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    Property profile & analytics

    272 21St St Avalon, NJ 08202

    • Commercial real estate
    • 865 SF
    For Sale
    View listing
    $449,900
    Value Estimations
    Cap Rate Potential
    3.2%
    Commercial real estate
    Location Intelligence
    Property ID
    US59-2776294
    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

    • Drumar Construction / Contractor
    • B. Hartzell / Gift Shop / Fashion Accessories Store

    Property Details for 272 21St St

    Construction
    FRAME
    Property size
    865 SF
    Zone code
    B-1
    Property type
    Commercial real estate
    APN
    01 00021- 04-00062- 272
    APU
    1000210400062272

    Description

    This exceptional 865-square-foot commercial unit is situated in the heart of Avalon, New Jersey's desirable downtown area, next to Tiger Lily Boutique and near popular establishments like Kohler's Donuts and The Whitebrier/Circle Tavern/The Princeton block. The property features elegant hardwood floors throughout the main area and tasteful tile in the kitchen and bathroom. A well-appointed bathroom with contemporary fixtures adds to the unit's appeal. Two assigned parking spaces are included, a significant advantage in this location. The unit is currently leased, offering an immediate return on investment for the buyer. The lease terms will be disclosed upon request. This location benefits from Avalon's vibrant atmosphere, known for its boutique shopping, diverse dining options, and lively nightlife, attracting both residents and tourists. The property is ideal for a variety of retail or professional uses, providing a strong foundation for a successful business venture. The unit is well-maintained and ready for immediate occupancy subject to the existing lease. This presents a rare opportunity to acquire a commercial property in a highly sought-after area of Avalon, offering both immediate income and long-term growth potential. The 0.02-acre lot provides convenient access and ample space for the business. This is a turnkey opportunity to establish a presence in one of Avalon's most desirable commercial locations.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $245,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $256,000
      Market price range: $142k - $553k

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

    Location Insight

    • Map
    • Local Demand
    City
    Avalon
    County
    Cape May
    State
    New Jersey
    Longitude
    -74.7198
    Latitude
    39.1023
    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
    $1,221
    $100,000
    $115,000
    $215,000
    -
    $100,000
    $115,000
    $215,000

    Comparable in this City

    • Value Estimation
      $295,000
      0.31 Acres

      2208 Dune Dr

      COMMERCIAL (GENERAL) • 0.31 Acres
      2208 Dune Dr, Avalon, NJ 08202-2182
      View Details
    • Value Estimation
      $385,000
      4,342 SF

      2738 Dune Dr

      COMMERCIAL (GENERAL) • 4,342 SF
      2738 Dune Dr, Avalon, NJ 08202-1905
      View Details
    • Value Estimation
      $335,000
      6,498 SF

      2800 Boardwalk

      COMMERCIAL (GENERAL) • 6,498 SF
      2800 Boardwalk, Avalon, NJ 08202
      View Details
    • Value Estimation
      $335,000
      6,540 SF

      2349 Dune Dr

      COMMERCIAL (GENERAL) • 6,540 SF
      2349 Dune Dr, Avalon, NJ 08202
      View Details
    • Value Estimation
      $245,000
      995 SF

      2013 Dune Dr

      COMMERCIAL (GENERAL) • 995 SF
      2013 Dune Dr, Avalon, NJ 08202-2220
      View Details
    • Value Estimation
      $160,000
      4,460 SF

      2819 Dune Dr

      COMMERCIAL (GENERAL) • 4,460 SF
      2819 Dune Dr, Avalon, NJ 08202-1982
      View Details

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    272 21St St
    Avalon, NJ 08202
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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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