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

    516 Bay Aveunit3 Point Pleasant Boro, NJ 08742-2554

    • Office Properties & Spaces
    • 1,960 SF
    • 0.05 lot acres
    OFF-MARKET
    Last Sale
    Jan 24, 2022
    $1,300,000
    Value Estimations
    $1,390,000
    Show details
    Cap Rate Potential
    2.1%
    Office Properties & Spaces
    Location Intelligence
    Property ID
    US59-0147924
    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

    • Jeannette C. Kellington, Esq. / Attorney
    • the holistic center in point pleasant / Alternative Medicine Practitioner
    • Natural Beauty Hair Salon / Hair Salon
    • Cheryl A. Daniel, LCSW / Doctor / Social Worker
    • Art McGrath Counseling / Counselor

    Property Details for 516 Bay Aveunit3

    Lot size
    0.05 lot acres
    Property size
    1,960 SF
    Zone code
    GC
    Property type
    Office Properties & Spaces
    APN
    26 00090-0000-00012-0000-C0003
    APU
    26000900000000120000C0003

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,520,000
      ML approach
      $1,445,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Point Pleasant Boro
    County
    Ocean
    State
    New Jersey
    Longitude
    -74.0515
    Latitude
    40.091
    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
    2023
    $4,931
    $225,000
    $71,000
    $296,000
    -
    $225,000
    $71,000
    $296,000

    Comparable in this City

    • Value Estimation by Request
      1,176 SF

      2911 Rte 88th 1st Ste, Unit 1

      CONDOMINIUM OFFICES • 1,176 SF
      2911 Rte 88th 1st Ste, Point Pleasant Boro, NJ 08742-2871
      View Details
    • Value Estimation by Request
      464 SF

      1038 Rte 88th 3rd Ste, Unit 3

      CONDOMINIUM OFFICES • 464 SF
      1038 Rte 88th 3rd Ste, Point Pleasant Boro, NJ 08742-2381
      View Details
    • Value Estimation by Request
      1,372 SF

      2911 Rte 88th 7th Ste, Unit 7

      CONDOMINIUM OFFICES • 1,372 SF
      2911 Rte 88th 7th Ste, Point Pleasant Boro, NJ 08742-2871
      View Details
    • Value Estimation by Request
      918 SF

      800 Rte 88th 1st Ste, Unit 1

      CONDOMINIUM OFFICES • 918 SF
      800 Rte 88th 1st Ste, Point Pleasant Boro, NJ 08742-4085
      View Details
    • Value Estimation by Request
      1,894 SF

      2424 Brg Ave Ste, Unit 4

      CONDOMINIUM OFFICES • 1,894 SF
      2424 Brg Ave Ste, Point Pleasant Boro, NJ 08742-4324
      View Details
    • Value Estimation by Request
      1,610 SF

      800 Rte 88th 4th Ste, Unit 4

      CONDOMINIUM OFFICES • 1,610 SF
      800 Rte 88th 4th Ste, Point Pleasant Boro, NJ 08742-4085
      View Details

    Similar Nearby for Sale

    • $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
    • $799,000
      2,250 SF

      Point Pleasant Mixed-Use Property

      Mixed-use property featuring office space and a residential apartment.
      1225 Bay Ave, Point Pleasant Beach, NJ 08742
      View Details
    • $665,000
      0.17 Acres

      Point Pleasant Commercial Building

      Mint condition building suitable for various business uses.
      838 Beaver Dam Rd, Point Pleasant Beach, NJ 08742
      View Details
    • $1,750,000
      0.26 Acres

      Point Pleasant Beach Commercial Lot

      Commercial lot in Point Pleasant Beach, walking distance to waterfront.
      23 Ocean Ave, Point Pleasant Beach, NJ 08742
      View Details
    • $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
    • $130,000

      Established Restaurant Business For Sale

      Turnkey restaurant with loyal customer base in Point Pleasant, NJ.
      Point Pleasant, NJ 08742
      View Details

    Similar Nearby for Lease

    • $216 SF/Yr
      15,312 SF

      Point Pleasant Office/Warehouse Space

      1,674 SF Office/Flex/Warehouse Available
      737 Howe St, Point Pleasant, NJ 08742
      View Details
    • New
      $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 Beach, NJ 08742
      View Details
    • 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
    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.
    516 Bay Aveunit3
    Point Pleasant Boro, NJ 08742-2554
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.