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

    3160 Asbury Ave Ocean City, NJ 08226-2230

    • Commercial real estate
    • 0.16 lot acres
    OFF-MARKET
    Last Sale
    May 17, 2024
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US59-1563133
    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

    • Gray Haenn Real Estate / Real Estate Agency
    • Matthew Bader / Real Estate Agency
    • Bader-Collins Associates / Real Estate Agency
    • Berger Realty / Vacation Rental / Real Estate Agency
    • Dale Collins / Real Estate Agency

    Property Details for 3160 Asbury Ave

    Construction
    FRAME
    Lot size
    0.16 lot acres
    Zone code
    ATRN
    Property type
    Commercial real estate
    APN
    08 03103-0000-00028
    APU
    803103000000028

    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
    Ocean City
    County
    Cape May
    State
    New Jersey
    Longitude
    -74.6086
    Latitude
    39.2539
    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
    $11,128
    $978,600
    $102,800
    $1,081,400
    -
    $978,600
    $102,800
    $1,081,400

    Comparable in this City

    • Value Estimation by Request
      0.52 Acres

      748 Boardwalk

      COMMERCIAL (GENERAL) • 0.52 Acres
      748 Boardwalk, Ocean City, NJ 08226
      View Details
    • Value Estimation by Request
      0.10 Acres

      3201 Central Ave

      COMMERCIAL (GENERAL) • 0.10 Acres
      3201 Central Ave, Ocean City, NJ 08226-2033
      View Details
    • Value Estimation by Request
      0.43 Acres

      1005 Hvn Ave

      COMMERCIAL (GENERAL) • 0.43 Acres
      1005 Hvn Ave, Ocean City, NJ 08226
      View Details
    • Value Estimation by Request
      0.41 Acres

      1206 Wesley Ave

      COMMERCIAL (GENERAL) • 0.41 Acres
      1206 Wesley Ave, Ocean City, NJ 08226
      View Details
    • Value Estimation by Request
      0.34 Acres

      1242 Ww Ave

      COMMERCIAL (GENERAL) • 0.34 Acres
      1242 Ww Ave, Ocean City, NJ 08226
      View Details
    • Value Estimation by Request
      0.16 Acres

      700 Ww Ave Ste, Unit 200

      COMMERCIAL (GENERAL) • 0.16 Acres
      700 Ww Ave Ste, Ocean City, NJ 08226-3799
      View Details

    Similar Nearby for Sale

    • $639,900

      Ocean City Townhouse with Amenities

      Two-bedroom townhouse in Ocean City with resort-style amenities.
      13 Marlin Ct, Ocean City, NJ 08226
      View Details
    • Contact for pricing
      3,760 SF

      Ocean City Office For Sale

      Office space available in Ocean City, New Jersey.
      201 West Ave, Ocean City, NJ 08226
      View Details
    • $875,000

      Ocean City Condo Near Beach

      First-floor condo near beach with rental income potential.
      1414 West Ave, Ocean City, NJ 08226
      View Details
    • $369,999

      Oceanside Condominium with Ocean Views

      One-bedroom condo steps from the beach with ocean views.
      875 Plymouth Pl, Ocean City, NJ 08226
      View Details
    • $5,349,900
      3,890 SF

      Beachblock Duplex Near Boardwalk

      Duplex near the beach with rental history and ocean views.
      909 4Th St, Ocean City, NJ 08226
      View Details
    • Contact for pricing
      0.23 Acres

      Asbury Avenue Commercial Office Suite

      Versatile 500 SF office suite in high-traffic location.
      801 Asbury Ave, Ocean City, NJ 08226
      View Details

    Similar Nearby for Lease

    • $1,350 /Mo
      780 SF

      Asbury Avenue Office Space

      Adaptable 780 SF office space in historic downtown Ocean City.
      810 Asbury Ave, Ocean City, NJ 08226
      View Details
    • $18,000 /Mo

      Ocean City Commercial Space Available

      Versatile commercial space in high-traffic area, ideal for various businesses.
      800 Atlantic Ave, Ocean City, NJ 08226
      View Details
    • $350 /Mo

      Professional Office Space in Ocean City

      Flexible office and coworking space in the heart of Ocean City.
      1301 West Ave, Ocean City, NJ 08226
      View Details
    • $1,300 /Mo
      556 SF

      Ocean City Office with Water Views

      Landmark building in Ocean City with downtown and water views.
      801 Asbury Ave, Ocean City, NJ 08226
      View Details
    • $1,250 /Mo
      500 SF

      Asbury Avenue Commercial Office Suite

      Versatile 500 SF office suite in high-traffic location.
      801 Asbury Ave, Ocean City, NJ 08226
      View Details
    • $1,250 /Mo

      Asbury Ave Office Suite

      Versatile 500 SF office suite on Asbury Ave.
      801 Asbury Ave Ave, Ocean City, NJ 08226
      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.
    3160 Asbury Ave
    Ocean City, NJ 08226-2230
    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.