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Property profile & analytics
OFF-MARKET
Estimated value
$1,085,000
Residential income homes
1202 Central Ave Ship Bottom, NJ 08008-4556
Entity Owned
19-yr Hold
~
Est. High Equity
Property ID
US59-3120476
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1968
Construction
FRAME
Total area
6,600 SF
Lot
0.26 ac (11,200 SF)
Zoning code
OR
APN
29 00085-0000-00005- 01
UPID
US59-3120476
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.09M
Owner & transaction history
Islander Motel LLC · 19 yrs held
Islander Motel LLC
since 2007
2 recorded transactions
Zoning & alternative use
OR · Ship Bottom, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
OR Office Residential District Ch 16.40 MFR Multiple-Family Residential District Ch 16.44 SC Shore Commercial District Ch 16.48 GC General Commercial District Ch 16.52 General Provisions and Design Standards Ch 16.53 Wireless Communications Facilities Ch 16.56 Conditional Uses Ch 16.60 General Exceptions and Modifications Ch 16.64 Townhouses, Apartments, Hom…
Zone name
Office Residential
General category
COMMERCIAL
Zone area
38.72 ac
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Ship Bottom submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ship Bottom submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,570,000
Change: -16% · Conversion: Moderate
Blend value · Realmo final
$1.09M
Range $977k – $1.19M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$164 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$11,443
Tax year 2022
Assessed value
$1,080,500
Assessed 2023
Previous assessed
$1,080,500
+0.0% YoY
Effective rate
1.06%
On assessed value
Assessed land
$565,800
Assessed improvement
$514,700
Land market value
$565,800
Improvement market value
$514,700
Total market value
$1,080,500
Applied tax rate
29.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Status
Off-Market
Year built
1968
Construction
FRAME
Heating
BASEBOARD
Stories
2
Units
1
Bathrooms
6
Total area
6,600 SF
Lot
0.26 ac (11,200 SF)
Zoning code
OR
APN
29 00085-0000-00005- 01
UPID
US59-3120476
Jurisdiction
OCEAN
Metro division
EDISON, NJ METROPOLITAN DIVISION
Zoning & alternative use
OR · Ship Bottom, NJZoning OR · permitted uses
OR · Ship Bottom, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
OR Office Residential District Ch 16.40 MFR Multiple-Family Residential District Ch 16.44 SC Shore Commercial District Ch 16.48 GC General Commercial District Ch 16.52 General Provisions and Design Standards Ch 16.53 Wireless Communications Facilities Ch 16.56 Conditional Uses Ch 16.60 General Exceptions and Modifications Ch 16.64 Townhouses, Apartments, Homeowners' Associations Ch 16.68 Flood Hazard Prevention Ch 16.73 Cannabis Ch 16.76 Land Use Review Board Ch 16.80 Subdivisions and Site Plans Ch 16.84 Fees, Guarantees, Inspections and Off-Tract Improvements Ch 16.88 Administration and Enforcement Ch 16.92 Stormwater Control Ch 16.93 Outdoor Dining Prior Code Cross-Reference Table Disposition List arrow_back print Print email Email download Download share Share add_alert Get Updates arrow_forward Title 16: Land Development Code gavel help_center New Laws Title Adopted Subject Affects Ord. No. 2026-07 pdf 2026-05-26 GC General Commercial District Amendment Ch 16.48
Zone name
Office Residential
General category
COMMERCIAL
Zone area
38.72 ac
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$1.6M
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1968
Construction
FRAME
Heating
BASEBOARD
Stories
2
Units
1
Bathrooms
6
Lot
0.26 ac
Current owner
From public records · entity-resolved
Islander Motel LLC
Entity
Mailing address
1202 CENTRAL AVE, SHIP BOTTOM, NJ 08008-4556
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 24, 2007
$1,300,000
Islander Motel LLC
Quicksall,robert P & Brenda
Grant Deed
$910,000 · Kearny Fsb
Sep 18, 2000
$540,000
Robert P Quicksall
Toledo,richard & Donna
Grant Deed
$240,000 · Richard & Donna
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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