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

    701 Cookman Ave Asbury Park, NJ 07712-7048

    • Commercial real estate
    • 6,072 SF
    • 0.05 lot acres
    OFF-MARKET
    Value Estimations
    $1,115,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US59-1675123
    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

    • Commercial real estate

    Property Details for 701 Cookman Ave

    Year built
    1900
    Construction
    BRICK
    Lot size
    0.05 lot acres
    Property size
    6,072 SF
    Zone code
    CARC
    Property type
    Commercial real estate
    APN
    04 02402-0000-00007
    APU
    402402000000007

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,365,000
      6.5%
      $1,260,000
      7%
      $1,170,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $730,000
      Market price range: $263k - $888k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,550,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $1,605,000
      Change: +4% Conversion: Moderate
      OFFICE BUILDING
      $1,495,000
      Change: -3% Conversion: Easy
      INDUSTRIAL (GENERAL)
      $1,250,000
      Change: -19% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Asbury Park
    County
    Monmouth
    State
    New Jersey
    Longitude
    -74.0122
    Latitude
    40.2159
    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
    $21,615
    $427,500
    $979,100
    $1,406,600
    -
    $427,500
    $979,100
    $1,406,600

    Comparable in this City

    • Value Estimation by Request
      0.55 Acres

      1100 Ocean Ave

      COMMERCIAL (GENERAL) • 0.55 Acres
      1100 Ocean Ave, Asbury Park, NJ 07712-5690
      View Details
    • Value Estimation by Request
      0.27 Acres

      1021 State Rte 35

      COMMERCIAL (GENERAL) • 0.27 Acres
      1021 State Rte 35, Ocean, NJ 07712-4048
      View Details
    • Value Estimation by Request
      1.01 Acres

      3437 Sunset Ave

      COMMERCIAL (GENERAL) • 1.01 Acres
      3437 Sunset Ave, Asbury Park, NJ 07712
      View Details
    • Value Estimation
      $1,645,000
      12,586 SF

      1300 State Rte 35th Rear Rear

      COMMERCIAL (GENERAL) • 12,586 SF
      1300 State Rte 35th Rear Rear, Ocean, NJ 07712-3537
      View Details
    • Value Estimation
      $700,000
      3,516 SF

      311 6th Ave

      COMMERCIAL (GENERAL) • 3,516 SF
      311 6th Ave, Asbury Park, NJ 07712-5514
      View Details
    • Value Estimation
      $620,000
      4,532 SF

      1221 Asbury Ave

      COMMERCIAL (GENERAL) • 4,532 SF
      1221 Asbury Ave, Asbury Park, NJ 07712-5728
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,216 SF

      Prime Oakhurst Commercial Space

      Spacious 4,216 sq ft commercial building
      1025 State Route 35, Oakhurst, NJ 07712
      View Details
    • $999,000

      Ocean Township Commercial Land Plot

      7,500 SF Buildable Lot, R-1 Zoning
      0 Legal, Ocean Township, NJ 07712
      View Details
    • $95,000
      0.06 Acres

      Land in Northern Asbury Park

      Level land parcel in desirable Northern Asbury Park neighborhood.
      1407 Mattison Ave, Asbury Park, NJ 07712
      View Details
    • $799,000

      Charming Home in 55+ Community

      Remodeled home in a sought-after 55+ adult community.
      4 Magnolia Ct, Asbury Park, NJ 07712
      View Details
    • $225,000

      Established Pizzeria For Sale

      Well-established pizzeria with loyal customer base, equipment included.
      Wickapecko Dr, Asbury Park, NJ 07712
      View Details
    • $1,350,000
      3,600 SF

      Asbury Park Three-Family Home

      Spacious three-family home near beach, boardwalk, and Deal Lake.
      1702 Grand Ave, Asbury Park, NJ 07712
      View Details

    Similar Nearby for Lease

    • $600 /Mo

      Luxury Office Space Available

      Office spaces for rent in Ocean Township, excellent visibility.
      1405 35 201-7, Wanamassa, NJ 07712
      View Details
    • $3,825 /Mo

      Prime Corner Commercial Space

      Corner commercial space in Asbury Park, ready for your business.
      1400 Main St, Asbury Park, NJ 07712
      View Details
    • $1,500 /Mo
      1,982 SF

      Classic Barbershop in Prime Location

      Barbershop for rent, priced at $1500 per month.
      1225 Asbury Ave, Asbury Park, NJ 07712
      View Details
    • $28 SF/Yr
      3,357 SF

      Asbury Park Retail Space Available

      3,357 SF retail space in downtown Asbury Park.
      614 Cookman Ave Unit, Asbury Park, NJ 07712
      View Details
    • $25 SF/Yr
      1,800 SF

      Asbury Park Commercial Space

      Commercial space in downtown Asbury Park, perfect for bar/restaurant.
      614 Cookman Ave, Asbury Park, NJ 07712
      View Details
    • Contact for pricing
      11,195 SF

      Ocean Township Retail Space For Lease

      Prime 11,195 SF Retail Building in NJ
      901 Main St, Ocean Township, NJ 07712
      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.
    701 Cookman Ave
    Asbury Park, NJ 07712-7048
    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.