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

    132 Chestnut St Woodbine, NJ 08270

    • Commercial real estate
    • 14,900 SF
    • 0.86 lot acres
    OFF-MARKET
    Value Estimations
    $2,590,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US59-0975787
    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 132 Chestnut St

    Year built
    1945
    Construction
    FRAME
    Lot size
    0.86 lot acres
    Property size
    14,900 SF
    Zone code
    PV
    Property type
    Commercial real estate
    APN
    04 00031-0000-00010
    APU
    400031000000010

    Description

    This exceptional value-add investment opportunity presents a 14,900 square foot industrial property situated on a 0.86-acre lot in Woodbine, New Jersey. Located at 132 Chestnut Street, this single-story, 1945-built building is zoned PV and offers significant potential for various uses. Currently vacant, the property's previous use as a boat repair business showcases its adaptability. The expansive space allows for a multitude of commercial applications, including manufacturing, warehousing, or flex space configurations. The property's size and versatility make it an ideal candidate for rental income generation, further enhancing its investment appeal. Low taxes contribute to a strong return on investment. This property is conveniently located just 15 minutes from the beach, offering a desirable location for both business and leisure. The single unit building presents a straightforward management structure, minimizing operational complexities. This is a rare opportunity to acquire a substantial industrial property in a prime location with significant upside potential. The property's size and zoning provide flexibility for a wide range of commercial ventures. Don't miss this chance to capitalize on this promising investment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,230,000
      6.5%
      $2,055,000
      7%
      $1,910,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,448,000
      Market price range: $2.45M - $9.52M
      AI Estimate
      $3,264,000
      Market price range: $1.83M - $20.3M

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

    Location Insight

    • Map
    • Local Demand
    City
    Woodbine
    County
    Cape May
    State
    New Jersey
    Longitude
    -74.8627
    Latitude
    39.269
    CBSA code
    36140
    CBSA name
    OCEAN 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
    2023
    $3,017
    $82,200
    $68,500
    $150,700
    -
    $82,200
    $68,500
    $150,700

    Comparable in this City

    • Value Estimation by Request

      Denns Ptsbg Rd

      COMMERCIAL (GENERAL)
      Denns Ptsbg Rd, Woodbine, NJ 08270
      View Details
    • Value Estimation by Request
      8.99 Acres

      500 John S Penn Blvd

      COMMERCIAL (GENERAL) • 8.99 Acres
      500 John S Penn Blvd, Woodbine, NJ 08270-2636
      View Details
    • Value Estimation by Request

      106 Rte 50

      COMMERCIAL (GENERAL)
      106 Rte 50, Corbin City, NJ 08270-9034
      View Details
    • Value Estimation by Request
      0.17 Acres

      522 Washington Ave

      COMMERCIAL (GENERAL) • 0.17 Acres
      522 Washington Ave, Woodbine, NJ 08270-2025
      View Details
    • Value Estimation by Request
      0.17 Acres

      541 Adams Ave, Unit 545

      COMMERCIAL (GENERAL) • 0.17 Acres
      541 Adams Ave, Woodbine, NJ 08270-2100
      View Details
    • Value Estimation by Request
      0.21 Acres

      601 Franklin St

      COMMERCIAL (GENERAL) • 0.21 Acres
      601 Franklin St, Woodbine, NJ 08270-2169
      View Details

    Similar Nearby for Sale

    • $150,000
      4.90 Acres

      Buildable Wooded Lot in Corbin City

      4.9 acre wooded lot approved for building a single-family home.
      116 Head Of River Rd, Corbin City, NJ 08270
      View Details
    • $179,900
      0.50 Acres

      Residential Land in Secluded Neighborhood

      Residential land in historic Marshallville neighborhood, perk test available.
      336 Marshallville Rd, Woodbine, NJ 08270
      View Details
    • $89,900

      Woodbine Warehouse Opportunity For Sale

      Warehouse in Woodbine, being sold as-is, where-is.
      208 Webster St, Woodbine, NJ 08270
      View Details
    • $230,000
      6.87 Acres

      Upper Township Land For Sale

      6.87 acre commercial land near shore points.
      1520 Rte 50, Woodbine, NJ 08270
      View Details
    • New
      $35,000
      Pending

      Land For Sale Woodbine, NJ

      Unimproved land available for sale in Woodbine, New Jersey.
      301 Jefferson Ave, Woodbine, NJ 08270
      View Details
    • $175,000
      0.80 Acres

      Tuckahoe, NJ Coastal Land

      Desirable 0.8 acre lot with well and septic system.
      2 Route 50, Tuckahoe, NJ 08270
      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.
    132 Chestnut St
    Woodbine, NJ 08270
    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.