2523 ALBANY AVENUE
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Location
2523 ALBANY AVENUE
Mblu
E4/ 0031/ 2523/ /
Parcel ID
0031 1 2523 0001
Owner
BISHOPS CORNER SC LLC
Total Market Value
$21,065,100
Appraisal
$30,093,000
Vision Id #
267
Building Count
2
Current Value
Appraisal
Valuation YearImprovementsLandTotal
2025$25,012,700$5,080,300$30,093,000
Assessment
Valuation YearImprovementsLandTotal
2025$17,508,890$3,556,210$21,065,100

Owner of Record
OwnerBISHOPS CORNER SC LLC
Co-OwnerBISHOPS CORNER SC TIC 1 LLC ET AL
Address151 BODMAN PLACE
SUITE 201
RED BANK, NJ 07701
Sale Price$37,240,000
Book & Page 5281/414
Sale Date12/01/2022
Instrument25

Ownership History
Ownership History
OwnerSale PriceBook & PageInstrumentSale Date
BISHOPS CORNER SC LLC$37,240,0005281/4142512/01/2022
BISHOP'S CORNER (E+A) LLC$24,947,0213948/0030Q06/01/2006
SUMMIT GREEN LLC$11,200,0003575/00560308/06/2004
BISHOPS CORNER WEST LLC$02516/0153U12/21/1999
BISHOPS CORNER ASSOCIATES LTD PARTNERSH$11470/0317U12/22/1989

Building Information
Building 1 : Section 1
Year Built: 1954
Living Area: 132,471
Replacement Cost: $36,243,706
Building Percent Good: 67
Replacement Cost
Less Depreciation:
$24,283,300
Building Attributes
FieldDescription
Style:Multi Use Office
ModelComm/Ind
GradeB 1.20
Stories:3
Occupancy 
Exterior Wall 1Brick
Exterior Wall 2Stucco
Roof StructureFlat
Roof CoverComp - Roll
Interior Wall 1Typical
Interior Wall 2 
Floor TypeConcrete Slab
Floor CoverNone
Heating FuelTypical
Heating TypeComplete HVAC
AC TypeComplete HVAC
As Built Use 
Bldg UseCommercial
Num of Bedrooms 
Total Baths 
Type 
Wet Sprinkler100
Dry Sprinkler 
1st Floor Use: 
ClassClass B
Frame TypeMasonry
PlumbingAVERAGE
CeilingNot Applicable
Group1OFF
Wall Height10.00
Adjustment 
Building Photo Building Photo
Building Layout Building Layout
Building Sub-Areas (sq ft)
CodeDescriptionGross
Area		Living
Area
RSCREGIONAL SHOP CENTER 62,835 62,835
OFHHIGH RISE OFFICE BLDG 55,887 55,887
RSTRESTAURANT 8,513 8,513
BNKBRNCH BNK W DRV IN 5,236 5,236
CBMBSMT COMM - NV 41,492 0
COMCOMMERCIAL - NV 106,427 0
MUSMULTI USE STORAGE 7,020 0
   287,410 132,471
Building 2 : Section 1
Year Built: 1954
Living Area: 130
Replacement Cost: $45,946
Building Percent Good: 57
Replacement Cost
Less Depreciation:
$26,200
Building Attributes : Bldg 2 of 2
FieldDescription
Style:Multi Use Retail
ModelComm/Ind
GradeB 1.00
Stories:3
Occupancy 
Exterior Wall 1Concrete Block
Exterior Wall 2Brick Veneer
Roof StructureFlat
Roof CoverBuilt Up
Interior Wall 1Typical
Interior Wall 2 
Floor TypeWood
Floor CoverTile
Heating FuelTypical
Heating TypeHot Water
AC TypeComplete HVAC
As Built UseMLTR
Bldg UseCommercial
Num of Bedrooms 
Total Baths 
Type 
Wet Sprinkler100
Dry Sprinkler 
1st Floor Use: 
ClassClass B
Frame TypeRigid Steel
PlumbingAVERAGE
CeilingAcoustic Tile
Group1COM
Wall Height12.00
Adjustment 
Building Photo Building Photo
Building Layout Building Layout
Building Sub-Areas (sq ft)
CodeDescriptionGross
Area		Living
Area
BNKBRNCH BNK W DRV IN 130 130
COMCOMMERCIAL - NV 130 0
   260 130

Extra Features
Extra Features

No Data for Extra Features


Land
Land Use
Use Code201
DescriptionCommercial  
ZoneBS
Neighborhood
Alt Land ApprNo
Category
Land Line Valuation
Size (Acres)6.34
Frontage
Depth
Total Market Land$3,556,210
Appraised Value$5,080,300

Outbuildings
Outbuildings
CodeDescriptionSub CodeSub DescriptionSizeValueBldg #
CLP4Paving, Asphalt  150000.00 SF$701,3001
CCP6Canopy-roof & slab  65.00 SF$1,9001
Valuation History
Appraisal
Valuation YearImprovementsLandTotal
2024$25,012,700$5,080,300$30,093,000
2023$25,012,700$5,080,300$30,093,000
2022$25,012,700$5,080,300$30,093,000

Assessment
Valuation YearImprovementsLandTotal
2024$17,508,890$3,556,210$21,065,100
2023$17,508,890$3,556,210$21,065,100
2022$17,508,890$3,556,210$21,065,100

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