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Property profile & analytics
OFF-MARKET
Estimated value
$680,000
Commercial real estate
78 Forman St, Fair Haven, NJ 07704-3242
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US59-3077763
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1955
Construction
CONCRETE BLOCKS
Total area
2,518 SF
Lot
0.16 ac (6,760 SF)
Zoning code
5694
APN
14 00035-0000-00003
UPID
US59-3077763
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
$685k
CAP Approach
CAP
$525k
Comparable Approach
Comparable
$646k
Blend (final)
Blend
$680k
Owner & transaction history
Forman Street LLC · 3 yrs held
Forman Street LLC
since 2022
Last sale
$675,000
2 recorded transactions
Zoning & alternative use
5694 · Fair Haven, 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 Fair Haven submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fair Haven 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
$710,000
ML approach
$685,000
CAP Approach
CAP Return
Estimation
6%
$565,000
6.5%
$525,000
7%
$485,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$740,000
Current use
OFFICE BUILDING
$620,000
Change: -16% · Conversion: Easy
Blend value · Realmo final
$680k
Range $612k – $748k · ±10% · vs last sale $675k (Dec 9 2022)
Last sale anchor
$675k
Dec 9 2022
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
$270 / 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
$9,211
Tax year 2022
Assessed value
$607,200
Assessed 2023
Previous assessed
$607,200
+0.0% YoY
Effective rate
1.52%
On assessed value
Assessed land
$401,700
Assessed improvement
$205,500
Land market value
$401,700
Improvement market value
$205,500
Total market value
$607,200
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
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
1955
Construction
CONCRETE BLOCKS
Heating
NONE
Buildings
1
Stories
1
Total area
2,518 SF
Lot
0.16 ac (6,760 SF)
Zoning code
5694
APN
14 00035-0000-00003
UPID
US59-3077763
Jurisdiction
MONMOUTH
Metro division
EDISON, NJ METROPOLITAN DIVISION
Zoning & alternative use
5694 · Fair Haven, NJ
Zoning 5694 · permitted uses
5694 · Fair Haven, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Fair Haven. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$740,000
OFFICE BUILDING
Est. value
$620,000
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
1955
Construction
CONCRETE BLOCKS
Heating
NONE
Stories
1
Buildings
1
Lot
0.16 ac
Current owner
From public records · entity-resolved
Forman Street LLC
Entity
Mailing address
42 FROST CIR, MIDDLETOWN, NJ 07748-2342
Ownership since
2022
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
Dec 9, 2022
$675,000
Forman Street LLC
78 Forman Street LLC
Deed
$540,000 · Oceanfirst Bank
Dec 15, 2009
$447,000
78 Forman Street LLC
Havens,william B & Leslie
Grant Deed
—
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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