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Property profile & analytics
OFF-MARKET
Estimated value
$1,000,000
Commercial real estate
300 Bay Ave 2 Ocean City, NJ 08226-4026
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US59-0267657
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1935
Construction
FRAME
Total area
2,346 SF
Lot
0.06 ac (2,574 SF)
Zoning code
MVH
APN
08 00312-0000-00001
UPID
US59-0267657
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Ocean City Fishing Center Boat Rental Service Bait Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.00M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$927k
Blend (final)
Blend
$1.00M
Owner & transaction history
300 Bay Avenue LLC · 2 yrs held
300 Bay Avenue LLC
since 2024
Last sale
$999,999
7 recorded transactions
Zoning & alternative use
MVH · Ocean City, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
uirements. § 25-205.7.6 Off-Street Parking and Loading. § 25-205.7.7 Hotel and Motel Operational Standards. § 25-205.7.8 Building Design. § 25-205.7.8.1 Floating Building Envelope. § 25-205.7.9 Review Clause. § 25-205.8 MVH, Marine Village Harbor Zone. § 25-205.8.1 Purpose. § 25-205.8.2 Permitted Principal Uses. § 25-205.8.3 Conditional Uses. § 25-205.8.4 Pe…
Zone name
Marine Village Harbor
General category
COMMERCIAL
Zone area
5.13 ac
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Ocean City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ocean City submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$1,000,000
ML approach
$1,000,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.00M
Range $900k – $1.10M · ±10% · vs last sale $1,000k (Feb 22 2024)
Last sale anchor
$1,000k
Feb 22 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$426 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$5,532
Tax year 2022
Assessed value
$537,600
Assessed 2023
Previous assessed
$537,600
+0.0% YoY
Effective rate
1.03%
On assessed value
Assessed land
$312,500
Assessed improvement
$225,100
Land market value
$312,500
Improvement market value
$225,100
Total market value
$537,600
Applied tax rate
8.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1935
Construction
FRAME
Heating
NONE
Stories
2
Units
3
Total area
2,346 SF
Lot
0.06 ac (2,574 SF)
Zoning code
MVH
APN
08 00312-0000-00001
UPID
US59-0267657
Jurisdiction
CAPE MAY
Zoning & alternative use
MVH · Ocean City, NJZoning MVH · permitted uses
MVH · Ocean City, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
uirements. § 25-205.7.6 Off-Street Parking and Loading. § 25-205.7.7 Hotel and Motel Operational Standards. § 25-205.7.8 Building Design. § 25-205.7.8.1 Floating Building Envelope. § 25-205.7.9 Review Clause. § 25-205.8 MVH, Marine Village Harbor Zone. § 25-205.8.1 Purpose. § 25-205.8.2 Permitted Principal Uses. § 25-205.8.3 Conditional Uses. § 25-205.8.4 Permitted Accessory Uses. § 25-205.8.5 Bulk Requirements. § 25-205.8.6 (Reserved) § 2
Zone name
Marine Village Harbor
General category
COMMERCIAL
Zone area
5.13 ac
Building & site characteristics
From public records
Year built
1935
Construction
FRAME
Heating
NONE
Stories
2
Units
3
Lot
0.06 ac
Current owner
From public records · entity-resolved
300 Bay Avenue LLC
Entity
Mailing address
653 RED BONE RD, CHESTER SPRINGS, PA 19425-3607
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 22, 2024
$999,999
300 Bay Avenue LLC
3rd & Bay Marina LLC
Deed
—
Jul 31, 2017
—
3rd & Bay Marina LLC
—
Deed
related
$125,000 · Univest Bk & Tr Co
May 31, 2012
$554,000
3rd & Bay Marina LLC
104 S Oakland Ave LLC
Grant Deed
$454,000 · Fox Chase Bank
Jan 26, 2012
—
104 S Oakland Ave LLC
Sheriff Of County Of Cape May
Grant Deed
related
—
—
—
Dehaven,jack N & Emily M
—
Deed Of Trust
related
$344,000 · Wachovia Bk/sc
—
—
Dehaven,jack & Emily
—
Deed Of Trust
related
$95,000 · Crown Bk
—
—
3rd & Bay Marina LLC
—
Deed Of Trust
related
$125,000 · Univest Bk & Tr Co
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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