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Property profile & analytics
OFF-MARKET
Estimated value
$545,000
Hotels
8 Ocean Ave Ocean Grove, NJ 07756-1666
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US59-0352345
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1921
Total area
7,336 SF
Lot
0.06 ac (2,432 SF)
Zoning code
HD-O
APN
35 00114-0000-00012
UPID
US59-0352345
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
-
Laingdon Hotel Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$515k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$579k
Blend (final)
Blend
$545k
Owner & transaction history
Phj LLC · 2 yrs held
Phj LLC
since 2024
5 recorded transactions
Zoning & alternative use
HD-O · Ocean Grove, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$760,000
+81.7%
Restaurant
$745,000
+77.9%
Retail stores
$740,000
+76.5%
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
$515,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$420,000
Current use
COMMERCIAL (GENERAL)
$760,000
Change: +82% · Conversion: Difficult
RESTAURANT
$745,000
Change: +78% · Conversion: Difficult
RETAIL STORES
$740,000
Change: +77% · Conversion: Difficult
WAREHOUSE, STORAGE
$670,000
Change: +60% · Conversion: Difficult
Blend value · Realmo final
$545k
Range $491k – $600k · ±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
$74 / 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
$47,683
Tax year 2022
Assessed value
$2,549,400
Assessed 2023
Previous assessed
$2,549,400
+0.0% YoY
Effective rate
1.87%
On assessed value
Assessed land
$972,000
Assessed improvement
$1,577,400
Land market value
$972,000
Improvement market value
$1,577,400
Total market value
$2,549,400
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
1921
Heating
NONE
Buildings
1
Total area
7,336 SF
Lot
0.06 ac (2,432 SF)
Zoning code
HD-O
APN
35 00114-0000-00012
UPID
US59-0352345
Jurisdiction
MONMOUTH
Metro division
EDISON, NJ METROPOLITAN DIVISION
Zoning & alternative use
HD-O · Ocean Grove, NJ
Zoning HD-O · permitted uses
HD-O · Ocean Grove, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Ocean Grove. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$420,000
COMMERCIAL (GENERAL)
Est. value
$760,000
RESTAURANT
Est. value
$745,000
RETAIL STORES
Est. value
$740,000
WAREHOUSE, STORAGE
Est. value
$670,000
HOTEL/MOTEL Current
COMMERCIAL (GENERAL)
RESTAURANT
RETAIL STORES
WAREHOUSE, STORAGE
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
1921
Heating
NONE
Buildings
1
Lot
0.06 ac
Current owner
From public records · entity-resolved
Phj LLC
Entity
Mailing address
8 OCEAN AVE, OCEAN GROVE, NJ 07756-1666
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 10, 2024
—
Phj LLC
—
Deed
related
$1,925,000 · Berkshire Bank
Jul 23, 2019
—
Phj LLC
—
Deed
related
$142,500 · Ph Construction LLC
Jul 7, 2017
—
Phj LLC
—
Deed
related
$2,018,347 · Kearny Bk
—
—
Phj LLC
—
Deed Of Trust
related
$142,500 · Ph Construction LLC
—
—
Phj LLC
—
Deed Of Trust
related
$2,018,347 · Kearny Bk
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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