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    Property profile

    1501 Asbury Ave Asbury Park, NJ 07712

    FOR LEASE
    Other commercial real estate
    Property ID
    US59-2590846
    0.1 ac lot Built 1952
    Individually Owned 14-yr Hold Absentee Owner Free & Clear
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    1501 Asbury Ave, Asbury Park, NJ 07712 For Lease
    $10,000/Mo
    1501 Asbury Ave, Asbury Park, NJ 07712
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    Property summary

    AI-generated overview

    The property consists of three commercial units with on-site parking for approximately 30 vehicles, located along a heavily traveled road. One unit was configured and previously operated as an auto body and repair facility with a valid body shop license and multiple used car licenses, including two vehicle lifts, a paint booth, a frame machine, and assorted tools and equipment. The remaining two units were used for auto-related and dealership support uses: one as an auto repair shop featuring two bays, one lift, and gated parking, and another as a large office space used by a used car dealer. The building and site are arranged to support auto-related businesses.

    Property profile

    Verified
    Property type Other commercial real estate
    Use group COMMERCIAL (GENERAL)
    Year built 1952
    Construction CONCRETE BLOCKS
    Lot 0.1 ac (4,426 SF)
    Zoning code R1
    APN 04 01902-0000-00011
    UPID US59-2590846

    Cap rate & NOI

    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors

    Location

    1501 Asbury Ave Asbury Park, NJ 07712
    Asbury Park metro Census 807100 NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
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    Value estimations

    Realmo proprietary · 4 methods
    AI Approach AI
    $270k
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    by Request
    Blend (final) Blend
    $270k

    Owner & transaction history

    since 2012
    4 recorded transactions
    2014
    Price N/A
    2012
    Price N/A
    2006
    Price N/A
    1969
    Price N/A

    Zoning & alternative use

    R1 · Asbury Park, NJ
    Zoning description

    (R1) - Single Family Residential Zone. [2000 Code § 30-70.3; amended 6-9-2021 by Ord. No. 2021-21 ; 3-27-2024 by Ord. No. 2024-6 ] a. Permitted Principal Uses. 1. Detached single family. 2. Essential municipal services f…

    General category RESIDENTIAL

    Comparables

    6 recent transactions · within 1.5 mi
    Comparable in this city
    6 recent transactions

    Comparable in this City

    • Value Estimation
      $360,000
      2,291 SF
      1301 Asbury Ave
      COMMERCIAL (GENERAL)
      1301 Asbury Ave, Asbury Park, NJ 07712-5730
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    • Value Estimation
      $750,000
      4,620 SF
      647 Cookman Ave, Unit 653
      COMMERCIAL (GENERAL)
      647 Cookman Ave, Asbury Park, NJ 07712-7103
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    • Value Estimation
      $760,000
      4,800 SF
      3320 Doris Ave
      COMMERCIAL (GENERAL)
      3320 Doris Ave, Ocean, NJ 07712-4064
      View Details
    • Value Estimation
      $955,000
      6,304 SF
      701 Grand Ave
      COMMERCIAL (GENERAL)
      701 Grand Ave, Asbury Park, NJ 07712-6628
      View Details
    • Value Estimation
      $825,000
      5,574 SF
      808 Main St
      COMMERCIAL (GENERAL)
      808 Main St, Asbury Park, NJ 07712-5910
      View Details
    • Value Estimation
      $260,000
      0.39 Acres
      820 Ocean Ave
      COMMERCIAL (GENERAL)
      820 Ocean Ave, Asbury Park, NJ 07712
      View Details

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    • New
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    Recent comparable sales
    Sale price & price/SF · Sale date & distance · Adjustments & confidence
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