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Property profile & analytics
OFF-MARKET
Estimated value
$1,335,000
Commercial real estate
741-757 Hwy 35 Middletown, NJ 07748
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US59-1844219
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1953
Construction
CONCRETE BLOCKS
Total area
5,460 SF
Lot
0.6 ac (26,100 SF)
Zoning code
PD
APN
32 00825-0000-00070
UPID
US59-1844219
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.43M
CAP Approach
CAP
$1.14M
Comparable Approach
Comparable
$1.38M
Blend (final)
Blend
$1.34M
Owner & transaction history
Grillo Holdings LLC · 5 yrs held
Grillo Holdings LLC
since 2021
Last sale
$1.3M
1 recorded transaction
Zoning & alternative use
PD · Middletown, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Middletown submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Middletown 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
$1,500,000
ML approach
$1,425,000
CAP Approach
CAP Return
Estimation
6%
$1,230,000
6.5%
$1,135,000
7%
$1,055,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,560,000
Current use
APARTMENT HOUSE (5+ UNITS)
$1,445,000
Change: -7% · Conversion: Moderate
OFFICE BUILDING
$1,345,000
Change: -14% · Conversion: Easy
Blend value · Realmo final
$1.34M
Range $1.20M – $1.47M · ±10% · vs last sale $1.29M (May 13 2021)
Last sale anchor
$1.29M
May 13 2021
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
$245 / 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
$20,881
Tax year 2022
Assessed value
$1,131,400
Assessed 2023
Previous assessed
$1,131,400
+0.0% YoY
Effective rate
1.85%
On assessed value
Assessed land
$798,700
Assessed improvement
$332,700
Land market value
$798,700
Improvement market value
$332,700
Total market value
$1,131,400
Applied tax rate
32.0000
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
1953
Construction
CONCRETE BLOCKS
Heating
NONE
Buildings
1
Stories
1
Units
1
Total area
5,460 SF
Lot
0.6 ac (26,100 SF)
Zoning code
PD
APN
32 00825-0000-00070
UPID
US59-1844219
Jurisdiction
MONMOUTH
Metro division
EDISON, NJ METROPOLITAN DIVISION
Zoning & alternative use
PD · Middletown, NJ
Zoning PD · permitted uses
PD · Middletown, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Middletown. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$1.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.4M
OFFICE BUILDING
Est. value
$1.3M
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
1953
Construction
CONCRETE BLOCKS
Heating
NONE
Stories
1
Buildings
1
Units
1
Lot
0.6 ac
Current owner
From public records · entity-resolved
Grillo Holdings LLC
Entity
Mailing address
148 RUMSON RD, RUMSON, NJ 07760-1029
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 13, 2021
$1,287,000
Grillo Holdings LLC
S G M Corp
Deed
$400,000 · Vast Bank NA
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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