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    Legal Ocean Township, NJ 07712

    Sponsored
    For Sale
    $999,000

    7,500 SF Buildable Lot, R-1 Zoning

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 7,500 square foot commercial land parcel presents a unique investment opportunity in the desirable Ocean Township, New Jersey. Located in the northeast quadrant of Asbury Park, this R-1 zoned lot offers significant potential for development. The permitted zoning allows for the construction of a building up to 2.5 stories high, with a maximum height of 30 feet. The maximum building coverage is 30% of the lot size, providing ample space for landscaping and other site improvements. Situated in a prime location, this property benefits from its proximity to Asbury Park's beaches, with only four parks located within the immediate area. The asking price for this remarkable property is $999,000. 2024 property taxes are to be determined. This is an ideal opportunity for developers seeking to capitalize on the thriving commercial real estate market in this sought-after New Jersey location. The property is conveniently located in Monmouth County, with the address listed as Legal Building Lot, Asbury Park, NJ 07712. The precise coordinates are 40.2448804 latitude and -74.0593872 longitude. This presents a rare chance to acquire a substantial commercial lot with significant development potential.

    Property Features for 0 Legal

    General Information

    Property type
    Land

    HighLights

    • R‑1 Zoning.
    • 2024 Property Taxes: To Be Assessed.
    • Northeast Asbury Park Location.
    • Proximity to Asbury Park Beaches and four nearby parks.
    • Allows 2.5‑story building up to 30 feet.
    • 30% maximum building coverage.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Ocean Township
    County
    Monmouth
    State
    New Jersey
    Longitude
    -74.0593872
    Latitude
    40.2448804

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    FAQs

    What type of property is this?
    Land - 7,500 SF Buildable Lot, R-1 Zoning
    Where is this land located?
    The property is located at Legal Ocean Township, NJ.
    What is the asking price?
    The asking price for this property is $999,000.
    What are key features of this property?
    This property features: R-1 Zoning.; 2024 Property Taxes: To Be Assessed.; Northeast Asbury Park Location.
    Request Owner's contact information
    Legal Ocean Township, NJ 07712
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    Ocean Township, NJ 07712
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    Realmo Value Estimation

    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.

    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.

    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
    Legal Ocean Township, NJ 07712
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