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

    655 Park Ave Freehold, NJ 07728-3553

    • Office buildings
    • 5,328 SF
    • 0.23 lot acres
    OFF-MARKET
    Value Estimations
    $785,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US59-2758639
    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

    • Office buildings

    Property Details for 655 Park Ave

    Year built
    1947
    Lot size
    0.23 lot acres
    Property size
    5,328 SF
    Zone code
    B-2
    Property type
    Office buildings
    APN
    17 00048-0000-00012
    APU
    1700048000000012

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $760,000
      Market price range: $761k - $1.12M
      AI Estimate
      $714,000
      Market price range: $714k - $1.27M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $965,000
      Current use
      INDUSTRIAL (GENERAL)
      $1,100,000
      Change: +14% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,085,000
      Change: +13% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Freehold
    County
    Monmouth
    State
    New Jersey
    Longitude
    -74.2669
    Latitude
    40.25
    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
    $9,505
    $207,100
    $327,400
    $534,500
    -
    $207,100
    $327,400
    $534,500

    Comparable in this City

    • Value Estimation
      $8,425,000
      61,152 SF

      303 Main St

      OFFICE BUILDING • 61,152 SF
      303 Main St, Freehold, NJ 07728-4832
      View Details
    • Value Estimation
      $8,780,000
      64,383 SF

      3 Paragon Way

      OFFICE BUILDING • 64,383 SF
      3 Paragon Way, Freehold, NJ 07728-9575
      View Details
    • Value Estimation
      $9,055,000
      66,440 SF

      4 Paragon Way

      OFFICE BUILDING • 66,440 SF
      4 Paragon Way, Freehold, NJ 07728-7804
      View Details
    • Value Estimation
      $810,000
      5,434 SF

      31 Schanck Rd

      OFFICE BUILDING • 5,434 SF
      31 Schanck Rd, Freehold, NJ 07728-5307
      View Details
    • Value Estimation
      $530,000
      2,880 SF

      222 Ss St

      OFFICE BUILDING • 2,880 SF
      222 Ss St, Freehold, NJ 07728-2619
      View Details
    • Value Estimation by Request
      4,608 SF

      178 Ss St

      OFFICE BUILDING • 4,608 SF
      178 Ss St, Freehold, NJ 07728-2676
      View Details

    Similar Nearby for Sale

    • $2,250,000
      10,800 SF

      Versatile Commercial Space in Howell

      10,800 sq ft commercial space near Route 9.
      1 Dag Hammarskjold Blvd, Howell, NJ 07728
      View Details
    • $600,000
      1,276 SF

      Freehold Medical/Professional Office Building

      Four newly renovated suites zoned for medical or professional offices.
      190 South St, Freehold, NJ 07728
      View Details
    • New
      $549,900
      1,048 SF

      Freehold Office with Oversized Garage

      Work/professional office with detached oversized garage in convenient location.
      26 Jackson Mills Rd, Freehold, NJ 07728
      View Details
    • $600,000
      1,600 SF

      Built-Out Dental Office For Sale

      Fully equipped dental office with premium equipment and dedicated lab.
      4255 Rte 9, Freehold, NJ 07728
      View Details
    • $465,000
      Pending

      Route 9 Commercial Property

      Highly visible commercial property on Route 9 South in Freehold.
      620 Rte 9 S, Freehold, NJ 07728
      View Details
    • Contact for pricing
      2.25 Acres

      352 Monmouth Rd, Freehold, NJ 07728

      Office Properties & Spaces • 2.25 Acres
      352 Monmouth Rd, Freehold, NJ 07728
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Freehold Office Space Available

      Office spaces for rent in Freehold, NJ with tenant amenities.
      3 Paragon Way, Freehold, NJ 07728
      View Details
    • Contact for pricing

      Office Space Near CentraState Hospital

      Office space suitable for medical or professional use, near hospital.
      900 W Main St, Freehold, NJ 07728
      View Details
    • Contact for pricing
      2,614 SF

      Freehold Office Space For Rent

      Office space in the heart of Freehold, great visibility.
      4 B, Freehold, NJ 07728
      View Details
    • $20 SF/Yr
      2,950 SF

      Prime Farmingdale Office Space

      Turnkey Office Building, High Visibility
      949 Adelphia Farmingdale Rd Rd, Freehold, NJ 07728
      View Details
    • $15 SF/Yr
      49,842 SF

      Freehold Office Space: 7,000 SF Available

      Modern Freehold Office: 7,000 SF, Ample Parking
      86 Vanderveer Rd, Freehold, NJ 07728
      View Details
    • $2,500 /Mo

      Freehold Office Space For Rent

      First-floor office space suitable for medical or general business use.
      80 Scenic Dr, Freehold, NJ 07728
      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.
    655 Park Ave
    Freehold, NJ 07728-3553
    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.