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Property profile & analytics
FOR LEASE
Office buildings
99 Wood Ave S Iselin, NJ 08830
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US59-1439908
For Lease
Contact for pricing
99 Wood Ave S, Iselin, NJ 08830
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1987
Total area
261,144 SF
Lot
10.14 ac (441,481 SF)
Zoning code
OR
APN
25 00356-0000-00011- 04
UPID
US59-1439908
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
-
Lenworth Johnson - M&T Bank Loan Service Bank
-
U.S. Retirement Partners Bank Credit Union
-
Echo Therapeutics Inc Corporate Office
-
Public Catalyst Group Consultant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$65.57M
Comparable Approach
Comparable
$71.75M
Blend (final)
Blend
$67.83M
Owner & transaction history
Metropark 99 Properties LLC · 5 yrs held
Metropark 99 Properties LLC
since 2021
Last sale
$67.0M
7 recorded transactions
Zoning & alternative use
OR · Iselin, 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 Iselin submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Iselin 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
$86,170,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$71,030,000
6.5%
$65,565,000
7%
$60,885,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$71,405,000
Current use
APARTMENT HOUSE (5+ UNITS)
$64,345,000
Change: -10% · Conversion: Easy
COMMERCIAL (GENERAL)
$58,545,000
Change: -18% · Conversion: Easy
INDUSTRIAL (GENERAL)
$58,140,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$67.83M
Range $61.05M – $74.61M · ±10% · vs last sale $67.00M (Apr 19 2021)
Last sale anchor
$67.00M
Apr 19 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
$260 / 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
$1,734,688
Tax year 2022
Assessed value
$15,100,000
Assessed 2023
Previous assessed
$15,100,000
+0.0% YoY
Effective rate
11.49%
On assessed value
Assessed land
$2,028,000
Assessed improvement
$13,072,000
Land market value
$2,028,000
Improvement market value
$13,072,000
Total market value
$15,100,000
Applied tax rate
25.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1987
Heating
NONE
Units
1
Total area
261,144 SF
Lot
10.14 ac (441,481 SF)
Zoning code
OR
APN
25 00356-0000-00011- 04
UPID
US59-1439908
Jurisdiction
MIDDLESEX
Metro division
EDISON, NJ METROPOLITAN DIVISION
Zoning & alternative use
OR · Iselin, NJ
Zoning OR · permitted uses
OR · Iselin, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Iselin. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$71.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$64.3M
COMMERCIAL (GENERAL)
Est. value
$58.5M
INDUSTRIAL (GENERAL)
Est. value
$58.1M
OFFICE BUILDING Current
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
INDUSTRIAL (GENERAL)
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
1987
Heating
NONE
Units
1
Lot
10.14 ac
Current owner
From public records · entity-resolved
Metropark 99 Properties LLC
Entity
Mailing address
1140 AVE OF THE AMERICAS, NEW YORK, NY 10036-5803
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 15, 2021
—
99 Wood Ave LLC
—
Deed
related
$39,000,000 · American Heritage FCU
Jun 3, 2021
—
Umb Bank NA
—
Deed
related
$27,850,072 · Investors Bank
Apr 19, 2021
$67,000,000
Metropark 99 Properties LLC
Metro 99 Tic I LLC
Deed
$27,850,072 · Umb Bank NA
Apr 19, 2021
—
Metropark 99 Properties LLC
—
Deed
related
$5,327,840 · Umb Bank NA
Mar 11, 2019
$61,500,000
Metro 99 Tic I LLC
Realty Associates Fund X LP
Grant Deed
—
Oct 16, 2014
$60,300,000
Realty Associates Fund X LP
Metro Corp Campus INC
Grant Deed
related
—
May 27, 2005
$70,440,000
Metro Corporate Campus INC
Realty Associates Fund IV
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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