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Property profile & analytics
OFF-MARKET
Estimated value
$5,675,000
Residential income homes
65 Morrell St New Brunswick, NJ 08901-1484
Entity Owned
8-yr Hold
Property ID
US59-2149150
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
2016
Construction
FRAME
Total area
24,000 SF
Lot
0.23 ac (10,001 SF)
Zoning code
6TH
APN
13 00080-0000-00010- 01
UPID
US59-2149150
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
-
Central Jersey Process Service Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$6.18M
Comparable Approach
Comparable
$7.04M
Blend (final)
Blend
$5.68M
Owner & transaction history
65 Morrell LLC · 8 yrs held
65 Morrell LLC
since 2017
4 recorded transactions
Zoning & alternative use
6TH · New Brunswick, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$6.8M
+11.7%
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 New Brunswick submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs New Brunswick 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%
$6,695,000
6.5%
$6,180,000
7%
$5,740,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$6,115,000
Current use
OFFICE BUILDING
$6,825,000
Change: +12% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$5,345,000
Change: -13% · Conversion: Difficult
COMMERCIAL (GENERAL)
$5,040,000
Change: -18% · Conversion: Moderate
Blend value · Realmo final
$5.68M
Range $5.11M – $6.24M · ±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
$236 / 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
$164,834
Tax year 2022
Assessed value
$6,622,500
Assessed 2023
Previous assessed
$6,622,500
+0.0% YoY
Effective rate
2.49%
On assessed value
Assessed land
$1,187,500
Assessed improvement
$5,435,000
Land market value
$1,187,500
Improvement market value
$5,435,000
Total market value
$6,622,500
Applied tax rate
13.0000
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
2016
Construction
FRAME
Heating
NONE
Stories
2
Units
1
Total area
24,000 SF
Lot
0.23 ac (10,001 SF)
Zoning code
6TH
APN
13 00080-0000-00010- 01
UPID
US59-2149150
Jurisdiction
MIDDLESEX
Metro division
EDISON, NJ METROPOLITAN DIVISION
Zoning & alternative use
6TH · New Brunswick, NJ
Zoning 6TH · permitted uses
6TH · New Brunswick, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
New Brunswick. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$6.1M
OFFICE BUILDING
Est. value
$6.8M
INDUSTRIAL (GENERAL)
Est. value
$5.3M
COMMERCIAL (GENERAL)
Est. value
$5.0M
APARTMENT HOUSE (5+ UNITS) Current
OFFICE BUILDING
INDUSTRIAL (GENERAL)
COMMERCIAL (GENERAL)
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
2016
Construction
FRAME
Heating
NONE
Stories
2
Units
1
Lot
0.23 ac
Current owner
From public records · entity-resolved
65 Morrell LLC
Entity
Mailing address
1200 SUNNYVIEW OVAL, KEASBEY, NJ 08832-1049
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 13, 2017
$6,000,000
65 Morrell LLC
Ray Street Holdings LLC
Grant Deed
$12,600,000 · Northfield Bk
Nov 16, 2015
—
Ray Street Holdings LLC
Ray Street Holdings LLC
Quit Claim Deed
related
—
Sep 28, 2015
—
Ray Street Holdings LLC
—
Trustees Deed
related
$6,000,000 · Columbia Bk
Nov 14, 2014
$380,000
Ray Street Holdings LLC
Van Orden,robert H & Barbara A
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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