Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    60-62 Brg Ave, Unit 62 Red Bank, NJ 07701-1160

    • Commercial real estate
    • 1,508 SF
    • 0.08 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US59-1367129
    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.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 60-62 Brg Ave

    Construction
    FRAME
    Lot size
    0.08 lot acres
    Property size
    1,508 SF
    Zone code
    8950
    Property type
    Commercial real estate
    APN
    39 00040-0000-00010
    APU
    3900040000000010

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Red Bank
    County
    Monmouth
    State
    New Jersey
    Longitude
    -74.0754
    Latitude
    40.3485
    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
    $10,033
    $323,800
    $199,000
    $522,800
    -
    $323,800
    $199,000
    $522,800

    Comparable in this City

    • Value Estimation by Request
      0.08 Acres

      Monmouth St

      COMMERCIAL (GENERAL) • 0.08 Acres
      Monmouth St, Red Bank, NJ 07701
      View Details
    • Value Estimation by Request
      0.19 Acres

      191-193 Shrewsbury Ave, Unit 193

      COMMERCIAL (GENERAL) • 0.19 Acres
      191-193 Shrewsbury Ave, Red Bank, NJ 07701-1286
      View Details
    • Value Estimation
      $895,000
      3,687 SF

      33 Allen Pl

      COMMERCIAL (GENERAL) • 3,687 SF
      33 Allen Pl, Red Bank, NJ 07701-1001
      View Details
    • Value Estimation
      $3,100,000
      15,480 SF

      21 Gilbert St

      COMMERCIAL (GENERAL) • 15,480 SF
      21 Gilbert St, Tinton Falls, NJ 07701-4950
      View Details
    • Value Estimation
      $15,760,000
      80,762 SF

      245 Half Mile Rd

      COMMERCIAL (GENERAL) • 80,762 SF
      245 Half Mile Rd, Red Bank, NJ 07701-6747
      View Details
    • Value Estimation
      $2,465,000
      12,989 SF

      500 Shrewsbury Ave

      COMMERCIAL (GENERAL) • 12,989 SF
      500 Shrewsbury Ave, Tinton Falls, NJ 07701-4906
      View Details

    Similar Nearby for Sale

    • $949,000
      1,890 SF

      Red Bank Retail Space - $949K

      Prime 1890 SF Retail, Vacant, NNN Lease.
      177 Broad St, Red Bank, NJ 07701
      View Details
    • $385,000

      Updated Condo in Gated Community

      Updated first-level condo in a premier 55+ gated community.
      11 Manchester Ct, Tinton Falls, NJ 07701
      View Details
    • $275,000

      Red Bank Vacant Zoned Property

      Vacant commercial residential zoned property in prime Red Bank location.
      232 S Pearl St, Tinton Falls, NJ 07701
      View Details
    • $415,000

      Renovated Unit in 55+ Community

      Move-in ready, renovated 2-bedroom unit in Shady Oaks.
      60 Privet Pl, Tinton Falls, NJ 07701
      View Details
    • $429,000

      Renovated Condo with Lake Views

      Red Bank condo with lake views and modern updates.
      50 Friendship Ct, Tinton Falls, NJ 07701
      View Details
    • $575,000

      Villa in Active Adult Community

      Villa with garage in Shady Oaks active adult community.
      80 Boxwood Ter, Tinton Falls, NJ 07701
      View Details

    Similar Nearby for Lease

    • $22 SF/Yr
      17,630 SF

      Regus Red Bank Office Suites

      Premium Red Bank workspace, flexible options.
      125 Half Mile Rd, Red Bank, NJ 07701
      View Details
    • Contact for pricing
      29,178 SF

      Red Bank Executive Office Space

      Prestigious Office Suites in Red Bank, NJ
      151 Bodman Pl, Red Bank, NJ 07701
      View Details
    • New
      Contact for pricing

      Renovated Victorian Office Building

      Stand-alone renovated Victorian office building for lease in Red Bank.
      286 Broad St, Red Bank, NJ 07701
      View Details
    • $625 /Mo

      Renovated Office Space Available

      Renovated office suite in Red Bank, utilities included.
      333 Broad St Unit Office 3 /, Red Bank, NJ 07701
      View Details
    • $40 SF/Yr
      3,000 SF

      Prime Retail/Restaurant Space Available

      3,000 SF retail or restaurant space in Red Bank.
      40 Broad St, Red Bank, NJ 07701
      View Details
    • Contact for pricing
      2,500 SF

      Medical/General Office Space Available

      Commercial space suitable for medical or general office use.
      215 Broad St, Eatontown, NJ 07701
      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.
    60-62 Brg Ave, Unit 62
    Red Bank, NJ 07701-1160
    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

    Google sign-in failed. Please try again or use another login method.