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Property profile & analytics
OFF-MARKET
Estimated value
$1,120,000
Commercial real estate
456 Bay Ave Manahawkin, NJ 08050
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US59-1316141
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Total area
4,800 SF
Lot
3.06 ac (133,294 SF)
Zoning code
MU/P
APN
31 00229-0000-00030
UPID
US59-1316141
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
$1.16M
CAP Approach
CAP
$855k
Comparable Approach
Comparable
$726k
Blend (final)
Blend
$1.12M
Owner & transaction history
Bunny Rabbits LLC · 3 yrs held
Bunny Rabbits LLC
since 2023
Last sale
$1.1M
3 recorded transactions
Zoning & alternative use
MU/P · Manahawkin, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.1M
+11.4%
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 Manahawkin submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Manahawkin 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
$1,110,000
ML approach
$1,160,000
CAP Approach
CAP Return
Estimation
6%
$925,000
6.5%
$855,000
7%
$790,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,025,000
Current use
OFFICE BUILDING
$1,140,000
Change: +11% · Conversion: Easy
Blend value · Realmo final
$1.12M
Range $1.01M – $1.23M · ±10% · vs last sale $1.10M (Feb 1 2023)
Last sale anchor
$1.10M
Feb 1 2023
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
$233 / 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
$9,477
Tax year 2022
Assessed value
$402,600
Assessed 2023
Previous assessed
$402,600
+0.0% YoY
Effective rate
2.35%
On assessed value
Assessed land
$261,200
Assessed improvement
$141,400
Land market value
$261,200
Improvement market value
$141,400
Total market value
$402,600
Applied tax rate
31.0000
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
Heating
NONE
Stories
1
Units
1
Total area
4,800 SF
Lot
3.06 ac (133,294 SF)
Zoning code
MU/P
APN
31 00229-0000-00030
UPID
US59-1316141
Jurisdiction
OCEAN
Metro division
EDISON, NJ METROPOLITAN DIVISION
Zoning & alternative use
MU/P · Manahawkin, NJZoning MU/P · permitted uses
MU/P · Manahawkin, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$1.0M
OFFICE BUILDING
Est. value
$1.1M
COMMERCIAL (GENERAL) Current
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Heating
NONE
Stories
1
Units
1
Lot
3.06 ac
Current owner
From public records · entity-resolved
Bunny Rabbits LLC
Entity
Mailing address
508 E BAY AVE, MANAHAWKIN, NJ 08050-3325
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 1, 2023
$1,100,000
Bunny Rabbits LLC
Four Sixty Bay LLC
Deed
$1,139,000 · Magyar Bank
Dec 29, 2022
—
Four Sixty Bay LLC
Vitaly Kapelnikov
Deed
—
Dec 6, 2021
$595,000
Vitaly Kapelnikov
Edith K Schneider
Deed
—
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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