Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    242 S Main St Barnegat, NJ 08005
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    242 S Main St Barnegat, NJ 08005

    View on Map
    • Commercial real estate
    • 2,944 SF
    • 2.93 lot acres
    For Sale
    $825,000
    View Listing →
    Freestanding Former Bank Building For Sale
    $825,000
    2,742 SF

    Freestanding Former Bank Building

    Freestanding 2,742 SF former bank on 2.93 acre parcel.

    242 S Main St, Barnegat, NJ
    View Listing
    Property ID
    US59-1373547
    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.
    Value Estimations
    Cap Rate Potential
    8.5%
    Commercial real estate
    Location Intelligence

    Current Use by Public Records

    • Wells Fargo Bank / Bank / Loan Service
    • Wells Fargo ATM / Atm
    • Wells Fargo Advisors / Financial Advisor

    Property Details for 242 S Main St

    Year built
    1975
    Construction
    BRICK
    Lot size
    2.93 lot acres
    Property size
    2,944 SF
    Zone code
    CV
    Property type
    Commercial real estate
    APN
    01 00258-0000-00064- 01
    APU
    10025800000006401

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $400,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $565,000
      6.5%
      $525,000
      7%
      $485,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $629,000
      Market price range: $321k - $629k
      AI Estimate
      $595,000
      Market price range: $218k - $595k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $475,000
      Current use
      OFFICE BUILDING
      $700,000
      Change: +47% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Barnegat
    County
    Ocean
    State
    New Jersey
    Longitude
    -74.2285
    Latitude
    39.7464
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA 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
    $24,854
    $503,800
    $350,000
    $853,800
    -
    $503,800
    $350,000
    $853,800

    Comparable in this City

    • Value Estimation by Request

      626 Main St Sta, Unit A

      COMMERCIAL (GENERAL)
      626 Main St Sta, Barnegat, NJ 08005
      View Details
    • Value Estimation by Request
      20.61 Acres

      1301 State Hwy 72

      COMMERCIAL (GENERAL) • 20.61 Acres
      1301 State Hwy 72, Barnegat, NJ 08005
      View Details
    • Value Estimation by Request
      35.93 Acres

      103 Lakeview Dr

      COMMERCIAL (GENERAL) • 35.93 Acres
      103 Lakeview Dr, Barnegat, NJ 08005-1327
      View Details
    • Value Estimation by Request

      19 Rte 72

      COMMERCIAL (GENERAL)
      19 Rte 72, Barnegat, NJ 08005
      View Details
    • Value Estimation by Request

      49 Rte 72

      COMMERCIAL (GENERAL)
      49 Rte 72, Barnegat, NJ 08005
      View Details
    • Value Estimation by Request

      290 Rte 72

      COMMERCIAL (GENERAL)
      290 Rte 72, Barnegat, NJ 08005-1055
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      105,149 SF

      Self-Storage and Office Business Center

      105,149 SF self-storage and office business center for sale.
      85 S Main St, Barnegat, NJ 08005
      View Details
    • $83,000
      0.21 Acres

      Barnegat Land For Sale

      0.21 acre commercial land with multi-use potential in Barnegat.
      68 Memorial Dr, Barnegat, NJ 08005
      View Details
    • $399,900
      24.00 Acres

      Barnegat Land with Development Potential

      Two lots totaling 24.85 acres in Barnegat, New Jersey.
      235 Route 72, Barnegat, NJ 08005
      View Details
    • $425,000
      1,600 SF

      Barnegat Mixed-Use Property on 1.3 Acres

      Expanded ranch on 1.3 acres with commercial zoning.
      135 S Main St, Barnegat, NJ 08005
      View Details
    • $59,900
      0.22 Acres

      Vacant Lots in Ocean Acres

      Six vacant lots available in the Ocean Acres section.
      2012 Breakers Dr, Barnegat, NJ 08005
      View Details
    • Contact for pricing
      0.25 Acres

      Land in Barnegat, New Jersey

      Land available in Barnegat, New Jersey.
      6 Jolly Roger Dr, Barnegat, NJ 08005
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      10,147 SF

      Retail Space with Drive-Thru

      10,147 SF retail space suitable for drive-thru restaurant.
      895 W Bay Ave, Barnegat, NJ 08005
      View Details
    • $1,600 /Mo
      945 SF

      Barnegat Office Space For Rent

      Professional office space in high-traffic Barnegat location.
      890 W Bay Ave, Barnegat, NJ 08005
      View Details
    • $2,000 /Mo
      2,820 SF

      Barnegat Office Space For Rent

      Charming upper-level office suite on Main Street in Barnegat.
      369 N Main St, Barnegat, NJ 08005
      View Details
    • $2,000 /Mo
      1,702 SF

      Route 9 Medical Office Space

      Medical office space available on busy Route 9.
      329 S Main St, Barnegat, NJ 08005
      View Details
    • $1,600 /Mo
      945 SF

      Barnegat Office Space For Rent

      Professional office space in high-traffic Barnegat location, ready for occupancy.
      890 W Bay Ave, Barnegat, NJ 08005
      View Details
    • Contact for pricing

      Retail Center Anchored by Job Lots

      Neighborhood retail center with high-traffic McDonald's location.
      580 N Main St, Barnegat Township, NJ 08005
      View Details
    View Listing
    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.
    242 S Main St
    Barnegat, NJ 08005
    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.
    Sign Up Successful!
    You now have access to more from Realmo!