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Property profile & analytics
OFF-MARKET
Estimated value
$2,250,000
Commercial real estate
908 Shr Rd Somers Point, NJ 08244-2336
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US59-0054703
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1924
Construction
FRAME
Total area
13,467 SF
Lot
0.81 ac (35,190 SF)
Zoning code
HVC
APN
21 01713-0000-00022
UPID
US59-0054703
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
-
Josie Kelly's Public House Bar & Pub Nightclub
-
Somers Point Business Association Association / Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.08M
Comparable Approach
Comparable
$2.23M
Blend (final)
Blend
$2.25M
Owner & transaction history
Josephine Kelly LLC · 8 yrs held
Josephine Kelly LLC
since 2018
7 recorded transactions
Zoning & alternative use
HVC · Somers Point, 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 Somers Point submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Somers Point 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%
$3,335,000
6.5%
$3,075,000
7%
$2,855,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$2,400,000
Current use
Blend value · Realmo final
$2.25M
Range $2.03M – $2.48M · ±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
$167 / 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
$58,768
Tax year 2022
Assessed value
$1,759,000
Assessed 2023
Previous assessed
$1,759,000
+0.0% YoY
Effective rate
3.34%
On assessed value
Assessed land
$411,800
Assessed improvement
$1,347,200
Land market value
$411,800
Improvement market value
$1,347,200
Total market value
$1,759,000
Applied tax rate
21.0000
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
1924
Construction
FRAME
Heating
NONE
Stories
2
Units
1
Total area
13,467 SF
Lot
0.81 ac (35,190 SF)
Zoning code
HVC
APN
21 01713-0000-00022
UPID
US59-0054703
Jurisdiction
ATLANTIC
Zoning & alternative use
HVC · Somers Point, NJZoning HVC · permitted uses
HVC · Somers Point, 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
$2.4M
COMMERCIAL (GENERAL) Current
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
1924
Construction
FRAME
Heating
NONE
Stories
2
Units
1
Lot
0.81 ac
Current owner
From public records · entity-resolved
Josephine Kelly LLC
Entity
Mailing address
908 SHR RD, SOMERS POINT, NJ 08244-2336
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 26, 2018
$800,000
Josephine Kelly LLC
Rfb Properties Nj2 LLC
Deed
$1,350,000 · Berkshire Bank
Jun 2, 2016
$1,000
Rfb Properties Nj-2 LLC
Sheriff Of Atlantic County|sandi Pointe LLC
Trustees Deed
related
—
Jun 28, 2011
$1,200,000
Sandi Pointe Limited Liability Comp
Macs Somers Point LLC
Deed
$890,000 · Republic Bank
May 6, 2005
$1,800,000
Macs Somers Point LLC
Macs Shore Dev LLC
Grant Deed
$2,160,000 · Republic First Bank
Nov 1, 2004
$1
Macs Restaurant INC
Gregory Hotel INC
Grant Deed
$1,300,000 · Broadway National Bank
—
—
Macs Restaurant INC
—
Deed Of Trust
related
$390,000 · Republic First Bank
—
—
Macs Shore Dev LLC
—
Deed Of Trust
related
$859,000 · Raymond P Perri
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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