Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    23 Ocean Ave Point Pleasant Beach, NJ 08742

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,750,000

    Desirable Point Pleasant Beach lot near waterfront attractions.

    Lot size:
    0.26 Acres

    Property Features for 23 Ocean Ave

    General Information

    Standard status
    Active
    Lot size
    0.26 Acres

    We can help!

    Listing Contact
    Troy Skodmin
    Source: Corcoran

    Listing Agency: RE/MAX REALTY 9 Listing Agent: Troy Skodmin

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Ocean Avenue Lot For Sale

    This is a rare opportunity to own a never-before-offered lot on Ocean Avenue in Point Pleasant Beach. The property is within walking distance of local waterfront restaurants, charter fishing boats, the inlet, the ocean, the beach, and the boardwalk. The lot is currently zoned Marine Commercial and is situated between residential homes. This 0.25-acre lot offers many possibilities.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Point Pleasant Beach
    County
    Ocean
    State
    New Jersey
    Longitude
    -74.0361402
    Latitude
    40.101085

    Nearby Similar for Sale

    • $1,599,900
      3,229 SF

      Multi-Use Building in Point Pleasant

      Multi-use building in vibrant downtown Point Pleasant Beach.
      517-521 Bay Ave, Point Pleasant Beach, NJ 08742
      View Details
    • $665,000
      0.17 Acres

      Point Pleasant Commercial Building

      Mint condition building suitable for various business uses.
      838 Beaver Dam Rd, Point Pleasant Beach, NJ 08742
      View Details
    • $680,000
      2,900 SF

      Commercial Building on Route 88

      Commercial building on Route 88 with excellent visibility.
      3156 Route 88, Point Pleasant Beach, NJ 08742
      View Details
    • $80,000
      0.13 Acres

      Pizzeria on Ocean Avenue

      Turn-key pizzeria for sale in Point Pleasant Beach, NJ.
      136 Ocean Ave, Point Pleasant Beach, NJ 08742
      View Details
    • $1,200,000
      3,378 SF

      Point Pleasant Beach Commercial Opportunity

      Commercial property in downtown Point Pleasant Beach, zoned for general commercial.
      401 Richmond Ave, Point Pleasant Beach, NJ 08742
      View Details
    • $3,500,000
      Pending

      Point Pleasant Beach Motel Opportunity

      29-room motel near beach, ideal for redevelopment or investment.
      210 Arnold Ave, Point Pleasant Beach, NJ 08742
      View Details
    • $1,499,900
      2,380 SF

      Mixed-Use Building in Point Pleasant

      Multi-use building with retail space and apartments in downtown.
      523-525 Bay Ave, Point Pleasant Beach, NJ 08742
      View Details
    • New
      $1,899,000
      2,953 SF

      Point Pleasant Beach Multifamily Compound

      Four-unit multifamily property near the beach in Point Pleasant Beach.
      140 Ocean Ave, Point Pleasant Beach, NJ 08742
      View Details
    • New
      $10,500,000
      Pending

      Oceanfront Motel Prime Coastal Property

      Oceanfront motel with 44 rooms, apartment, and a spacious home.
      1008 Ocean Ave, Point Pleasant Beach, NJ 08742
      View Details
    • $2,000,000
      10,188 SF

      Freestanding Retail Building For Sale

      Retail building on high-volume corridor, gateway to Point Pleasant Beach.
      300 Richmond Ave, Point Pleasant Beach, NJ 08742
      View Details
    • $80,000

      Pizzeria Opportunity on Ocean Avenue

      State-of-the-art pizzeria for sale on Ocean Avenue.
      136 Ocean Ave, Point Pleasant Beach, NJ 08742
      View Details
    • $574,900
      484 SF

      Prime Mixed-Use Location Near Boardwalk

      Mixed-use property steps from the shoreline and boardwalk.
      216 Ocean Ave, Point Pleasant Beach, NJ 08742
      View Details

    FAQs

    What type of property is this?
    Commercial land - Desirable Point Pleasant Beach lot near waterfront attractions.
    Where is this commercial land located?
    The property is located at 23 Ocean Ave Point Pleasant Beach, NJ.
    What is the asking price?
    The asking price for this property is $1,750,000.
    What are key features of this property?
    This property features: - Ocean Ave Lot in desirable Point Pleasant Beach location.; - Walking distance to waterfront restaurants, charter fishing boats, inlet, ocean, beach, and boardwalk.; - Rare opportunity - never before offered.
    (732) 364-0300
    Request Owner's contact information
    23 Ocean Ave Point Pleasant Beach, NJ 08742
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    23 Ocean Ave
    Point Pleasant Beach, NJ 08742
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    23 Ocean Ave Point Pleasant Beach, NJ 08742
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Troy Skodmin
    Real Estate License ID: 449673
    (732) 364-0300 (908) 216-2100 (732) 462-0030
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!