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Property profile & analytics
OFF-MARKET
Estimated value
$8,435,000
Industrial properties
745 Airport Rd Lakewood, NJ 08701-5908
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US59-0222315
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1970
Construction
TYPE NOT SPECIFIED
Total area
50,000 SF
Lot
3 ac (130,680 SF)
Zoning code
M1
APN
15 01160- 01-00232
UPID
US59-0222315
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
-
Meda Pharmaceuticals Inc Factory Production Facility
-
VIVUS Inc. Factory Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$8.86M
CAP Approach
CAP
$8.64M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$8.44M
Owner & transaction history
Airport 745 LLC · 6 yrs held
Airport 745 LLC
since 2020
Last sale
$6.3M
5 recorded transactions
Zoning & alternative use
M1 · Lakewood, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$11.9M
+30.5%
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 Lakewood submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lakewood 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
$8,730,000
ML approach
$8,855,000
CAP Approach
CAP Return
Estimation
6%
$9,355,000
6.5%
$8,635,000
7%
$8,015,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$9,105,000
Current use
OFFICE BUILDING
$11,885,000
Change: +31% · Conversion: Difficult
Blend value · Realmo final
$8.44M
Range $7.59M – $9.28M · ±10% · vs last sale $6.25M (Jun 17 2020)
Last sale anchor
$6.25M
Jun 17 2020
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
$169 / 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
$130,462
Tax year 2022
Assessed value
$5,717,000
Assessed 2023
Previous assessed
$5,717,000
+0.0% YoY
Effective rate
2.28%
On assessed value
Assessed land
$585,000
Assessed improvement
$5,132,000
Land market value
$585,000
Improvement market value
$5,132,000
Total market value
$5,717,000
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
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Units
1
Total area
50,000 SF
Lot
3 ac (130,680 SF)
Zoning code
M1
APN
15 01160- 01-00232
UPID
US59-0222315
Jurisdiction
OCEAN
Metro division
EDISON, NJ METROPOLITAN DIVISION
Zoning & alternative use
M1 · Lakewood, NJZoning M1 · permitted uses
M1 · Lakewood, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$9.1M
OFFICE BUILDING
Est. value
$11.9M
INDUSTRIAL (GENERAL) Current
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
1970
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Units
1
Lot
3 ac
Current owner
From public records · entity-resolved
Airport 745 LLC
Entity
Mailing address
PO BOX 17, LAKEWOOD, NJ 08701-0017
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 17, 2020
$6,250,000
Airport 745 LLC
Renaissance Lakewood LLC
Deed
$8,587,500 · 1st Constitution Bank
Sep 22, 2014
$4,338,000
Dpt Lakewood LLC
Meda Pharmaceuticals INC
Grant Deed
$122,276,860 · General Elec Cap
Nov 9, 2010
$7,000,000
Meda Pharmaceuticals INC
Vivus Real Estate LLC
Grant Deed
—
Jan 3, 2006
$3,944,445
Vivus Real Estate LLC
745 Airport Road LLC
Grant Deed
—
Aug 9, 2002
—
745 Airport Road LLC
Airport Associates
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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