Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Former Bank Building in Ocean Grove Title is generated by Realmo AI

    61 Main Avenue, Ocean Grove, NJ 07756

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Former bank building with existing vault and full-service branch layout.

    Type:Retail
    Property size:
    6,400 SF
    Added:
    Mar 6, 2026
    Days on Market:
    76
    Last Refresh:
    Apr 5 at 11:54 pm

    Property Features for 61 Main Avenue

    General Information

    Standard status
    Active
    Size
    6,400 SF
    Property subtype
    Retail

    Spaces For Lease

    at 61 Main Avenue Contact us

    We can help!

    Listing Contact
    Jude Clark

    Listing agent Jude Clark

    Listing office Sitar Realty Company - Corporate

    Listing date Mar 6, 2026

    Source Sitarcompany

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

    All listing content including descriptions, pricing, images are the copyrighted material of Sitar Realty Company - Corporate

    HighLights

    • Former bank building with existing vault and teller configuration in place.
    • Located on Main Avenue in the center of town, across from Odyssey Coffee, a strong traffic generator.
    • Full basement suitable for storage, administrative use, training, or community meeting space.
    • High‑income, retirement‑driven coastal market with increasing capital migration from North Jersey and New York City.
    • Ground floor features open customer lobby, private offices, kitchenette, restrooms, and large windows with natural light.
    • Immediate availability.

    Overview

    This former bank building offers approximately 6,400 square feet of space, featuring an existing vault, teller configuration, and a full-service branch layout. The property includes a full basement suitable for storage, administrative use, training, or community meeting space. The ground floor, approximately 3,200 square feet, features an open customer lobby with a teller line, private offices, a kitchenette/break room, restrooms, vault access, secure operational areas, and large windows providing natural light. The lower level, also approximately 3,200 square feet, is configured for storage with secure document storage and a basement vault. It is suitable for training, support functions, or community room use and includes a basement fire exit. Located on Main Avenue frontage in the center of town, directly across from Odyssey Coffee, the property benefits from consistent pedestrian visibility and immediate proximity to Asbury Park. Ocean Grove is a high-income, retirement-driven coastal market with a strong year-round residential population and increasing capital migration from North Jersey and New York City. The property is immediately available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Kearny Bank Loan Service

    Suggested Use

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

    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
    -74.0073
    Latitude
    40.2125

    Nearby Similar for Lease

    • $3,200/Mo
      2,392 SF

      Ocean Grove Restaurant Opportunity

      Turnkey restaurant space for lease, three blocks from the beach.
      69 Main Avenue, Ocean Grove, NJ 07756
      View Details
    • Contact for pricing
      2,587 SF

      Retail/Office Space in Ocean Grove

      Commercial space in thriving beach community, near Main Ave and beach.
      54 Olin Street, Ocean Grove, NJ 07756
      View Details
    • Contact for pricing
      700 SF

      Ocean Grove Commercial Space For Rent

      Commercial space in Ocean Grove with high foot traffic.
      49 Main Avenue, Ocean Grove, NJ 07756
      View Details
    • $3,200/Mo
      2,392 SF

      Restaurant Space Near the Beach

      Turnkey restaurant opportunity with high visibility and foot traffic.
      69 Main Avenue, Ocean Grove, NJ 07756
      View Details

    FAQs

    What type of property is this?
    Bank - Former bank building with existing vault and full-service branch layout.
    Where is this bank located?
    The property is located at 61 Main Avenue Ocean Grove, NJ.
    What are key features of this property?
    This property features: Former bank building with existing vault and teller configuration in place.; Located on Main Avenue in the center of town, across from Odyssey Coffee, a strong traffic generator.; Full basement suitable for storage, administrative use, training, or community meeting space.
    (732) 283-9000
    We can help!
    Listing Contact
    Jude Clark
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    61 Main Avenue, Ocean Grove, NJ 07756
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!