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Property profile & analytics
OFF-MARKET
Estimated value
$4,240,000
Commercial real estate
623 Texas Rd Morganville, NJ 07751-4114
Entity Owned
10-yr Hold
Absentee Owner
Free & Clear
Property ID
US59-3157534
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
2020
Total area
22,245 SF
Lot
24 ac (1,045,440 SF)
Zoning code
C-4
APN
30 00176-0000-00002- 01
UPID
US59-3157534
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
-
ALDI Specialty Food Shop Supermarket
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.62M
Comparable Approach
Comparable
$3.49M
Blend (final)
Blend
$4.24M
Owner & transaction history
American Plaza 3 LLC · 10 yrs held
American Plaza 3 LLC
since 2016
7 recorded transactions
Zoning & alternative use
C-4 · Morganville, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$5.9M
+1.9%
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 Morganville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Morganville 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%
$5,005,000
6.5%
$4,620,000
7%
$4,290,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$5,770,000
Current use
APARTMENT HOUSE (5+ UNITS)
$5,880,000
Change: +2% · Conversion: Moderate
OFFICE BUILDING
$5,485,000
Change: -5% · Conversion: Easy
Blend value · Realmo final
$4.24M
Range $3.82M – $4.66M · ±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
$191 / 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
$113,885
Tax year 2022
Assessed value
$4,807,300
Assessed 2023
Previous assessed
$4,807,300
+0.0% YoY
Effective rate
2.37%
On assessed value
Assessed land
$2,640,000
Assessed improvement
$2,167,300
Land market value
$2,640,000
Improvement market value
$2,167,300
Total market value
$4,807,300
Applied tax rate
30.0000
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
2020
Heating
NONE
Total area
22,245 SF
Lot
24 ac (1,045,440 SF)
Zoning code
C-4
APN
30 00176-0000-00002- 01
UPID
US59-3157534
Jurisdiction
MONMOUTH
Metro division
EDISON, NJ METROPOLITAN DIVISION
Zoning & alternative use
C-4 · Morganville, NJZoning C-4 · permitted uses
C-4 · Morganville, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$5.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$5.9M
OFFICE BUILDING
Est. value
$5.5M
COMMERCIAL (GENERAL) Current
APARTMENT HOUSE (5+ UNITS)
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
2020
Heating
NONE
Lot
24 ac
Current owner
From public records · entity-resolved
American Plaza 3 LLC
Entity
Free & Clear · 10 yrs held
Mailing address
1260 STELTON RD, PISCATAWAY, NJ 08854-5282
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 10, 2021
—
American Plaza 3 LLC
—
Deed
related
$4,000,000 · Peoples Security Bank & Trust Company
Jun 1, 2016
$900,000
American Plaza 3 LLC
American Plaza Development LLC
Grant Deed
related
—
Jun 1, 2016
—
American Plaza Development LLC
David Elkouby
Grant Deed
related
—
Aug 13, 2014
—
David Elkouby
David Elkouby
Quit Claim Deed
related
—
Feb 8, 2007
—
Elkouby,david
American Plaza Dev LLC
Grant Deed
related
—
Dec 13, 2005
—
Daroci,steven J & Doris J
Steven J Daroci
Quit Claim Deed
related
—
Dec 13, 2005
$999,000
American Plaza Dev LLC
Steven J Daroci
Grant 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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