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Property profile & analytics
OFF-MARKET
Industrial properties
651 Lambs Rd Pitman, NJ 08071-2042
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US59-0916105
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1970
Construction
CONCRETE BLOCKS
Lot
13.13 ac (571,943 SF)
Zoning code
PI
APN
15 00218-0000-00001
UPID
US59-0916105
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
-
Comet Tool Co Factory Production Facility
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
Comet Tool Co INC · 9 yrs held
Comet Tool Co INC
since 2017
6 recorded transactions
Zoning & alternative use
PI · Pitman, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
Every building or use in the PI District shall comply with the following area, yard and height, regulations: a. Applicability of Regulations. 1. When a planned development consisting of a tract of land divided into smaller interior lots is proposed, the tract and internal lot requirements listed below shall apply accordingly. 2. When a development consisting…
Zone name
Planned Industrial
General category
INDUSTRIAL
Zone area
171.75 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 Pitman submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Pitman 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
$78,349
Tax year 2022
Assessed value
$2,398,200
Assessed 2023
Previous assessed
$2,398,200
+0.0% YoY
Effective rate
3.27%
On assessed value
Assessed land
$722,200
Assessed improvement
$1,676,000
Land market value
$722,200
Improvement market value
$1,676,000
Total market value
$2,398,200
Applied tax rate
15.0000
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1970
Construction
CONCRETE BLOCKS
Heating
NONE
Stories
1
Lot
13.13 ac (571,943 SF)
Zoning code
PI
APN
15 00218-0000-00001
UPID
US59-0916105
Jurisdiction
GLOUCESTER
Metro division
CAMDEN, NJ METROPOLITAN DIVISION
Zoning & alternative use
PI · Pitman, NJZoning PI · permitted uses
PI · Pitman, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
Every building or use in the PI District shall comply with the following area, yard and height, regulations: a. Applicability of Regulations. 1. When a planned development consisting of a tract of land divided into smaller interior lots is proposed, the tract and internal lot requirements listed below shall apply accordingly. 2. When a development consisting only of one parcel of land is proposed, that parcel shall be considered the tract and the requirements for tract below shall apply. b. Minimum Tract Size. A minimum tract area of five acres shall be provided. c. Minimum Tract Setback. The following minimum tract setbacks shall be provided. No buildings, parking, circulation or other improvements, with the exception of a planted buffer and emergency or fire access routes, shall be permitted within this setback. 1. One hundred feet to existing public road or residentially zoned property. 2.
Zone name
Planned Industrial
General category
INDUSTRIAL
Zone area
171.75 ac
Building & site characteristics
From public records
Year built
1970
Construction
CONCRETE BLOCKS
Heating
NONE
Stories
1
Lot
13.13 ac
Current owner
From public records · entity-resolved
Comet Tool Co INC
Entity
Mailing address
651 LAMBS RD, PITMAN, NJ 08071-2042
Mailing matches property
Yes
Owner-occupied
Yes
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 16, 2024
—
Comet Tool Company INC
—
Deed
related
$500,000 · Republic First Bank
May 31, 2022
—
Comet Tool Company INC
—
Deed
related
$835,000 · Republic First Bank
Nov 30, 2018
—
Comet Tool Company INC
—
Deed
related
$500,000 · Republic First Bank
Nov 29, 2018
—
Cornet Tool Co LLC
—
Deed
related
$506,866 · Republic First Bank
Feb 1, 2017
—
Comet Tool Co INC
Comet Tool Co LLC
Quit Claim Deed
—
Oct 1, 2001
—
Comet Tool Co LLC
Comet Tool Co
Quit Claim 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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