Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    400 3rd Ave Asbury Park, NJ 07712-6084
    Back to Search
    Property profile & analytics

    400 3rd Ave, Asbury Park, NJ 07712-6084

    View on Map
    • Residential income homes
    • 16,200 SF
    • 0.20 lot acres
    Off-Market
    Property ID
    US59-0808362
    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.
    Value Estimations
    $2,575,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Residential income homes

    Property Details for 400 3rd Ave

    Year built
    1964
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.20 lot acres
    Zone code
    S-34
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    04 03405-0000-00006
    APU
    403405000000006

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Dec 5, 2019 — 400 3rd Minot LLC — Grant Deed · related $5.3M · Arbor Agcy Lndg LLC
    Mar 1, 2016 $2,640,000 400 3rd Minot LLC B & H Ents Holdings LLC Grant Deed $2M · Tristate Cap Bk
    Jun 28, 2007 — B & H Ents Holdings LLC B & H Ents Quit Claim Deed · related —
    — — B & H Ents Holdings LLC — Deed Of Trust · related $1.5M · Investors Savings Bank Fsb

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $4,280,000
      Current use
      COMMERCIAL (GENERAL)
      $4,130,000
      Change: -4% Conversion: Moderate
      OFFICE BUILDING
      $3,995,000
      Change: -7% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Asbury Park
    County
    Monmouth
    State
    New Jersey
    Longitude
    -74.005
    Latitude
    40.222
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA 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
    $36,574
    $840,000
    $2,697,300
    $3,537,300
    -
    $840,000
    $2,697,300
    $3,537,300

    Comparable in this City

    • Value Estimation
      $730,000
      3,939 SF

      303 8th Ave

      APARTMENT HOUSE (UNDER 5 UNITS)
      303 8th Ave, Asbury Park, NJ 07712-5252
      View Details
    • Value Estimation
      $920,000
      3,824 SF

      411 3rd Ave

      APARTMENT HOUSE (UNDER 5 UNITS)
      411 3rd Ave, Asbury Park, NJ 07712-6089
      View Details
    • Value Estimation by Request
      1,884 SF

      403 4th Ave

      APARTMENT HOUSE (UNDER 5 UNITS)
      403 4th Ave, Asbury Park, NJ 07712-9104
      View Details
    • Value Estimation
      $1,720,000
      6,576 SF

      1004 5th Ave

      APARTMENT HOUSE (UNDER 5 UNITS)
      1004 5th Ave, Asbury Park, NJ 07712-5000
      View Details
    • Value Estimation
      $515,000
      8,031 SF

      503 8th Ave

      APARTMENT HOUSE (UNDER 5 UNITS)
      503 8th Ave, Asbury Park, NJ 07712-5287
      View Details
    • Value Estimation by Request
      0.17 Acres

      1311 Washington Ave

      APARTMENT HOUSE (UNDER 5 UNITS)
      1311 Washington Ave, Asbury Park, NJ 07712-6380
      View Details

    Similar Nearby for Sale

    • $5,000,000
      39,600 SF

      Asbury Park Microunit Development Site

      Approved 48-unit microunit apartment development with historic theater.
      710 Mattison Ave, Asbury Park, NJ 07712
      View Details
    • $21,600,000

      Asbury Park Multifamily Investment Opportunity

      Renovated 98-unit residential building in Asbury Park, New Jersey.
      200 Deal Lake Dr, Asbury Park, NJ 07712
      View Details
    • $1,200,000
      4,086 SF

      Renovated Asbury Park Apartment Building

      Renovated 5-unit apartment building in Asbury Park, New Jersey.
      905 Grand Ave, Asbury Park, NJ 07712
      View Details
    • Contact for pricing

      Luxury Condo Near the Ocean

      Well-maintained condo with ocean views, chef's kitchen, and parking.
      300 Cookman Ave #326, Asbury Park, NJ 07712
      View Details
    • $799,000
      Pending

      Two Buildings on One Lot

      Two buildings on one lot present an investment opportunity.
      101-103 Ridge Ave, Asbury Park, NJ 07712
      View Details
    • $945,000
      Pending

      Versatile Triplex in Asbury Park

      Three vacant units, ideal for investors or owner-occupants.
      1017 Summerfield Ave, Asbury Park, NJ 07712
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Spacious Apartment Near the Beach

      Bright, renovated 1BR apartment with utilities and garage included.
      1615 Park Ave #5B, Asbury Park, NJ 07712
      View Details
    • Contact for pricing
      3,534 SF

      Cookman Avenue Retail/Restaurant Space

      Vanilla box space suitable for bar or restaurant.
      614 Cookman Ave, Asbury Park, NJ 07712
      View Details
    • $15 SF/Yr

      Office Space in Sunset Park

      Office space available in Sunset Industrial Park for rent.
      1750 Brielle Ave, Ocean, NJ 07712
      View Details
    • $3,825 /Mo

      Prime Corner Commercial Space

      Corner commercial space in Asbury Park, ready for your business.
      1400 Main St, Asbury Park, NJ 07712
      View Details
    • Contact for pricing
      1,656 SF

      Ground Floor Storefront Office Space

      Prime visibility office space in Asbury Park's professional corridor.
      501 Grand Ave #103, Asbury Park, NJ 07712
      View Details
    • $2,450 /Mo
      880 SF

      Main Street Storefront in Asbury

      Renovated storefront space in historic building, close to beach.
      1408 Main St, Asbury Park, NJ 07712
      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.
    400 3rd Ave
    Asbury Park, NJ 07712-6084
    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

    Thank You for Inquiry
    400 3rd Ave, Asbury Park, NJ, 07712
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!