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Property profile & analytics
OFF-MARKET
Estimated value
$4,675,000
Commercial real estate
423 23rd Ave North Wildwood, NJ 08260-5356
Individually Owned
~
Est. High Equity
Property ID
US59-2292680
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1966
Construction
CONCRETE BLOCKS
Total area
32,268 SF
Lot
0.38 ac (16,749 SF)
Zoning code
SPRA
APN
07 00291-0000-00012
UPID
US59-2292680
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.46M
Comparable Approach
Comparable
$5.32M
Blend (final)
Blend
$4.68M
Owner & transaction history
Patricia And John Lewis Irrevocable
Patricia And John Lewis Irrevocable
since 2026
7 recorded transactions
Zoning & alternative use
SPRA · North Wildwood, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
SPRA Seaport Pier Redevelopment Area BL291RA Block 291 Redevelopment Area § 276-9 (Reserved) § 276-10 Zoning Map. [Amended 6-5-2019 by Ord. No. 1781 ; 7-8-2020 by Ord. No. 1810 ; 8-6-2024 by Ord. No. 1942 ] The boundaries of the zoning districts and the area established for redevelopment are designated on the map entitled "Zoning Map, April 2024," which acco…
Zone name
Seaport Pier Redevelopment Area
General category
UNKNOWN
Zone area
11.70 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 North Wildwood submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs North Wildwood 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
by Request
CAP Approach
CAP Return
Estimation
6%
$4,825,000
6.5%
$4,455,000
7%
$4,135,000
Blend value · Realmo final
$4.68M
Range $4.21M – $5.14M · ±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
$145 / SF
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
$86,405
Tax year 2022
Assessed value
$5,500,000
Assessed 2023
Previous assessed
$5,500,000
+0.0% YoY
Effective rate
1.57%
On assessed value
Assessed land
$2,650,000
Assessed improvement
$2,850,000
Land market value
$2,650,000
Improvement market value
$2,850,000
Total market value
$5,500,000
Applied tax rate
7.0000
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1966
Construction
CONCRETE BLOCKS
Heating
NONE
Stories
2
Units
1
Total area
32,268 SF
Lot
0.38 ac (16,749 SF)
Zoning code
SPRA
APN
07 00291-0000-00012
UPID
US59-2292680
Jurisdiction
CAPE MAY
Zoning & alternative use
SPRA · North Wildwood, NJZoning SPRA · permitted uses
SPRA · North Wildwood, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
SPRA Seaport Pier Redevelopment Area BL291RA Block 291 Redevelopment Area § 276-9 (Reserved) § 276-10 Zoning Map. [Amended 6-5-2019 by Ord. No. 1781 ; 7-8-2020 by Ord. No. 1810 ; 8-6-2024 by Ord. No. 1942 ] The boundaries of the zoning districts and the area established for redevelopment are designated on the map entitled "Zoning Map, April 2024," which accompanies and is made a part of this chapter. [1] Additionally, such Flood Maps that include the City of North Wildwood as are promulgated and adopted by the Federal Emergency Management Agency ("FEMA"), are hereby made part of this chapter for the purpose of administering the land use control measures of this chapter; provided, however, that the Planning Board may consider other courses of information presented by the applicant to more definitively define the location and extent of the critical areas on any lot or tract at the time of subdivision and/or site plan review. [1]
Zone name
Seaport Pier Redevelopment Area
General category
UNKNOWN
Zone area
11.70 ac
Building & site characteristics
From public records
Year built
1966
Construction
CONCRETE BLOCKS
Heating
NONE
Stories
2
Units
1
Lot
0.38 ac
Current owner
From public records · entity-resolved
Patricia And John Lewis Irrevocable
Individual
Mailing address
2 PURELAND DR, SWEDESBORO, NJ 08085-1762
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
14 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 8, 2026
$212,892
Patricia And John Lewis Irrevocable
John Lewin
Deed
—
Oct 20, 2022
—
Ssn Wildwood LLC
Rhr Wildwood 423 LLC
Deed
$5,000,000 · Sturdy Savings Bank
Aug 3, 2022
—
Ssn Wildwood LLC
Rhr Widlwood 423 LLC
Deed
—
Dec 5, 2017
—
Rhr Wildwood 423 LLC
—
Deed
related
$3,650,000 · Noah Bk
Aug 29, 2016
$4,099,000
Rhr Wildwood 423 LLC
Kings Inn Motel
Grant Deed
$175,000 · Kings Inn Motel
Aug 29, 2016
—
Rhr Wildwood 423
—
Deed
related
$3,535,000 · Tioga Franklin Svgs
Aug 29, 2013
—
Kings Inn Motel
Kings Inn Motel
Quit Claim Deed
related
—
Dec 3, 2007
—
Morgan Stanley Loan 2006-nc2 Trust
Sheriff Of Cape May County
Trustees Deed
related
—
Dec 8, 2005
$459,900
Cassidy,terrence
Engel Group LLC
Grant Deed
$367,920 · Wachovia Mtg
Dec 3, 2005
$459,900
Patterson,donna
Engel Group LLC
Grant Deed
$367,900 · Gmac Mtg Svcs
—
—
Rhr Wildwood 423
—
Deed Of Trust
related
$3,535,000 · Tioga Franklin Svgs
—
—
Kings Inn Motel
—
Deed Of Trust
related
$605,000 · Crest Svgs
—
—
Rhr Wildwood 423 LLC
—
Deed Of Trust
related
$3,950,000 · Noah Bk
—
—
Rhr Wildwood 423 LLC
—
Deed Of Trust
related
$3,650,000 · Noah Bk
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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