Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$2,290,000
Commercial real estate
601 Ocean Ave Avon By The Sea, NJ 07717-1429
Individually Owned
~
Est. High Equity
Property ID
US59-1571754
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1883
Total area
10,925 SF
Lot
0.57 ac (24,613 SF)
Zoning code
R
APN
06 00021-0000-00016
UPID
US59-1571754
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
Current use
Occupant on record · Public records
-
The Columns Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.27M
Comparable Approach
Comparable
$2.09M
Blend (final)
Blend
$2.29M
Owner & transaction history
John Shenin
John Shenin
2 recorded transactions
Zoning & alternative use
R · Avon By The Sea, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
Districts Enumerated. § 113-7 Zoning Map. § 113-8 Interpretation of Boundaries. § 113-9 Division of a Lot in Single Ownership. Article IV District Zoning Regulations § 113-10 Regulations Applying to All Zones. § 113-11 R - Single-Family Residential District § 113-11.1 R Single-Family Residential District - Development process. § 113-12 GC - General Commercia…
Zone name
Single Family Residential
General category
RESIDENTIAL
Zone area
219.93 ac
Top alternative use upside
Apartment house (5+ units)
$2.9M
+1.9%
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 Avon By The Sea submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Avon By The Sea 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%
$2,460,000
6.5%
$2,270,000
7%
$2,105,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$2,835,000
Current use
APARTMENT HOUSE (5+ UNITS)
$2,885,000
Change: +2% · Conversion: Moderate
OFFICE BUILDING
$2,695,000
Change: -5% · Conversion: Easy
Blend value · Realmo final
$2.29M
Range $2.06M – $2.52M · ±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
$210 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$35,069
Tax year 2023
Assessed value
$4,111,200
Assessed 2024
Previous assessed
$4,111,200
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$2,513,700
Assessed improvement
$1,597,500
Land market value
$2,513,700
Improvement market value
$1,597,500
Total market value
$4,111,200
Applied tax rate
6.0000
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
1883
Heating
NONE
Buildings
1
Total area
10,925 SF
Lot
0.57 ac (24,613 SF)
Zoning code
R
APN
06 00021-0000-00016
UPID
US59-1571754
Jurisdiction
MONMOUTH
Metro division
EDISON, NJ METROPOLITAN DIVISION
Zoning & alternative use
R · Avon By The Sea, NJZoning R · permitted uses
R · Avon By The Sea, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
Districts Enumerated. § 113-7 Zoning Map. § 113-8 Interpretation of Boundaries. § 113-9 Division of a Lot in Single Ownership. Article IV District Zoning Regulations § 113-10 Regulations Applying to All Zones. § 113-11 R - Single-Family Residential District § 113-11.1 R Single-Family Residential District - Development process. § 113-12 GC - General Commercial District. § 113-13 M-O/R - Mixed Office/Residential District § 113-14 DC - Dow
Zone name
Single Family Residential
General category
RESIDENTIAL
Zone area
219.93 ac
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$2.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.9M
OFFICE BUILDING
Est. value
$2.7M
COMMERCIAL (GENERAL) Current
APARTMENT HOUSE (5+ UNITS)
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
Year built
1883
Heating
NONE
Buildings
1
Lot
0.57 ac
Current owner
From public records · entity-resolved
John Shenin
Individual
Mailing address
PO BOX 197, SPRING LAKE, NJ 07762-0197
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
—
—
John Shenin
—
Deed Of Trust
related
$370,000 · Bank Of America
—
—
John W Shenin
—
Deed Of Trust
related
$183,000 · Fleet National Bank
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 601 Ocean Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
