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

    73 Tiller Dr Waretown, NJ 08758-1952

    • Commercial real estate
    • 2,240 SF
    OFF-MARKET
    Last Sale
    Feb 24, 2021
    $375,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US59-1850930
    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

    • Margarita Yacht Sales / Boat Repair Shop / Boat Dealer

    Property Details for 73 Tiller Dr

    Year built
    1971
    Construction
    CONCRETE BLOCKS
    Property size
    2,240 SF
    Zone code
    R-1A
    Property type
    Commercial real estate
    APN
    21 00106-0000-00001- 01
    APU
    210010600000000101

    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
    Waretown
    County
    Ocean
    State
    New Jersey
    Longitude
    -74.1826
    Latitude
    39.8007
    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
    $7,280
    $200,000
    $135,000
    $335,000
    -
    $200,000
    $135,000
    $335,000

    Comparable in this City

    • Value Estimation by Request
      0.18 Acres

      Rte 9th 9

      COMMERCIAL (GENERAL) • 0.18 Acres
      Rte 9th 9, Waretown, NJ 08758
      View Details
    • Value Estimation by Request
      0.32 Acres

      53 Atlantic Ave

      COMMERCIAL (GENERAL) • 0.32 Acres
      53 Atlantic Ave, Waretown, NJ 08758-2402
      View Details
    • Value Estimation by Request
      0.11 Acres

      108 Illinois Ave

      COMMERCIAL (GENERAL) • 0.11 Acres
      108 Illinois Ave, Waretown, NJ 08758
      View Details
    • Value Estimation by Request
      448 SF

      397 Rte 9th 9

      COMMERCIAL (GENERAL) • 448 SF
      397 Rte 9th 9, Waretown, NJ 08758-1704
      View Details
    • Value Estimation by Request
      0.11 Acres

      102 Illinois Ave

      COMMERCIAL (GENERAL) • 0.11 Acres
      102 Illinois Ave, Waretown, NJ 08758
      View Details
    • Value Estimation
      $555,000
      4,181 SF

      580 Rte 9th 9

      COMMERCIAL (GENERAL) • 4,181 SF
      580 Rte 9th 9, Waretown, NJ 08758-1720
      View Details

    Similar Nearby for Sale

    • $555,000
      2,000 SF

      Route 9 Automotive Shop

      2000 sq ft automotive shop on 0.95 acres.
      307 Route 9, Waretown, NJ 08758
      View Details
    • $499,900
      0.60 Acres

      Waterfront Lot in Coastal Waretown

      Waterfront lot in Waretown, offering water views and endless potential.
      3 Dock Ave, Waretown, NJ 08758
      View Details
    • $450,000
      2,304 SF

      Charming Multifamily Home with Assumable Loan

      Versatile multifamily property with assumable loan in Waretown, NJ.
      70 Main St, Waretown, NJ 08758
      View Details
    • $575,000
      2,300 SF

      Waretown Mixed-Use Investment Opportunity

      Busy location, barber shop, 2 apartments.
      463 Rte 9 Hwy, Waretown, NJ 08758
      View Details
    • $99,900

      Waretown Land Near Holiday Harbor

      Private lot near marina, ideal for coastal living.
      37 Keelson Dr, Waretown, NJ 08758
      View Details
    • $199,000
      0.16 Acres

      Waterfront Land with Development Potential

      Waterfront lot zoned for multiple uses in Waretown, New Jersey.
      92 Marine Rd, Waretown, NJ 08758
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      25,525 SF

      Tradewinds at Waretown Retail Space

      Ocean Township retail center, 10 spaces available.
      500 Rte 9, Ocean Township, NJ 08758
      View Details
    • $1,650 /Mo
      665 SF

      Renovated Office Space with Parking

      Newly renovated office space with parking near Garden State Parkway.
      121 Wells Mill Rd, Waretown, NJ 08758
      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.
    73 Tiller Dr
    Waretown, NJ 08758-1952
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.