304 Broadway Point Pleasant Beach, NJ 08742-2611
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Broadway Court Motel Hotel & Motel
For any nonconforming single family dwelling located within the LR, SF-2, SF-5, HR, RR-1, RR-2 and RR-3, LC ZONING DISTRICTS (said zoning districts to be defined hereinafter as "residential zoning districts") of the Borough that shall have been destroyed by reason of flood, windstorm, fire, explosion or act of God or otherwise to an extent of more than parti…
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
LC · Point Pleasant Beach, NJFor any nonconforming single family dwelling located within the LR, SF-2, SF-5, HR, RR-1, RR-2 and RR-3, LC ZONING DISTRICTS (said zoning districts to be defined hereinafter as "residential zoning districts") of the Borough that shall have been destroyed by reason of flood, windstorm, fire, explosion or act of God or otherwise to an extent of more than partial destruction as provided for in N.J.S.A. 40:55D-68, and such destruction shall have been deemed complete destruction, for the period permitted by this subsection, such nonconforming single family dwelling located within a residential zoning district of the Borough may be rebuilt, restored or repaired, provided such building or structure is rebuilt, restored or repaired within the existing dwelling's footprint, does not exceed the height, area and bulk footprint such as setbacks of the original building or structure, and such rebuilding, restoration or repair is otherwise in conformity with the regulations of this chapter. Nothing in this chapter shall prevent the strengthening or restoring to a safe condition of any wall, floor or roof which has been declared unsafe by the Construction Official. b. Any nonconforming single family dwelling which has been damaged by fire, explosion, flood, windstorm or act of God shall be examined by the following two people: 1. The Construction Code Official. 2. The owner or an architect or engineer selected by the owner. c. If, in the opinion of the majority of the above people, the value of repairing the condition is 50 percent or greater of the total market value of replacing the entire structure, it shall be considered destroyed and may be rebuilt to the original specifications only as provided by paragraph a herein; meaning by way of example but not limitation, that any reconstruction shall be subject to current regulations promulgated by FEMA and other applicable regulatory authorities. d. Where the value of repairing the condition is determined to be less than 50 percent of the value of replacing the entire structure, the nonconforming single family dwelling may be rebuilt and used for the same purpose as before, provided that it does not exceed the height, area and bulk of the original structure. e. The percent damaged shall be the current replacement costs of the portion damaged, computed as a percentage of the current replacement cost of the entire structure, and shall not include the cost of the foundation unless the foundation is damaged or condemned. f.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.