Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$2,970,000
Commercial real estate
816 Ocean Ave Sea Bright, NJ 07760-2119
Entity Owned
11-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US59-1442383
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
2000
Construction
TYPE NOT SPECIFIED
Total area
14,755 SF
Lot
0.83 ac (36,000 SF)
Zoning code
R-2
APN
42 00024-0000-00016
UPID
US59-1442383
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
-
Isalis (Bike/Boat/Book/etc) Store
-
Party City Party Supply Store (Bike/Boat/Book/etc) Store
-
Skunk Funk Big Box & Wholesale Store
-
Carl's Trading Co Hat Shop
-
Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.07M
Comparable Approach
Comparable
$4.00M
Blend (final)
Blend
$2.97M
Owner & transaction history
Jersey Ctrl Power & Light Co · 11 yrs held
Jersey Ctrl Power & Light Co
since 2014
7 recorded transactions
Zoning & alternative use
R-2 · Sea Bright, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
ap are hereby categorized into the kinds of districts as listed below according to the principal intent of each of the various zones as set forth subsequently in this section: Residential districts. R-1 Residence Zones. R-2 Residence Zones. R-3 Downtown Residence Zone. R-4 Multifamily Housing. Business districts. B-1 Central Business District. B-2 Riverfront…
Zone name
Residential
General category
RESIDENTIAL
Zone area
79.67 ac
Top alternative use upside
Apartment house (5+ units)
$3.9M
+1.9%
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 Sea Bright submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Sea Bright 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
by Request
CAP Approach
CAP Return
Estimation
6%
$3,320,000
6.5%
$3,065,000
7%
$2,845,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$3,825,000
Current use
APARTMENT HOUSE (5+ UNITS)
$3,900,000
Change: +2% · Conversion: Moderate
OFFICE BUILDING
$3,640,000
Change: -5% · Conversion: Easy
Blend value · Realmo final
$2.97M
Range $2.67M – $3.27M · ±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
$201 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$47,294
Tax year 2023
Assessed value
$5,090,000
Assessed 2024
Previous assessed
$5,090,000
+0.0% YoY
Effective rate
0.93%
On assessed value
Assessed land
$2,828,200
Assessed improvement
$2,261,800
Land market value
$2,828,200
Improvement market value
$2,261,800
Total market value
$5,090,000
Applied tax rate
42.0000
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
2000
Construction
TYPE NOT SPECIFIED
Heating
NONE
Buildings
1
Stories
2
Total area
14,755 SF
Lot
0.83 ac (36,000 SF)
Zoning code
R-2
APN
42 00024-0000-00016
UPID
US59-1442383
Jurisdiction
MONMOUTH
Metro division
EDISON, NJ METROPOLITAN DIVISION
Zoning & alternative use
R-2 · Sea Bright, NJZoning R-2 · permitted uses
R-2 · Sea Bright, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
ap are hereby categorized into the kinds of districts as listed below according to the principal intent of each of the various zones as set forth subsequently in this section: Residential districts. R-1 Residence Zones. R-2 Residence Zones. R-3 Downtown Residence Zone. R-4 Multifamily Housing. Business districts. B-1 Central Business District. B-2 Riverfront Business District. B-3 Oceanfront Business District. Coastal Protection District.
Zone name
Residential
General category
RESIDENTIAL
Zone area
79.67 ac
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$3.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.9M
OFFICE BUILDING
Est. value
$3.6M
COMMERCIAL (GENERAL) Current
APARTMENT HOUSE (5+ UNITS)
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
2000
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
2
Buildings
1
Lot
0.83 ac
Current owner
From public records · entity-resolved
Jersey Ctrl Power & Light Co
Entity
Mailing address
26 BROAD ST FL, RED BANK, NJ 07701-1948
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 3, 2014
—
Jersey Ctrl Power & Light Co
Shrewsbury River Assn
Grant Deed
related
—
Jul 29, 2014
—
New Jersey State Dept Of Ep
Mcloone Management INC
Grant Deed
related
—
Aug 23, 2007
—
Shrewsbury River Associates
—
Deed Of Trust
related
$4,400,000 · Wachovia Bank NA
—
—
Shrewsbury River Associates LP
—
Deed Of Trust
related
$4,116,839 · Community Dev Corp
—
—
Shrewsbury River Assocs|tme INC Etal
—
Deed Of Trust
related
$4,500,000 · Investors Bk
—
—
Shrewsbury River INC
—
Loan Modification, Consolidation And Extension
related
$4,913,805 · Community Dev Corp
—
—
Shrewsbury River Assocs
—
Deed Of Trust
related
$4,300,000 · Kearny Fsb
—
—
Shrewsbury River Associates
—
Deed Of Trust
related
$400,000 · Lpm Investors LLC
—
—
Shrewsbury River Assocs
—
Deed Of Trust
related
$200,000 · Kearny Fsb
—
—
Shrewsbury River Associates
—
Deed Of Trust
related
$500,000 · Two River Community Bank
—
—
Shrewsbury River Associates
—
Deed Of Trust
related
$1,000,000 · Commerce Bank NA
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.
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?”
You own 816 Ocean Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
