Entity Owned 
For Sale
1 / 21
$725,000
688 E Bay Ave, Barnegat, NJ 08005
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Property summary
AI-generated overview
A 2,816-square-foot restaurant property on a 0.22-acre lot, previously operated as a 70-seat dining establishment with an on-site ice cream parlor and a classic walk-up ice cream bar featuring an exterior window. The interior includes vintage woodwork and customer dining areas designed for breakfast, lunch, and dinner service. Food service infrastructure consists of a fully equipped, high-volume commercial kitchen, along with well-maintained back-of-house facilities. The layout provides two customer bathrooms, a separate office with a full bathroom located off the rear of the building, and basement storage plus rear shed storage. Exterior amenities include sidewalk and outdoor seating and an exterior fixed refrigeration trailer. The property includes equipment and small wares and a 3-terminal Toast POS system, and is located near Barnegat Bay beach and a public dock, with positioning in a high-traffic area.
Property profile
Verified
Property type
Other commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1920
Total area
2,816 SF
Lot
0.22 ac (9,723 SF)
Zoning code
CVH
APN
01 00250-0000-00024
UPID
US59-0551212
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Restaurant
-
Take-out & Catering Catering Service
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$515k
CAP Approach
CAP
$500k
Comparable Approach
Comparable
$332k
Blend (final)
Blend
$505k
Owner & transaction history
since 2023
Last sale
$500,000
2 recorded transactions
Zoning & alternative use
CVH · Barnegat, NJ
Top alternative use upside
Office building
$670,000
+47.3%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 16 comparables with addresses
2 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$505k
Value range
$455k – $556k
±10% around blend
Estimated value / SF
$179 / SF
Confidence
High
16 county-verified comps
Property data
100
Market benchmarks
100
Comparable evidence
100
Income certainty
100
$455k
blend $505k
$556k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
2,816 SF
Lot area
0.22 ac
Year built
1920
Stories
1
APN
01 00250-0000-00024
Zoning
CVH
Assessed value
$330,500
Annual tax
$9,310
3
Income approach: direct capitalization
Partial preview
Income approach indication
$500k
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$540k
@ 6.5% CAP return
$500k
@ 7% CAP return
$465k
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$9,310
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$752k
Weighted, 16 comps · high confidence
Evidence
16 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
12.4 mi away · 2,184 SF
13.2 mi away · 2,016 SF
13.7 mi away · 3,364 SF
14.3 mi away · 2,580 SF
14.5 mi away · 2,738 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$505k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 23 sales
$161
+11%
Submarket 23 sales
$161
+11%
County 852 sales
$288
-38%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $179/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Office Building
Gross theoretical uplift
+47%
vs current-use indication
Commercial (general) · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 16 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
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Overview
Selected market yield
6.40%
Selected cap rate for this other commercial real estate
Derived from the Barnegat market rent, vacancy and expense benchmarks for this use type.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 6.40%
9.0%
NOI (est.)
$43k *
Last sale · Mar 2023
$500k
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$673k
Move the market yield to see immediate price impact.
Value / SF
$239
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.90%6.40%6.90%
$39k
$657k
$606k
$562k
$43k
$730k
$673k
$624k
$47k
$803k
$740k
$687k
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
16 found
High confidence · county-verified
Closest comparable
$882k
4.0 mi · Nov 2025 · $294/SF
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$9,310
Tax year 2022
Assessed value
$330,500
Assessed 2023
Previous assessed
$330,500
+0.0% YoY
Effective rate
2.82%
On assessed value
Assessed land
$99,500
Assessed improvement
$231,000
Land market value
$99,500
Improvement market value
$231,000
Total market value
$330,500
Applied tax rate
1.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Other commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
For Sale
Year built
1920
Heating
NONE
Stories
1
Units
1
Total area
2,816 SF
Lot
0.22 ac (9,723 SF)
Zoning code
CVH
APN
01 00250-0000-00024
UPID
US59-0551212
Jurisdiction
OCEAN
Metro division
EDISON, NJ METROPOLITAN DIVISION
Zoning & alternative use
CVH · Barnegat, NJZoning CVH · permitted uses
CVH · Barnegat, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1920
Heating
NONE
Stories
1
Units
1
Lot
0.22 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
CVH
Jurisdiction
Barnegat, NJ
Recorded code
CVH
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for CVH in Barnegat, NJ.
What opens after registration
Zoning profile
3 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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