Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    598 Palmer Ave North Middletown, NJ 07748-5171
    Back to Search
    Property profile & analytics

    598 Palmer Ave, North Middletown, NJ 07748-5171

    View on Map
    • Commercial real estate
    • 1,180 SF
    • 0.38 lot acres
    Off-Market
    Last Sale Jul 8, 2022
    $300,000
    Property ID
    US59-0469870
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Krystle Clear Productions / Film Production / Television Studio

    Property Details for 598 Palmer Ave

    Year built
    1953
    Construction
    FRAME
    Lot size
    0.38 lot acres
    Zone code
    R-22
    Property type
    Commercial real estate
    APN
    32 00193-0000-00053
    APU
    3200193000000053

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jul 8, 2022 $300,000 Brusco Enterprises LLC Justin Yahara Deed —
    Mar 14, 2013 $240,000 Justin Yahara Ortiz,charles Grant Deed $180k · Colonial American Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    North Middletown
    County
    Monmouth
    State
    New Jersey
    Longitude
    -74.132
    Latitude
    40.4295
    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
    2022
    $5,144
    $181,900
    $113,800
    $295,700
    -
    $181,900
    $113,800
    $295,700

    Comparable in this City

    • Value Estimation by Request
      0.42 Acres

      44 Leonardville Rd

      COMMERCIAL (GENERAL)
      44 Leonardville Rd, Middletown, NJ 07748-2338
      View Details
    • Value Estimation by Request
      9.05 Acres

      1230 State Rte 35th Rd

      COMMERCIAL (GENERAL)
      1230 State Rte 35th Rd, Middletown, NJ 07748-2013
      View Details
    • Value Estimation
      $1,650,000
      7,200 SF

      1670 State Rte 35

      COMMERCIAL (GENERAL)
      1670 State Rte 35, Middletown, NJ 07748-1670
      View Details
    • Value Estimation
      $535,000
      3,104 SF

      858 State Rte 35

      COMMERCIAL (GENERAL)
      858 State Rte 35, Middletown, NJ 07748-3411
      View Details
    • Value Estimation
      $7,960,000
      67,999 SF

      626 State Rte 35

      COMMERCIAL (GENERAL)
      626 State Rte 35, Middletown, NJ 07748-3409
      View Details
    • Value Estimation by Request
      27,226 SF

      1500 State Rte 35

      COMMERCIAL (GENERAL)
      1500 State Rte 35, Middletown, NJ 07748-1831
      View Details

    Similar Nearby for Sale

    • $1,000,000

      Prime Middletown Music Studio

      Award-winning studio, equipment & memorabilia.
      0000 Hwy 36, Middletown, NJ 07748
      View Details
    • Contact for pricing

      Prime Commercial Land Opportunity

      Commercial land with high visibility and frontage on Route 36.
      33 State Route 36, Middletown, NJ 07748
      View Details
    • Contact for pricing
      3,400 SF

      Profitable Italian Restaurant Business Opportunity

      Turnkey Italian restaurant business for sale, seats 85.
      26 State Route 36, North Middletown, NJ 07748
      View Details
    • $35,000
      0.23 Acres

      North Middletown Unimproved Land Parcel

      Land parcel in convenient location requiring buyer due diligence.
      S End Ave, North Middletown, NJ 07748
      View Details
    • $99,000
      Pending

      North Middletown Oversized Land Parcel

      Large lot near Henry Hudson Trail Park and Pews Creek.
      Clinton St, North Middletown, NJ 07748
      View Details
    • New
      $650,000
      Pending

      North Middletown Multifamily For Sale

      Multifamily property in North Middletown, New Jersey.
      289 Port Monmouth Rd, North Middletown, NJ 07748
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,500 SF

      Retail Space in Middletown, NJ

      Retail space for lease in a neighborhood shopping center.
      1040-1178 Rte 35, Middletown, NJ 07748
      View Details
    • Contact for pricing
      896 SF

      Retail Strip Center For Rent

      Retail strip center with proposed storage facility and renovations.
      663-673 Nj-35, Middletown, NJ 07748
      View Details
    • New
      Contact for pricing
      5,531 SF

      Middletown Commercial Building For Lease

      Stand-alone building on prime corner location, many uses allowed.
      2 Kings Hwy, Middletown, NJ 07748
      View Details
    • Contact for pricing

      Professional Office Space Available

      Single room offices for lease with flexible terms.
      18 Kings Hwy, Middletown, NJ 07748
      View Details
    • Contact for pricing
      1,750 SF

      Middletown Retail Space For Lease

      Retail space available for lease in Middletown, New Jersey.
      1580 State Route 35, Middletown, NJ 07748
      View Details
    • Contact for pricing
      1,989 SF

      Retail Space in Middletown, NJ

      Retail space available in busy Middletown shopping center.
      754-848 State Route 35, Middletown, NJ 07748
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    598 Palmer Ave
    North Middletown, NJ 07748-5171
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    598 Palmer Ave, North Middletown, NJ, 07748
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!