Entity Owned 
For Sale
1 / 14
$1,100,000
728 Asbury Ave, Ocean City, NJ 08226
View Listing →
Property summary
AI-generated overview
A mixed-use property located on Asbury Avenue in Ocean City, configured to accommodate two residential units and a ground-floor commercial component. The redevelopment plans provide for two living units totaling approximately 3,500 square feet (one unit at approximately 1,800 square feet and the other at approximately 1,700 square feet). The ground level is planned with approximately 1,600 square feet of commercial space suitable for uses such as retail or a restaurant. The design also includes a shared rooftop deck as an outdoor amenity, intended for both residents and commercial tenants, with rooftop access associated with the property.
Property profile
Verified
Property type
Other commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1925
Construction
FRAME
Total area
5,344 SF
Lot
0.07 ac (3,001 SF)
Zoning code
CB1
APN
08 00708-0000-00016
UPID
US59-1193672
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
-
Counselor
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.03M
CAP Approach
CAP
$735k
Comparable Approach
Comparable
$1.04M
Blend (final)
Blend
$830k
Owner & transaction history
since 2026
Last sale
$675,000
4 recorded transactions
Zoning & alternative use
CB1 · Ocean City, 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.
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
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional Plan · 30 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$830k
Value range
$747k – $913k
±10% around blend
Estimated value / SF
$155 / SF
Confidence
High
5 county-verified comps
Property data
100
Market benchmarks
100
Comparable evidence
50
Income certainty
100
$747k
blend $830k
$913k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
5,344 SF
Lot area
0.07 ac
Year built
1925
Stories
2
APN
08 00708-0000-00016
Zoning
CB1
Assessed value
$574,200
Annual tax
$5,909
3
Income approach: direct capitalization
Partial preview
Income approach indication
$735k
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$800k
@ 6.5% CAP return
$735k
@ 7% CAP return
$685k
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
$5,909
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$493k
Weighted, 5 comps · high confidence
Evidence
5 found · 5 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
7.8 mi away · 3,854 SF
7.9 mi away · 4,200 SF
8.0 mi away · 5,316 SF
9.6 mi away · 4,040 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$830k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 56 sales
$254
-39%
Submarket 56 sales
$254
-39%
County 249 sales
$339
-54%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $155/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
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 · 5 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
from $99/month
Overview
Selected market yield
4.40%
Selected cap rate for this other commercial real estate
Derived from the Ocean City market rent, vacancy and expense benchmarks for this use type.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 4.40%
9.0%
NOI (est.)
$74k *
Last sale · Dec 2022
$675k
* 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$1.68M
Move the market yield to see immediate price impact.
Value / SF
$314
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
3.90%4.40%4.90%
$66k
$1.70M
$1.51M
$1.36M
$74k
$1.89M
$1.68M
$1.51M
$81k
$2.08M
$1.85M
$1.66M
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
$625k
3.0 mi · Jan 2026 · $107/SF
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$5,909
Tax year 2022
Assessed value
$574,200
Assessed 2023
Previous assessed
$574,200
+0.0% YoY
Effective rate
1.03%
On assessed value
Assessed land
$285,000
Assessed improvement
$289,200
Land market value
$285,000
Improvement market value
$289,200
Total market value
$574,200
Applied tax rate
8.0000
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
1925
Construction
FRAME
Heating
NONE
Stories
2
Units
1
Total area
5,344 SF
Lot
0.07 ac (3,001 SF)
Zoning code
CB1
APN
08 00708-0000-00016
UPID
US59-1193672
Jurisdiction
CAPE MAY
Zoning & alternative use
CB1 · Ocean City, NJZoning CB1 · permitted uses
CB1 · Ocean City, 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
1925
Construction
FRAME
Heating
NONE
Stories
2
Units
1
Lot
0.07 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
CB1
Jurisdiction
Ocean City, NJ
Recorded code
CB1
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for CB1 in Ocean City, 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.
One complete report on every paid plan · 30 · 300 reports per month.
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.
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?”
Get access to Data & Analytics
Choose membership plan that suits your needs
Unlock Full Report
$9
one-time
Single Property Report
Full report includes
- Full Property Data
- Historical Records
- Value Estimation
- NOI Potential
- Cap Rate Calculation
- Ownership
- Location Insight
- Alternative use
- Local Zoning Insight
MOST POPULAR
Professional Plan
$99
/mo
30 property reports a month.
Cancel anytime.
Cancel anytime.
Your membership includes
- 30 reports a month
- Location Analytics
- Market Trends
- Full Property Data
- Historical Records
- Value Estimation
- NOI Potential
- Cap Rate Calculation
- Ownership
- Location Insight
- Alternative use
- Local Zoning Insight
Enterprise Plan
$299
/mo
300 property reports a month.
Cancel anytime.
Cancel anytime.
Your membership includes
- 300 reports a month
- Location Analytics
- Market Trends
- Full Property Data
- Historical Records
- Value Estimation
- NOI Potential
- Cap Rate Calculation
- Ownership
- Location Insight
- Alternative use
- Local Zoning Insight
Unlock Light Report
Free
Confirm your email
and get 1 Light Report
and get 1 Light Report
Light report includes
- Property Information
- Historical Records
- Value Estimation
- NOI Potential
- Cap Rate Potential
- Location Insight
- Alternative use
- Local Zoning Insight
Confirm your e-mail to get the report
