700 Summerfield Ave Asbury Park, NJ 07712
Commercial real estate
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For Lease
1 / 40
$31 SF/Yr
700 Summerfield Ave, Asbury Park, NJ 07712
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Estimated value (blended)
$320k
Range $288k – $352k (±10%)
Property ID
US59-1151144
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1919
Construction
BRICK
Total area
2,450 SF
Lot
0.03 ac (1,500 SF)
Zoning code
S-25
APN
04 02506-0000-00002
UPID
US59-1151144
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$510k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$320k
Owner & transaction history
since 2026
Last sale
$725,000
2 recorded transactions
Zoning & alternative use
S-25 · Asbury Park, NJ
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.
17% off on annual
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 5 comparables with addresses
2 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
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Summary
1
Valuation conclusion
Included free
Estimated market value
$320k
Value range
$288k – $352k
±10% around blend
Estimated value / SF
$131 / SF
Confidence
High
5 county-verified comps
Property data
88
Market benchmarks
100
Comparable evidence
50
Income certainty
100
$288k
blend $320k
$352k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
2,450 SF
Lot area
0.03 ac
Year built
1919
Stories
2
APN
04 02506-0000-00002
Assessed value
$616,200
Annual tax
$9,566
3
Income approach: direct capitalization
Partial preview
Income approach indication
$510k
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$550k
@ 6.5% CAP return
$510k
@ 7% CAP return
$475k
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
$9,566
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$880k
Weighted, 5 comps · high confidence
Evidence
5 found · 5 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
0.9 mi away · 2,464 SF
1.4 mi away · 2,070 SF
1.5 mi away · 1,844 SF
2.6 mi away · 2,200 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$320k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 69 sales
$255
-49%
Submarket 252 sales
$293
-55%
County 1093 sales
$259
-50%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $131/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Modeled
Market rent
Market benchmark
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
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.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 5 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
Selected market yield
123,387.10%
Selected cap rate for this commercial real estate
Derived from the Asbury Park market rent, vacancy and expense benchmarks for this use type.
NOI (est.)
$38k *
Last sale · Feb 2026
$725k
* 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$30
Move the market yield to see immediate price impact.
Value / SF
$0
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
123,386.60%123,387.10%123,387.60%
$34k
$27
$27
$27
$38k
$31
$30
$30
$42k
$34
$34
$34
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
5 found
High confidence · county-verified
Closest comparable
$800k
0.5 mi · Mar 2026 · $309/SF
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$9,566
Tax year 2022
Assessed value
$616,200
Assessed 2023
Previous assessed
$616,200
+0.0% YoY
Effective rate
1.55%
On assessed value
Assessed land
$303,600
Assessed improvement
$312,600
Land market value
$303,600
Improvement market value
$312,600
Total market value
$616,200
Applied tax rate
4.0000
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
For Lease
Year built
1919
Construction
BRICK
Heating
NONE
Buildings
1
Stories
2
Units
1
Total area
2,450 SF
Lot
0.03 ac (1,500 SF)
Zoning code
S-25
APN
04 02506-0000-00002
UPID
US59-1151144
Jurisdiction
MONMOUTH
Metro division
EDISON, NJ METROPOLITAN DIVISION
Zoning & alternative use
S-25 · Asbury Park, NJZoning S-25 · permitted uses
S-25 · Asbury Park, 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
1919
Construction
BRICK
Heating
NONE
Stories
2
Buildings
1
Units
1
Lot
0.03 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
S-25
Jurisdiction
Asbury Park, NJ
Recorded code
S-25
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for S-25 in Asbury Park, 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.
Registration is required before the official district profile is shown.
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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 · 5 · 30 · 100 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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