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Property profile & analytics
OFF-MARKET
Estimated value
$635,000
Commercial real estate
749 State Rte 15th S Lake Hopatcong, NJ 07849
Entity Owned
17-yr Hold
Free & Clear
Property ID
US59-1645872
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
2002
Construction
CONCRETE BLOCKS
Total area
2,880 SF
Lot
1.06 ac (45,999 SF)
Zoning code
C-2
APN
14 00273- 03-00001- 02
UPID
US59-1645872
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
$485k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$685k
Blend (final)
Blend
$635k
Owner & transaction history
Ocean Petroleum Co INC · 17 yrs held
Ocean Petroleum Co INC
since 2008
2 recorded transactions
Zoning & alternative use
C-2 · Lake Hopatcong, 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 Lake Hopatcong submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lake Hopatcong 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
by Request
ML approach
$485,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$700,000
Current use
OFFICE BUILDING
$605,000
Change: -14% · Conversion: Easy
Blend value · Realmo final
$635k
Range $572k – $699k · ±10%
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
$220 / 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
$39,193
Tax year 2022
Assessed value
$1,375,200
Assessed 2023
Previous assessed
$1,375,200
+0.0% YoY
Effective rate
2.85%
On assessed value
Assessed land
$782,000
Assessed improvement
$593,200
Land market value
$782,000
Improvement market value
$593,200
Total market value
$1,375,200
Applied tax rate
14.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
2002
Construction
CONCRETE BLOCKS
Heating
NONE
Stories
1
Total area
2,880 SF
Lot
1.06 ac (45,999 SF)
Zoning code
C-2
APN
14 00273- 03-00001- 02
UPID
US59-1645872
Jurisdiction
MORRIS
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
C-2 · Lake Hopatcong, NJ
Zoning C-2 · permitted uses
C-2 · Lake Hopatcong, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lake Hopatcong. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$700,000
OFFICE BUILDING
Est. value
$605,000
COMMERCIAL (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
2002
Construction
CONCRETE BLOCKS
Heating
NONE
Stories
1
Lot
1.06 ac
Current owner
From public records · entity-resolved
Ocean Petroleum Co INC
Entity
Free & Clear · 17 yrs held
Mailing address
2900 TELESTAR CT, FALLS CHURCH, VA 22042-1206
Ownership since
2008
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 5, 2009
—
Ocean Petroleum LLC
—
Loan Modification
related
$5,661,750 · Td Bk NA
Sep 16, 2008
$2,200,000
Ocean Petroleum Co INC
Bp Products North America INC
Quit Claim Arm's Length For Ne States
—
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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