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    615 Park Place Avenue Bradley Beach, NJ 07720

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    Claim this Listing
    Pending
    $1,425,000

    COMMERCIAL - Bradley Beach, NJ

    Property size:
    3,962 SF
    Lot size:
    0.22 Acres
    Added:
    Oct 5, 2024
    Days on Market:
    568
    Last Refresh:
    Apr 25 at 7:06 pm

    Property Features for 615 Park Place Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Rooms
    Basement
    Parking
    1520
    Parking features
    Off Street
    Security features
    Security System
    Interior features
    Handicapped
    Exterior features
    Lighting
    Accessibility
    Accessible Approach with Ramp
    Standard status
    Pending
    APN
    08-00020-0000-00001
    Size
    3,962 SF
    Lot size
    0.22 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Annual Amount
    8184

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1982
    Floors in Building
    1
    Flooring type
    Tile
    Building materials
    Block, Brick
    Roof type
    Flat

    We can help!

    Listing Contact
    Mary Bianchi

    Listing agent Mary Bianchi License #1866003

    Listing office Realty One Group Emerge 514 Brick Blvd. Suite 4, Point Pleasant Beach, NJ

    Listing date Oct 5, 2024

    MLS# 22429040

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

    Overview

    Commercial Building in Bradley Beach

    This commercial building, located in Bradley Beach, New Jersey, offers a high-visibility location with ample parking. The property is currently occupied by a multi-year tenant operating a laundromat under a NNN lease. The interior includes separate office and storage areas. Recent upgrades include a new sewer line, newer central air conditioning, and a newer boiler. The property size is 3962 square feet and it sits on a lot of 0.22 acres. Please note that the operating business is not for sale.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bianchis Plumbing & Heating HVAC Service Wash- A- Shore Laundromat (Bike/Boat/Book/etc) Store Bradley Bleach Laundromat (Bike/Boat/Book/etc) Store Wash-a-Shore Laundromat Bradley ... (Bike/Boat/Book/etc) Store

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Bradley Beach
    County
    Monmouth
    State
    New Jersey
    Longitude
    -74.016527
    Latitude
    40.206242

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    FAQs

    What type of property is this?
    Retail space - Well-maintained commercial building with a multi-year tenant and NNN lease.
    Where is this retail space located?
    The property is located at 615 Park Place Avenue Bradley Beach, NJ.
    What is the asking price?
    The asking price for this property is $1,425,000.
    What are key features of this property?
    This property features: High visibility location with ample off‑street parking.; Tenant in place with NNN lease.; New sewer line.
    (732) 477-0200
    We can help!
    Listing Contact
    Mary Bianchi
    Real Estate License ID: 1866003
    Learn More
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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
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