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Property profile & analytics
OFF-MARKET
Estimated value
$540,000
Commercial real estate
78 Main Ave Ocean Grove, NJ 07756-1319
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US59-3146360
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1871
Total area
3,360 SF
Lot
0.04 ac (1,920 SF)
Zoning code
HDB1
APN
35 00208-0000-00001
UPID
US59-3146360
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
-
James J. Pentz, Realtors Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$335k
CAP Approach
CAP
$700k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$540k
Owner & transaction history
Follow Our Lead LLC · 2 yrs held
Follow Our Lead LLC
since 2024
3 recorded transactions
Zoning & alternative use
HDB1 · Ocean Grove, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Ocean Grove submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ocean Grove 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
$335,000
CAP Approach
CAP Return
Estimation
6%
$755,000
6.5%
$700,000
7%
$650,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$870,000
Current use
OFFICE BUILDING
$830,000
Change: -5% · Conversion: Easy
Blend value · Realmo final
$540k
Range $486k – $594k · ±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
$161 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$9,264
Tax year 2022
Assessed value
$843,800
Assessed 2023
Previous assessed
$843,800
+0.0% YoY
Effective rate
1.10%
On assessed value
Assessed land
$575,800
Assessed improvement
$268,000
Land market value
$575,800
Improvement market value
$268,000
Total market value
$843,800
Applied tax rate
35.0000
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
1871
Heating
NONE
Buildings
1
Stories
3
Total area
3,360 SF
Lot
0.04 ac (1,920 SF)
Zoning code
HDB1
APN
35 00208-0000-00001
UPID
US59-3146360
Jurisdiction
MONMOUTH
Metro division
EDISON, NJ METROPOLITAN DIVISION
Zoning & alternative use
HDB1 · Ocean Grove, NJZoning HDB1 · permitted uses
HDB1 · Ocean Grove, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$870,000
OFFICE BUILDING
Est. value
$830,000
COMMERCIAL (GENERAL) Current
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
1871
Heating
NONE
Stories
3
Buildings
1
Lot
0.04 ac
Current owner
From public records · entity-resolved
Follow Our Lead LLC
Entity
Mailing address
78 MAIN AVE, OCEAN GROVE, NJ 07756-1319
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 1, 2024
—
Follow Our Lead LLC
Joseph James Pentz
Assignment Of Lease (leasehold Sale)
—
Mar 22, 2006
$300,000
1429 6th Avenue LLC
Richman,ronald
Grant Deed
—
—
—
1429 6th Avenue LLC
—
Deed Of Trust
related
$200,000 · Two River Community 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.
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