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Property profile & analytics
OFF-MARKET
Estimated value
$4,410,000
Commercial real estate
931 Ocean Ave Sea Bright, NJ 07760-2120
Individually Owned
9-yr Hold
Free & Clear
Property ID
US59-2143222
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Construction
FRAME
Total area
21,330 SF
Lot
3.93 ac (171,000 SF)
Zoning code
B-3
APN
42 00023-0000-00012
UPID
US59-2143222
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
$4.43M
Comparable Approach
Comparable
$6.02M
Blend (final)
Blend
$4.41M
Owner & transaction history
Sea Bright Boro · 9 yrs held
Sea Bright Boro
since 2017
2 recorded transactions
Zoning & alternative use
B-3 · Sea Bright, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
B-3 Zone: specific intent and purposes. The B-3 Oceanfront Business Zone is designed to provide for the use and development of properties for uses oriented to ocean beach activities, especially swimming and sunning. However, the Council recognizes the threat to security of this zone and the frequency of flooding and damages to this area as a result of sea wa…
Zone name
Oceanfront Business
General category
COMMERCIAL
Zone area
48.37 ac
Top alternative use upside
Apartment house (5+ units)
$5.6M
+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%
$4,800,000
6.5%
$4,430,000
7%
$4,115,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$5,530,000
Current use
APARTMENT HOUSE (5+ UNITS)
$5,640,000
Change: +2% · Conversion: Moderate
OFFICE BUILDING
$5,260,000
Change: -5% · Conversion: Easy
Blend value · Realmo final
$4.41M
Range $3.97M – $4.85M · ±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
$207 / 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
$82,739
Tax year 2022
Assessed value
$7,650,000
Assessed 2023
Previous assessed
$7,650,000
+0.0% YoY
Effective rate
1.08%
On assessed value
Assessed land
$6,376,000
Assessed improvement
$1,274,000
Land market value
$6,376,000
Improvement market value
$1,274,000
Total market value
$7,650,000
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
Construction
FRAME
Heating
NONE
Buildings
1
Stories
1
Total area
21,330 SF
Lot
3.93 ac (171,000 SF)
Zoning code
B-3
APN
42 00023-0000-00012
UPID
US59-2143222
Jurisdiction
MONMOUTH
Metro division
EDISON, NJ METROPOLITAN DIVISION
Zoning & alternative use
B-3 · Sea Bright, NJZoning B-3 · permitted uses
B-3 · Sea Bright, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
B-3 Zone: specific intent and purposes. The B-3 Oceanfront Business Zone is designed to provide for the use and development of properties for uses oriented to ocean beach activities, especially swimming and sunning. However, the Council recognizes the threat to security of this zone and the frequency of flooding and damages to this area as a result of sea water. Therefore, with due regard to the safety of persons and structures thereon, no building whatsoever shall be erected between the sea wall and the Atlantic Ocean in the B-3 Zone for any purpose. CP Zone: Specific intent and purposes. The CP Coastal Protection Zone is a special zone covering a very narrow strip of land between Ocean Avenue and the Atlantic Ocean, shown on the Zoning Map. The purpose of this zone is to recognize the threat to security and frequency of flooding and damage to this area as a result of sea water. It is designed to provide the highest and best use of said land with due regard for safety of persons and structures thereon.
Zone name
Oceanfront Business
General category
COMMERCIAL
Zone area
48.37 ac
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$5.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$5.6M
OFFICE BUILDING
Est. value
$5.3M
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
Construction
FRAME
Heating
NONE
Stories
1
Buildings
1
Lot
3.93 ac
Current owner
From public records · entity-resolved
Sea Bright Boro
Individual
Free & Clear · 9 yrs held
Mailing address
931 OCEAN AVE, SEA BRIGHT, NJ 07760-2120
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 7, 2017
—
Sea Bright Boro
Surfrider Beach Club LLC
Grant Deed
related
—
Nov 19, 2012
$3,400,000
Surfrider Beach Club LLC
D Lobi Ents INC
Grant Deed
$3,390,000 · D Lobi Ents INC
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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