANTA, GA 30326-1447
Ownership since
2021
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
Dec 5, 2023
—
Shp Vi Shrewsbury LLC
—
Deed
related
$186,608,000 · Wells Fargo Bank NA
Oct 22, 2021
$38,967,315
Shp Vi Shrewsbury LLC
Csh Shrewsbury LLC
Deed
$216,608,000 · Wells Fargo Bank NA
Apr 23, 2018
—
Jersey Ctrl Power & Light Co
Csh Shrewsbury LLC
Grant Deed
related
—
Jul 18, 2017
$3,050,000
Csh Shrewsbury LLC
W & E Nursing Home INC
Trustees Deed
$16,745,000 · Manufacturers & Traders Tr
Jul 18, 2017
—
County Of Monmouth
Csh Shrewsbury LLC
Grant 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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