Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1183 Main St Asbury Park, NJ 07712

    • Commercial real estate
    • 8,832 SF
    • 0.16 lot acres
    OFF-MARKET
    Last Sale
    Apr 07, 2021
    $2,030,000
    Value Estimations
    $2,205,000
    Show details
    Cap Rate Potential
    5%
    Commercial real estate
    Location Intelligence
    Property ID
    US59-1373181
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 1183 Main St

    Year built
    2020
    Lot size
    0.16 lot acres
    Property size
    8,832 SF
    Zone code
    MSCS
    Property type
    Commercial real estate
    APN
    04 02804-0000-00002
    APU
    402804000000002

    Description

    Exceptional investment opportunity in Asbury Park, NJ. This newly constructed (2023), two-story, 8,832 square foot storefront building offers 100% occupancy with four tenants. The property boasts a strong net operating income (NOI) of $140,699, and a pro-forma NOI of $198,350, resulting in a compelling 4.69% capitalization rate. Situated on a 6,861 square foot lot at 1183 Main St, the building is zoned C-0 and includes 10 parking spaces. The fee-simple ownership provides complete control and potential for future appreciation. Located just blocks from Asbury Park's vibrant nightlife and the iconic boardwalk, this property benefits from high foot traffic and a desirable coastal location. This multi-tenant building presents a rare chance to acquire a thriving commercial property in a dynamic New Jersey market. The property features a total of 8,832 square feet of net rentable space. The address is 1183 Main St, Asbury Park, NJ 07712, with APN 04-02804-0000-00002.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,370,000
      ML approach
      $2,400,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,985,000
      6.5%
      $1,835,000
      7%
      $1,705,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,568,000
      Market price range: $1.34M - $3.27M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $2,250,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $2,335,000
      Change: +4% Conversion: Moderate
      OFFICE BUILDING
      $2,175,000
      Change: -3% Conversion: Easy
      INDUSTRIAL (GENERAL)
      $1,820,000
      Change: -19% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Asbury Park
    County
    Monmouth
    State
    New Jersey
    Longitude
    -74.0108
    Latitude
    40.2244
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $32,295
    $368,700
    $1,410,000
    $1,778,700
    -
    $368,700
    $1,410,000
    $1,778,700

    Comparable in this City

    • Value Estimation by Request

      Legal

      Land
      0 Legal, Ocean Township, NJ 07712
      View Details
    • Value Estimation by Request
      0.11 Acres

      703 Asbury Ave

      COMMERCIAL (GENERAL) • 0.11 Acres
      703 Asbury Ave, Ocean, NJ 07712-6511
      View Details
    • Value Estimation by Request
      0.17 Acres

      Asbury Ave

      COMMERCIAL (GENERAL) • 0.17 Acres
      Asbury Ave, Asbury Park, NJ 07712
      View Details
    • Value Estimation by Request
      0.00 Acres

      901 Main St

      COMMERCIAL (GENERAL) • 0.00 Acres
      901 Main St, Asbury Park, NJ 07712-5911
      View Details
    • Value Estimation by Request
      0.23 Acres

      1501 Main St

      COMMERCIAL (GENERAL) • 0.23 Acres
      1501 Main St, Asbury Park, NJ 07712-5319
      View Details
    • Value Estimation by Request
      0.34 Acres

      909 Ocean Ave

      COMMERCIAL (GENERAL) • 0.34 Acres
      909 Ocean Ave, Asbury Park, NJ 07712
      View Details

    Similar Nearby for Sale

    • $999,000

      Ocean Township Commercial Land Plot

      7,500 SF Buildable Lot, R-1 Zoning
      0 Legal, Ocean Township, NJ 07712
      View Details
    • Contact for pricing
      4,216 SF

      Prime Oakhurst Commercial Space

      Spacious 4,216 sq ft commercial building
      1025 State Route 35, Oakhurst, NJ 07712
      View Details
    • $95,000
      0.06 Acres

      Land in Northern Asbury Park

      Level land parcel in desirable Northern Asbury Park neighborhood.
      1407 Mattison Ave, Asbury Park, NJ 07712
      View Details
    • $799,000

      Charming Home in 55+ Community

      Remodeled home in a sought-after 55+ adult community.
      4 Magnolia Ct, Asbury Park, NJ 07712
      View Details
    • $225,000

      Established Pizzeria For Sale

      Well-established pizzeria with loyal customer base, equipment included.
      Wickapecko Dr, Asbury Park, NJ 07712
      View Details
    • $5,000,000
      39,600 SF

      Asbury Park Microunit Development Site

      Approved 48-unit microunit apartment development with historic theater.
      710 Mattison Ave, Asbury Park, NJ 07712
      View Details

    Similar Nearby for Lease

    • $1,200 /Mo

      Office Space in Ocean Twp

      Office space available for rent in Ocean Township, New Jersey.
      3215 Fairmont Ave, Asbury Park, NJ 07712
      View Details
    • Contact for pricing

      Cookman Avenue Retail/Office Space

      Retail and office spaces available in downtown Asbury Park.
      658 Cookman Ave, Asbury Park, NJ 07712
      View Details
    • Contact for pricing
      2,700 SF

      Retail Space on Route 35

      Retail space with high visibility on Route 35.
      1560 State Route 35, Ocean, NJ 07712
      View Details
    • $22 SF/Yr

      Renovated Office Space Available

      Renovated office space in Ocean Township, Monmouth County.
      3321 Doris Ave, Wanamassa, NJ 07712
      View Details
    • $4,000 /Mo
      3,074 SF

      Heated Warehouse Space in Asbury

      Heated warehouse/storage space available with loading dock access.
      910 1St Ave, Asbury Park, NJ 07712
      View Details
    • $2,050 /Mo

      Queen Anne Victorian Apartment

      One-bedroom apartment in a Queen Anne Victorian home.
      401 2Nd Ave, Asbury Park, NJ 07712
      View Details
    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.
    1183 Main St
    Asbury Park, NJ 07712
    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

    Google sign-in failed. Please try again or use another login method.