Property profile

2004 Bay Shore Rd Villas, NJ 08251

FOR SALE
Office buildings
Property ID
US59-1450394
0.98 ac lot Built 1950
Entity Owned 4-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This mixed-use commercial complex is located on just under one acre along the Bayshore corridor in the southern end of Villas, near Cape May and the Wildwoods. The property comprises two updated buildings totaling six units, with individual, separately metered utility service for all units. The front building includes a 2,500-square-foot medical office, plus three ground-floor commercial suites of approximately 1,000 square feet each, set back from the main road; these suites are configured for independent tenancy and include features for accessibility where applicable. The ground level also includes a fully renovated one-bedroom apartment on the second floor along with a modern private office suite. Ground-floor units are wheelchair accessible where applicable. Exterior and site features include expanded paved parking with 34 spaces, vinyl siding installed in 2023, and enhanced back-lit signage. The property has a legal use configuration allowing five commercial units and one residential unit.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1950
Lot 0.98 ac (42,510 SF)
Zoning code GB
APN 05 00334- 01-00001
UPID US59-1450394

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Pediatrician Physician
  • Physician
  • Medical Clinic

Location

2004 Bay Shore Rd Villas, NJ 08251
Villas metro Census 21804 OCEAN CITY, NJ METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$910k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$885k

Owner & transaction history

since 2022
Last sale
$600,000
3 recorded transactions
2023
Price N/A
2022
$600,000
1969
Price N/A

Zoning & alternative use

GB · Villas, NJ

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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