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Property profile & analytics
OFF-MARKET
Commercial real estate
903 Bay Ave, Ocean City, NJ 08226-3455
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US59-3117353
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Construction
FRAME
Lot
0.24 ac (10,350 SF)
Zoning code
OB
APN
08 00908-0000-00014
UPID
US59-3117353
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
-
Jim Murray, Realtor | Listing Expert -Ocean City, NJ Real Estate Agency
-
The Murray Team Real Estate Agency
-
Stefanie Amber Reis - Keller Williams Realty Jersey Shore Real Estate Agency
-
Jay Cronce Real Estate Agency
-
Joe Jauss ( Realtor) Ocean City, NJ Real Estate Sales and New Construction Specialist. Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
903 Bay Partners LLC · 9 yrs held
903 Bay Partners LLC
since 2016
7 recorded transactions
Zoning & alternative use
OB · Ocean City, 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 City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ocean City 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$15,245
Tax year 2022
Assessed value
$1,481,500
Assessed 2023
Previous assessed
$1,481,500
+0.0% YoY
Effective rate
1.03%
On assessed value
Assessed land
$497,300
Assessed improvement
$984,200
Land market value
$497,300
Improvement market value
$984,200
Total market value
$1,481,500
Applied tax rate
8.0000
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
Construction
FRAME
Heating
NONE
Stories
3
Units
1
Lot
0.24 ac (10,350 SF)
Zoning code
OB
APN
08 00908-0000-00014
UPID
US59-3117353
Jurisdiction
CAPE MAY
Zoning & alternative use
OB · Ocean City, NJ
Zoning OB · permitted uses
OB · Ocean City, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Ocean City. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Construction
FRAME
Heating
NONE
Stories
3
Units
1
Lot
0.24 ac
Current owner
From public records · entity-resolved
903 Bay Partners LLC
Entity
Mailing address
5501 NEW JERSEY AVE, WILDWOOD CREST, NJ 08260-1311
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 11, 2022
—
903 Bay Partners LLC
—
Deed
related
$1,475,000 · Lakeland Bank
Sep 20, 2019
—
903 Bay Partners LLC
—
Deed
related
$1,765,000 · Republic Bk
Oct 12, 2016
$500,000
903 Bay Partners LLC
903 Bay Ave Ocean City LLC
Grant Deed
related
$400,000 · 903 Bay Ave Ocean City LLC
Jul 10, 2008
—
903 Bay Ave Ocean City LLC
—
Grant Deed
related
$145,000,000 · Bank Of America California NA
Feb 14, 2005
$545,640
Lehigh Gas Corp
Exxon Mobil Corp
Grant Deed
—
—
—
903 Bay Partners LLC
—
Deed Of Trust
related
$1,765,000 · Republic Bk
—
—
903 Bay Ave Ocean City LLC
—
Deed Of Trust
related
$75,000 · Silver Pt Fin
—
—
903 Bay Ave Ocean City LLC
—
Deed Of Trust
related
$250,000 · Key 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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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