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

    3007 Ocean Hts Ave Egg Harbor Township, NJ 08234-7749

    • Drug stores
    • 2.05 lot acres
    OFF-MARKET
    Last Sale
    Jul 02, 2024
    $1,950,000
    Value Estimations
    $1,950,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US59-0051871
    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

    • Drug stores

    Property Details for 3007 Ocean Hts Ave

    Lot size
    2.05 lot acres
    Zone code
    CB
    Property type
    Drug stores
    APN
    08 06714-0000-00003
    APU
    806714000000003

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Egg Harbor Township
    County
    Atlantic
    State
    New Jersey
    Longitude
    -74.618
    Latitude
    39.3614
    CBSA code
    12100
    CBSA name
    ATLANTIC 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
    $42,411
    $256,300
    $1,015,400
    $1,271,700
    -
    $256,300
    $1,015,400
    $1,271,700

    Comparable in this City

    • Value Estimation by Request
      2.26 Acres

      6050 Black Horse Pike

      DRUG STORE, PHARMACY • 2.26 Acres
      6050 Black Horse Pike, Egg Harbor Township, NJ 08234-9752
      View Details
    • Value Estimation by Request
      2.52 Acres

      6815 Tilton Rd

      DRUG STORE, PHARMACY • 2.52 Acres
      6815 Tilton Rd, Egg Harbor Township, NJ 08234-4488
      View Details
    • Value Estimation
      $780,000
      1.48 Acres

      2251 Ocean Hts Ave

      FINANCIAL BUILDING • 1.48 Acres
      2251 Ocean Hts Ave, Egg Harbor Township, NJ 08234-5933
      View Details
    • Value Estimation by Request
      0.70 Acres

      6705 Black Horse Pike

      LIQUOR STORE • 0.70 Acres
      6705 Black Horse Pike, Egg Harbor Township, NJ 08234-3901
      View Details
    • Value Estimation by Request
      1.84 Acres

      6718 Washington Ave

      FINANCIAL BUILDING • 1.84 Acres
      6718 Washington Ave, Egg Harbor Township, NJ 08234
      View Details
    • Value Estimation by Request
      2.09 Acres

      1188 Ocean Hts Ave

      FINANCIAL BUILDING • 2.09 Acres
      1188 Ocean Hts Ave, Egg Harbor Township, NJ 08234-5300
      View Details

    Similar Nearby for Sale

    • $479,900
      0.56 Acres

      Commercial - Egg Harbor Township, NJ

      Established garden center with building, parking, and growth potential.
      643 Zion Rd, Egg Harbor Township, NJ 08234
      View Details
    • $479,900
      0.56 Acres

      Turnkey Garden Center Opportunity

      Established garden center with building, parking, and growth potential.
      643 Zion Rd, Egg Harbor Township, NJ 08234
      View Details
    • $200,000

      Established Deli & Convenience Store

      Profitable deli and convenience store in Egg Harbor Township, NJ.
      402 Zion Rd, Egg Harbor Township, NJ 08234
      View Details
    • Contact for pricing
      20,798 SF

      Showroom/Warehouse Space Available

      20,798 SF showroom/warehouse space with high visibility.
      3157 Fire Rd, Egg Harbor Twp, NJ 08234
      View Details
    • $479,900
      0.56 Acres

      Turnkey Garden Center Opportunity

      Established garden center with building, parking, and growth potential.
      643 Zion Rd, Egg Harbor Township, NJ 08234
      View Details
    • Contact for pricing

      Retail Space Available For Sale

      Retail space with dedicated entrance and shared parking.
      6814 Tilton Rd, Egg Harbor Township, NJ 08234
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      50,000 SF

      Retail Space For Lease

      Retail spaces available from 2,000 to 60,667 square feet.
      6718 Black Horse Pike, Egg Harbor Township, NJ 08234
      View Details
    • Contact for pricing
      28,000 SF

      Retail Space Near ShopRite Plaza

      High-visibility retail space available near major retailers.
      3003 English Creek Ave, Egg Harbor Twp, NJ 08234
      View Details
    • Contact for pricing
      1,770 SF

      Retail Space in Egg Harbor

      Highly accessible retail space in a visible Egg Harbor location.
      6716 Black Horse Pike, Egg Harbor Township, NJ 08234
      View Details
    • Contact for pricing

      Retail Space in Cardiff Plaza

      Retail spaces available in plaza anchored by national tenants.
      6701 Black Horse Pike, Egg Harbor Township, NJ 08234
      View Details
    • Contact for pricing

      Egg Harbor Township Retail/Office Space

      Retail, office, and warehouse spaces available in Egg Harbor Township.
      6418 Black Horse Pike, Egg Harbor Township, NJ 08234
      View Details
    • Contact for pricing
      37,500 SF

      Retail Space For Lease

      Retail spaces available, ranging from 2,000 to 60,667 square feet.
      6716-6718 Black Horse Pike, Egg Harbor Township, NJ 08234
      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.
    3007 Ocean Hts Ave
    Egg Harbor Township, NJ 08234-7749
    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.