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Property profile & analytics
OFF-MARKET
Estimated value
$700,000
Residential income homes
40 Chapman Blvd Somers Point, NJ 08244-1669
Entity Owned
6-yr Hold
Property ID
US59-0567563
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1970
Lot
16.33 ac (711,335 SF)
Zoning code
R-MF
APN
21 00724-0000-00001
UPID
US59-0567563
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
-
Fine Line Masonry,Stucco & Stone Exteriors, LLC General Contractor Renovation Specialist
-
Sea Aire Apartments Apartment Complex Apartment Building
-
Ef Ocho Foto Wedding Service Photography Service
-
Garden State Canna Club Community Center
-
Garden State Cannabis Club Community Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$700k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$700k
Owner & transaction history
Sea Aire Apartments LLC · 6 yrs held
Sea Aire Apartments LLC
since 2019
2 recorded transactions
Zoning & alternative use
R-MF · Somers Point, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
-12 Area and bulk requirements. § 114-13 Exceptions to area and bulk requirements. § 114-14 Projections into required yards. § 114-15 Landscaping; fences and walls. § 114-16 Off-street parking. § 114-17 Signs. Article V R-MF Multifamily Residential District § 114-18 Intent; applicable regulations. § 114-19 Permitted uses. § 114-20 Area and bulk requirements.…
Zone name
Residential Multifamily
General category
RESIDENTIAL
Zone area
85.44 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 Somers Point submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Somers Point 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
by Request
ML approach
$700,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$700k
Range $630k – $770k · ±10%
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
—
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
$553,047
Tax year 2022
Assessed value
$20,160,000
Assessed 2023
Previous assessed
$20,160,000
+0.0% YoY
Effective rate
2.74%
On assessed value
Assessed land
$5,040,000
Assessed improvement
$15,120,000
Land market value
$5,040,000
Improvement market value
$15,120,000
Total market value
$20,160,000
Applied tax rate
21.0000
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
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Status
Off-Market
Year built
1970
Heating
NONE
Units
1
Lot
16.33 ac (711,335 SF)
Zoning code
R-MF
APN
21 00724-0000-00001
UPID
US59-0567563
Jurisdiction
ATLANTIC
Zoning & alternative use
R-MF · Somers Point, NJZoning R-MF · permitted uses
R-MF · Somers Point, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
-12 Area and bulk requirements. § 114-13 Exceptions to area and bulk requirements. § 114-14 Projections into required yards. § 114-15 Landscaping; fences and walls. § 114-16 Off-street parking. § 114-17 Signs. Article V R-MF Multifamily Residential District § 114-18 Intent; applicable regulations. § 114-19 Permitted uses. § 114-20 Area and bulk requirements. § 114-21 Area and bulk requirements for two-family dwellings. § 114-22 Exceptions t
Zone name
Residential Multifamily
General category
RESIDENTIAL
Zone area
85.44 ac
Building & site characteristics
From public records
Year built
1970
Heating
NONE
Units
1
Lot
16.33 ac
Current owner
From public records · entity-resolved
Sea Aire Apartments LLC
Entity
Mailing address
40 CLEMENTON RD E #1, GIBBSBORO, NJ 08026-1104
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 18, 2019
—
Sea Aire Apartments LLC
—
Grant Deed
related
$5,760,000 · Berkadia Com'l Mtg
Aug 31, 2012
—
Sea Aire Apartments LLC
—
Deed Of Trust
related
$21,307,000 · Berkadia Commercial Mortgage
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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