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    The Largest CRE Database in the US with Over 1 Million Listings

    110 Mount Tabor Way Ocean Grove, NJ 07756

    Sponsored
    For Sale
    Pending
    $999,000

    MULTI_FAMILY - Ocean Grove, NJ

    Property size:
    2,690 SF
    Days on Market:
    2
    Last Refresh:
    Jan 25 at 9:06 am

    Property Features for 110 Mount Tabor Way

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Pending
    Rooms
    Bedroom 2, Bedroom 6, Bedroom 3, Bathroom 1, Bedroom 5, Basement, Bedroom 7, Bathroom 3, Bathroom 2, Bedroom 4, Bedroom 1, Bathroom 4
    Bedrooms
    7
    Bathrooms
    4
    APN
    35-00152-0000-00003
    Parking features
    On Street
    Exterior features
    Outdoor Grill
    Basement
    Full
    Size
    2,690 SF

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Baseboard
    Cooling system
    Multi Units
    Water source
    Public

    Building Details

    Year built
    1890
    Floors in Building
    3
    Number of units
    3
    Flooring type
    Wood

    We can help!

    Listing Contact
    Michele DeRose

    RE/MAX Gateway (732) 361-0770

    Listing agent Michele DeRose (732) 361-0770

    Listing date Jan 24, 2026

    MLS# 22532798 Listing URL

    Copyright © 2026 Monmouth Ocean Regional Realtors and Monmouth Ocean Regional MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Ocean Grove Legal 3-Family Home

    This legal three-family property, with over 2700 square feet across three levels and a full basement, is located approximately two blocks from the footbridge to Asbury Park and about five blocks from the Ocean Grove Beach and Boardwalk. The property features two first-floor, one-bedroom, one-bath apartments, each with separate entrances and a solid rental history. One of these apartments includes laundry facilities, a small patio space, and an outdoor shower. The upper apartment spans the second and third floors, offering a large living room, five bedrooms, a small vintage kitchen, two bathrooms, laundry facilities, a south-facing sunroom, and an additional den on the third floor. Historic features include original woodwork, hardwood floors, a clawfoot tub, and a vintage kitchen sink, reflecting the building's history as an 1890 former rooming house. Hardwood floors are present throughout. The furnaces and hot water heaters were replaced in 2024, and mini-splits have been installed in some areas. The property has separate gas and electric meters. The property is vacant and easy to show.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Ocean Grove
    County
    Monmouth
    State
    New Jersey
    Longitude
    -74.010517
    Latitude
    40.213683

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    FAQs

    What type of property is this?
    Triplex - Legal 3-family property near beach and Asbury Park.
    Where is this triplex located?
    The property is located at 110 Mount Tabor Way Ocean Grove, NJ.
    What is the asking price?
    The asking price for this property is $999,000.
    What are key features of this property?
    This property features: - Legal 3-family property offering income potential.; - Prime location: enjoy close proximity (2 blocks) to Asbury Park footbridge and approximately 5 blocks to Ocean Grove Beach and Boardwalk.; - Two 1-bedroom/1-bath apartments with separate entrances and rental history; one with laundry, patio, and outdoor shower.
    (732) 361-0770
    Request Owner's contact information
    110 Mount Tabor Way Ocean Grove, NJ 07756
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    Ocean Grove, NJ 07756
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    110 Mount Tabor Way Ocean Grove, NJ 07756
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    We can help!
    Listing Contact
    Michele DeRose
    Real Estate License ID: 784481
    (732) 361-0770
    Learn more
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