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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    131 Washington Ave Egg Harbor City, NJ 08215

    • Residential income homes
    • 6,336 SF
    • 1.10 lot acres
    OFF-MARKET
    Last Sale
    Sep 07, 2022
    Value Estimations
    $445,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US59-1339103
    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

    • Residential income homes

    Property Details for 131 Washington Ave

    Year built
    1971
    Construction
    FRAME
    Lot size
    1.10 lot acres
    Property size
    6,336 SF
    Zone code
    R-6
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    07 00102-0000-00001
    APU
    700102000000001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $445,000

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $650,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Egg Harbor City
    County
    Atlantic
    State
    New Jersey
    Longitude
    -74.6522
    Latitude
    39.5302
    CBSA code
    12100
    CBSA name
    ATLANTIC CITY, NJ 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
    $36,295
    $227,500
    $438,100
    $665,600
    -
    $227,500
    $438,100
    $665,600

    Comparable in this City

    • Value Estimation
      $365,000
      5,294 SF

      616 White Horse Pike

      APARTMENT HOUSE (UNDER 5 UNITS) • 5,294 SF
      616 White Horse Pike, Egg Harbor City, NJ 08215-1940
      View Details
    • Value Estimation
      $255,000
      2,880 SF

      155-159 Buffalo Ave, Unit 159

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,880 SF
      155-159 Buffalo Ave, Egg Harbor City, NJ 08215-1921
      View Details
    • Value Estimation
      $740,000
      35.65 Acres

      Bally Bunion Dr

      APARTMENT HOUSE (UNDER 5 UNITS) • 35.65 Acres
      Bally Bunion Dr, Egg Harbor City, NJ 08215
      View Details
    • Value Estimation
      $540,000
      9,500 SF

      541 Philadelphia Ave, Unit 555

      APARTMENT HOUSE (UNDER 5 UNITS) • 9,500 SF
      541 Philadelphia Ave, Egg Harbor City, NJ 08215-1555
      View Details
    • Value Estimation
      $300,000
      2,340 SF

      50 6th Ter

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,340 SF
      50 6th Ter, Egg Harbor City, NJ 08215-1827
      View Details
    • Value Estimation
      $360,000
      4,158 SF

      559 Philadelphia Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 4,158 SF
      559 Philadelphia Ave, Egg Harbor City, NJ 08215-1546
      View Details

    Similar Nearby for Sale

    • $699,000
      0.62 Acres

      Thriving Bakery with Apartments Above

      Turnkey investment property with bakery and two apartments in Egg Harbor City.
      40 Boston Ave Ave, Egg Harbor City, NJ 08215
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    • Contact for pricing

      Development Site for 55+ Housing

      42,000 SF site ideal for age 55+ housing.
      Egg Harbor, NJ 08215
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    • $699,000
      7,000 SF

      Thriving Bakery with Income Apartments

      Turnkey commercial property with bakery and two apartments for sale.
      40 Boston Ave, Egg Harbor City, NJ 08215
      View Details
    • $699,000
      0.62 Acres

      Mixed-Use Property in Egg Harbor

      Thriving bakery with two apartments in growing downtown area.
      40 Boston Ave Ave, Egg Harbor City, NJ 08215
      View Details
    • $85,000
      5.27 Acres

      Vacant Land Off White Horse Pike

      5+ acre vacant lot in Pinelands area, mixed-use permitted.
      4834 White Horse Pike, Egg Harbor City, NJ 08215
      View Details
    • $5,800,000
      4,685 SF

      NNN Ground Lease Wawa Investment

      20-year Wawa ground lease with zero landlord responsibilities.
      275 W White Horse Pike, Egg Harbor City, NJ 08215
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      4,500 SF

      Retail Space in Egg Harbor

      Prime retail space with flexible layout in Egg Harbor City.
      208 Philadelphia Ave, Egg Harbor City, NJ 08215
      View Details
    • $5,000 /Mo
      12,332 SF

      Industrial Property with Licensed Paint Booth

      Manufacturing/warehouse space with office, drive-in, and licensed paint booth.
      615 Cincinnati Ave, Egg Harbor City, NJ 08215
      View Details
    • $800 /Mo

      Retail Space in Business District

      Commercial storefront in Egg Harbor City's business district for lease.
      257 Philadelphia Ave, Egg Harbor City, NJ 08215
      View Details
    • $10 SF/Yr
      113,256 SF

      Versatile Commercial Space Near Transportation

      Adaptable commercial property suitable for various business ventures.
      13 Buffalo Ave, Egg Harbor City, NJ 08215
      View Details
    • Contact for pricing
      166,835 SF

      Approved Cannabis Grow/Car Sales

      20,000 SF building on 3.83 acres, multiple uses.
      111 New York Ave, Egg Harbor City, NJ 08215
      View Details
    • $9 SF/Yr
      113,256 SF

      Versatile Industrial/Retail Space Available

      55,000 SF warehouse and retail space for lease.
      801 Atlantic Ave, Egg Harbor City, NJ 08215
      View Details
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    131 Washington Ave
    Egg Harbor City, NJ 08215
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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.

    More about this property
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