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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    28 Ohio Ave Ewing, NJ 08638-2212

    • Residential income homes
    • 2,040 SF
    • 0.30 lot acres
    OFF-MARKET
    Last Sale
    Dec 23, 2020
    $340,000
    Value Estimations
    $360,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US59-2444816
    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

    • Residential income homes

    Property Details for 28 Ohio Ave

    Year built
    2015
    Construction
    FRAME
    Lot size
    0.30 lot acres
    Property size
    2,040 SF
    Zone code
    R-2
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    02 00168-0000-00328- 02
    APU
    20016800000032802

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $335,000
      ML approach
      $380,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $600,000
      6.5%
      $555,000
      7%
      $515,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $288,000
      Market price range: $133k - $335k
      AI Estimate
      $314,000
      Market price range: $183k - $315k

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

    Location Insight

    • Map
    • Local Demand
    City
    Ewing
    County
    Mercer
    State
    New Jersey
    Longitude
    -74.7748
    Latitude
    40.2621
    CBSA code
    45940
    CBSA name
    TRENTON-EWING, 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
    $11,097
    $59,100
    $249,400
    $308,500
    -
    $59,100
    $249,400
    $308,500

    Comparable in this City

    • Value Estimation
      $165,000
      1,950 SF

      65 Weber Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 1,950 SF
      65 Weber Ave, Ewing, NJ 08638-3766
      View Details
    • Value Estimation
      $290,000
      1,547 SF

      12 Lisbon Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 1,547 SF
      12 Lisbon Ave, Ewing, NJ 08638-2876
      View Details
    • Value Estimation
      $245,000
      1,918 SF

      261 Hollowbrook Rd

      APARTMENT HOUSE (UNDER 5 UNITS) • 1,918 SF
      261 Hollowbrook Rd, Ewing, NJ 08638-2342
      View Details
    • Value Estimation
      $295,000
      2,748 SF

      99 King Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,748 SF
      99 King Ave, Ewing, NJ 08638-2109
      View Details
    • Value Estimation
      $270,000
      2,235 SF

      2136 Pennington Rd

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,235 SF
      2136 Pennington Rd, Ewing, NJ 08638-1432
      View Details
    • Value Estimation
      $255,000
      2,234 SF

      135 Woodland Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,234 SF
      135 Woodland Ave, Ewing, NJ 08638-2522
      View Details

    Similar Nearby for Sale

    • $525,000

      Ewing Township Multifamily Investment

      8-Bed, 2-Unit Portfolio, High Cap Rate
      97 Oregon Ave, Ewing Township, NJ 08638
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    • New
      $380,000
      1,438 SF

      Trenton Multifamily Investment Opportunity

      Well-maintained multifamily property with garage in quiet Trenton neighborhood.
      902 Ohio Ave, Trenton, NJ 08638
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    • $399,000

      Well-Maintained Duplex Investment Opportunity

      Duplex with garage, tenant history, well-maintained in a quiet neighborhood.
      902 Ohio Ave Ave, Trenton, NJ 08638
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    • $950,000
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      Ewing, NJ Multi-Building Investment

      Prime Commercial Property: High ROI Potential
      1590 5Th St, Ewing, NJ 08638
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    • $369,000
      1,837 SF

      Updated Townhome in Tamar Commons

      Updated townhome with three bedrooms, modern upgrades, and convenient location.
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    • $795,000
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      Ewing Township Commercial Land

      10-Acre Development Opportunity in NJ
      0 Park Ave, Ewing Township, NJ 08638
      View Details

    Similar Nearby for Lease

    • $2,500 /Mo
      1,316 SF

      Spacious 4-Bedroom Home For Rent

      Spacious 4-bedroom, 2-bath home with walk-out basement.
      862 Ohio Ave, Trenton, NJ 08638
      View Details
    • $7 SF/Yr
      82,000 SF

      Prime Trenton Industrial Warehouse

      82,000 SF Warehouse, Manufacturing Space
      66 Prince St, Trenton, NJ 08638
      View Details
    • $3,750,000
      27,400 SF

      Ewing Warehouse with Rebuilt Office

      24,200 SF warehouse with 3,200 SF rebuilt office.
      1570 N Olden Avenue Ext, Ewing, NJ 08638
      View Details
    • Contact for pricing
      354,993 SF

      Capitol Plaza: Ewing Township Office Space

      Prime Office & Retail Space in Ewing, NJ
      1560 Olden Ave, Ewing Township, NJ 08638
      View Details
    • Contact for pricing
      2,100 SF

      Warehouse with Outdoor Storage

      Single-story warehouse with office area and drive-in door.
      10 Industry Ct, Ewing, NJ 08638
      View Details
    • $1,000 /Mo

      Vacant Lot For Rent

      3,780 square foot vacant lot with two entrances.
      94 --100 E Paul Ave #100-, Trenton, NJ 08638
      View Details
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    28 Ohio Ave
    Ewing, NJ 08638-2212
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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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