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    Retail Storefront in Three-Unit Strip Title is generated by Realmo AI

    3209 Sunset Avenue, Asbury Park, NJ 07712

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    For Lease
    $3,200/Mo $22 SF/Yr (calc)

    COMMERCIAL - Ocean Twp, NJ

    Type:Retail
    Property size:
    1,740 SF
    Lot size:
    0.45 Acres
    Added:
    Jun 5, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 6 at 12:06 pm

    Property Features for 3209 Sunset Avenue

    General Information

    Property type
    Commercial Lease
    Property subtype
    Retail
    Rooms
    Basement
    Parking features
    Parking Lot, Open
    Interior features
    Handicapped
    Exterior features
    Display Window, Lighting
    Accessibility
    Accessible Approach with Ramp
    Standard status
    Active
    APN
    37-00218-0000-00003
    Size
    1,740 SF
    Lot size
    0.45 Acres

    Taxes and HOA fees

    Tax Year
    2025

    Utilities

    Sewer type
    Public Sewer
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1951
    Floors in Building
    1
    Flooring type
    Wood
    Building materials
    Block, Concrete
    Roof type
    Flat

    We can help!

    Listing Contact
    Marianne Schell

    Listing agent Marianne Schell

    Listing office Coldwell Banker Realty 864 Highway 35, Spring Lake, NJ

    Listing date Jun 5, 2026

    MLS# 22616904

    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.

    HighLights

    • Storefront in a 3‑unit strip center with primary frontage on Sunset Avenue and secondary access from the parking lot on Fairview Ave
    • High‑visibility location on a well‑traveled local street; east on Sunset Avenue leads directly to the Asbury Park boardwalk and beach
    • ADA features include an accessible approach with ramp and an ADA bathroom
    • Construction includes block and concrete; flat roof; wood flooring; central air cooling
    • Parking lot with plenty of parking plus an open parking setup; loading dock available for deliveries
    • Utilities/expense details: landlord pays CAM; tenant responsible for gas and electric only; public water and public sewer

    Overview

    This retail storefront is located in a three-unit strip center and features an ADA bathroom in place. The space has storefront frontage on Sunset Avenue and also benefits from secondary access through a parking lot off Fairview Avenue, supporting convenient customer entry and ease of deliveries. A loading dock is available for loading and unloading operations.

    The center is positioned on a well-traveled local street with visibility to passersby. East on Sunset Avenue leads directly toward the Asbury Park boardwalk and beach, while the westerly direction brings traffic toward Wegman’s Plaza and Costco. The tenant will be joining Cowboy Restaurant and Float Studio within the same three-unit property.

    Operationally, the lease structure notes that the landlord pays CAM, while the tenant is responsible for gas and electric only. With its combination of high-visibility frontage, dedicated loading support, and on-site parking, the space should be a practical fit for neighborhood-serving retail users that want strong local access and straightforward utilities responsibility.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    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
    Asbury Park
    County
    Monmouth
    State
    New Jersey
    Longitude
    -74.035337
    Latitude
    40.235213

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    FAQs

    What type of property is this?
    Retail space - High-visibility storefront with plenty of parking, ADA bathroom, and a loading dock; landlord covers CAM.
    Where is this retail space located?
    The property is located at 3209 Sunset Avenue Asbury Park, NJ.
    What is the lease rate?
    The lease rate is $3,200 /Mo.
    What are key features of this property?
    This property features: Storefront in a 3‑unit strip center with primary frontage on Sunset Avenue and secondary access from the parking lot on Fairview Ave; High‑visibility location on a well‑traveled local street; east on Sunset Avenue leads directly to the Asbury Park boardwalk and beach; ADA features include an accessible approach with ramp and an ADA bathroom
    (732) 671-1000
    We can help!
    Listing Contact
    Marianne Schell
    Request Owner's contact information
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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.

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