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

    68 Mount Tabor Way Ocean Grove, NJ 07756

    Sponsored
    For Sale
    $1,289,000

    MULTI_FAMILY - Ocean Grove, NJ

    Property size:
    1,659 SF
    Lot size:
    0.04 Acres
    Days on Market:
    54
    Last Refresh:
    Jan 30 at 2:06 am

    Property Features for 68 Mount Tabor Way

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Bathroom 2, Bedroom 3, Bedroom 2, Basement, Bedroom 6, Bedroom 4, Bedroom 1, Bedroom 5, Bathroom 1, Bathroom 3, Bathroom 4
    Bedrooms
    6
    Bathrooms
    4
    APN
    35-00149-0000-00006
    Basement
    Walk-Out Access, Full
    Size
    1,659 SF
    Lot size
    0.04 Acres

    Utilities

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

    Building Details

    Year built
    1885
    Floors in Building
    2
    Number of units
    3

    We can help!

    Listing Contact
    Christopher Kavan

    C21/ Coastal Realtors (732) 774-7166

    Listing agent Christopher Kavan (732) 774-7166

    Listing date Dec 8, 2025

    MLS# 22536357

    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 Multifamily Investment Property

    Located in the Camp Meeting vacation destination of Ocean Grove, New Jersey, this property is a legal three-family home. The property includes two bonus apartments to assist with finances. The upstairs unit spans two floors and features 5 bedrooms and 2 bathrooms, along with a washer and dryer. The first floor contains a 1-bedroom apartment and a studio, each with private entrances. The property offers outdoor amenities including a rocking chair porch and a backyard with an outdoor shower. The property is located close to the town center, Asbury Park, ice cream shops, and the Atlantic Ocean. The lot size is 0.04 acres and the property size is 1659 square feet. This property could be used for annual rentals to cover roughly half of the cost of ownership.
    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 Skin Care Clinic

    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
    -74.007773
    Latitude
    40.2131

    Nearby Similar for Sale

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    FAQs

    What type of property is this?
    Triplex - Three-family property with two bonus apartments near the beach.
    Where is this triplex located?
    The property is located at 68 Mount Tabor Way Ocean Grove, NJ.
    What is the asking price?
    The asking price for this property is $1,289,000.
    What are key features of this property?
    This property features: - Legal three-family home with income potential from two bonus apartments.; - Spacious upstairs unit with **5 bedrooms, 2 baths, and washer/dryer.**; - **Prime location in Ocean Grove, close to the beach, town center, and amenities.**
    (732) 774-7166
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    68 Mount Tabor Way 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
    68 Mount Tabor Way Ocean Grove, NJ 07756
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    We can help!
    Listing Contact
    Christopher Kavan
    Real Estate License ID: 1756600
    (732) 774-7166
    Learn more
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