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

    407 Richmond Ave Point Pleasant Beach, NJ 08742-2550

    • Commercial real estate
    • 2,295 SF
    • 0.17 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US59-2473536
    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

    • Dr. Patricia McCormack, M.D., F.A.A.D. - Point Pleasant Beach / Physician / Medical Clinic

    Property Details for 407 Richmond Ave

    Construction
    FRAME
    Lot size
    0.17 lot acres
    Property size
    2,295 SF
    Zone code
    GC
    Property type
    Commercial real estate
    APN
    26 00093-0000-00014
    APU
    2600093000000014

    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
    Point Pleasant Beach
    County
    Ocean
    State
    New Jersey
    Longitude
    -74.0503
    Latitude
    40.093
    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
    $7,927
    $350,000
    $139,600
    $489,600
    -
    $350,000
    $139,600
    $489,600

    Comparable in this City

    • Value Estimation by Request
      0.18 Acres

      502 Rte 35b03

      COMMERCIAL (GENERAL) • 0.18 Acres
      502 Rte 35b03, Pt Pleasant Beach, NJ 08742
      View Details
    • Value Estimation by Request
      0.14 Acres

      607-609 Arnold Ave, Unit 609

      COMMERCIAL (GENERAL) • 0.14 Acres
      607-609 Arnold Ave, Point Pleasant Beach, NJ 08742-2502
      View Details
    • Value Estimation by Request
      0.41 Acres

      407 Rte 35

      COMMERCIAL (GENERAL) • 0.41 Acres
      407 Rte 35, Pt Pleasant Beach, NJ 08742-4104
      View Details
    • Value Estimation
      $1,120,000
      9,386 SF

      500 Washington Ave

      COMMERCIAL (GENERAL) • 9,386 SF
      500 Washington Ave, Point Pleasant Beach, NJ 08742-3069
      View Details
    • Value Estimation
      $1,395,000
      11,988 SF

      416 Washington Ave

      COMMERCIAL (GENERAL) • 11,988 SF
      416 Washington Ave, Point Pleasant Beach, NJ 08742-3369
      View Details
    • Value Estimation
      $1,515,000
      11,562 SF

      801 Arnold Ave

      COMMERCIAL (GENERAL) • 11,562 SF
      801 Arnold Ave, Point Pleasant Beach, NJ 08742-2455
      View Details

    Similar Nearby for Sale

    • $1,249,000

      Point Pleasant Beach Commercial Land

      Commercial land with active hotel license in Point Pleasant Beach.
      35 Arnold Ave, Point Pleasant Beach, NJ 08742
      View Details
    • $899,000

      Renovated Duplex Ready for Occupancy

      Renovated duplex with two units, ideal for owner-occupancy or investment.
      1404-1406 Treeneedle Rd, Point Pleasant Beach, NJ 08742
      View Details
    • $1,125,000

      Point Pleasant Beach Residential Lot

      Residential lot in Point Pleasant Beach's 'Library section'.
      326 Curtis Ave, Point Pleasant Beach, NJ 08742
      View Details
    • $2,100,000

      Spacious Duplex Near the Beach

      Two-family duplex, corner lot, near the beach, income potential.
      201 Forman Ave, Point Pleasant Beach, NJ 08742
      View Details
    • $680,000
      2,900 SF

      Commercial Building on Route 88

      Commercial building on Route 88 with excellent visibility.
      3156 Route 88, Point Pleasant Beach, NJ 08742
      View Details
    • $2,900,000
      0.29 Acres

      Riverfront Land in Point Pleasant

      Prime riverfront land in Point Pleasant Beach's maritime hub.
      115 Channel Dr, Point Pleasant Beach, NJ 08742
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Point Pleasant Retail/Office Space

      Recently renovated retail/office space available for lease in Point Pleasant.
      2803 Bridge Ave, Point Pleasant Beach, NJ 08742
      View Details
    • $4,500 /Mo
      1,900 SF

      Oceanfront Condo Winter Rental

      Updated, two-story condo with ocean views and private beach access.
      900 Ocean Ave, Point Pleasant Beach, NJ 08742
      View Details
    • $1,900 /Mo

      Point Pleasant Commercial Space Available

      Updated 1525 SF commercial space suitable for various businesses.
      1531 Beaver Dam Rd, Point Pleasant Beach, NJ 08742
      View Details
    • $1,100 /Mo

      Point Pleasant Beach Office Space

      Office space near beach, boardwalk, train, and shopping district.
      204 Channel Dr, Point Pleasant Beach, NJ 08742
      View Details
    • $14 SF/Yr
      1,674 SF

      Point Pleasant Boro Office Space

      Office space available for lease in Point Pleasant Boro.
      737 Howe St, Point Pleasant Boro, NJ 08742
      View Details
    • $1,900 /Mo
      850 SF

      Point Pleasant Mixed-Use Office/Retail

      High-visibility corner location suitable for office or retail use.
      3112 Bridge Ave, Point Pleasant, NJ 08742
      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.
    407 Richmond Ave
    Point Pleasant Beach, NJ 08742-2550
    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.