Your AI Navigator in Commercial Real Estate
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
    Property profile & analytics

    232 Bay Ave Ocean City, NJ 08226-4124

    • Commercial real estate
    • 0.08 lot acres
    OFF-MARKET
    Value Estimation
    $285,000
    Location Intelligence
    Property ID
    US59-2064401
    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

    • Pirate Voyages / Boat Tour Agency
    • Ocean City Parasail / Parasailing Ride Operator / Boat Rental Service

    Property Details for 232 Bay Ave

    Year built
    2011
    Construction
    FRAME
    Lot size
    0.08 lot acres
    Zone code
    MVH
    Property type
    Commercial real estate
    APN
    08 00215-0000-00001- 02
    APU
    80021500000000102

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $305,000

    • CAP approach

      CAP return
      Estimation
      6%
      $205,000
      6.5%
      $235,000
      7%
      $235,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $235,000
      Geo Method
      $210,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $260,000
      Retail
      $225,000
      Mixed-Use
      $200,000
      Hospitality
      $250,000
      Educational
      $230,000
      Residential Income
      $200,000
      Energy
      $255,000
      Income-Based Land
      $220,000
      Food Service
      $205,000

    Location Insight

    • Map
    • Local Demand
    City
    Ocean City
    County
    Cape May
    State
    New Jersey
    Longitude
    -74.5711
    Latitude
    39.2885
    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
    2022
    $4,792
    $437,500
    $28,200
    $465,700
    -
    $437,500
    $28,200
    $465,700

    Comparable in this City

    • Value Estimation by Request
      1.10 Acres

      1006-44 Ww Ave

      COMMERCIAL (GENERAL) • 1.10 Acres
      1006-44 Ww Ave, Ocean City, NJ 08226
      View Details
    • Value Estimation by Request
      0.24 Acres

      110 34th St

      COMMERCIAL (GENERAL) • 0.24 Acres
      110 34th St, Ocean City, NJ 08226-2054
      View Details
    • Value Estimation by Request
      0.52 Acres

      644 Boardwalk, Unit 666

      COMMERCIAL (GENERAL) • 0.52 Acres
      644 Boardwalk, Ocean City, NJ 08226-3846
      View Details
    • Value Estimation by Request
      0.20 Acres

      916 Boardwalk, Unit 920

      COMMERCIAL (GENERAL) • 0.20 Acres
      916 Boardwalk, Ocean City, NJ 08226-3537
      View Details
    • Value Estimation by Request
      0.29 Acres

      924 Palen Ave, Unit 26

      COMMERCIAL (GENERAL) • 0.29 Acres
      924 Palen Ave, Ocean City, NJ 08226-3409
      View Details
    • Value Estimation by Request
      0.24 Acres

      903 Bay Ave

      COMMERCIAL (GENERAL) • 0.24 Acres
      903 Bay Ave, Ocean City, NJ 08226-3455
      View Details

    Similar Nearby for Sale

    • $639,900

      Ocean City Townhouse with Amenities

      Two-bedroom townhouse in Ocean City with resort-style amenities.
      13 Marlin Ct, Ocean City, NJ 08226
      View Details
    • Contact for pricing
      3,760 SF

      Ocean City Office For Sale

      Office space available in Ocean City, New Jersey.
      201 West Ave, Ocean City, NJ 08226
      View Details
    • Contact for pricing
      500 SF

      Versatile Office Suite on Asbury

      Bright, adaptable 500 SF office suite in high-traffic location.
      801 Asbury Ave, Ocean City, NJ 08226
      View Details
    • $199,999

      Turn-Key Restaurant Franchise Opportunity

      Established franchise restaurant for sale in downtown Ocean City, NJ.
      656 Asbury-Business Only Ave, Ocean City, NJ 08226
      View Details
    • Contact for pricing
      0.23 Acres

      Asbury Avenue Commercial Office Suite

      Versatile 500 SF office suite in high-traffic location.
      801 Asbury Ave, Ocean City, NJ 08226
      View Details
    • $875,000

      Ocean City Condo Near Beach

      First-floor condo near beach with rental income potential.
      1414 West Ave, Ocean City, NJ 08226
      View Details

    Similar Nearby for Lease

    • $1,300 /Mo
      556 SF

      Ocean City Office with Water Views

      Landmark building in Ocean City with downtown and water views.
      801 Asbury Ave, Ocean City, NJ 08226
      View Details
    • $1,350 /Mo
      780 SF

      Asbury Avenue Office Space

      Adaptable 780 SF office space in historic downtown Ocean City.
      810 Asbury Ave, Ocean City, NJ 08226
      View Details
    • $3,800 /Mo

      Modern Office in Prime Location

      Modern office space in the heart of Ocean City's business district.
      701 West Ave, Ocean City, NJ 08226
      View Details
    • New
      $18,000 /Mo

      Ocean City Commercial Space Available

      Versatile commercial space in high-traffic area, ideal for various businesses.
      800 Atlantic Ave, Ocean City, NJ 08226
      View Details
    • $3,600 /Mo

      New Retail Space in Ocean City

      Newly constructed retail space in a high-traffic downtown location.
      625 Asbury Ave, Ocean City, NJ 08226
      View Details
    • $1,250 /Mo

      Asbury Ave Office Suite

      Versatile 500 SF office suite on Asbury Ave.
      801 Asbury Ave Ave, Ocean City, NJ 08226
      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.
    232 Bay Ave
    Ocean City, NJ 08226-4124
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimation

    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.

    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.

    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
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.