Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Mixed-Use Property in Highlands, NJ Title is generated by Realmo AI

    111 Bay Avenue, Highlands, NJ 07732

    View on Map
    Claim this Listing
    New
    For Sale
    $799,000

    COMMERCIAL - Highlands, NJ

    Added:
    May 27, 2026
    Days on Market:
    4
    Last Refresh:
    May 30 at 4:06 pm

    Property Features for 111 Bay Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Rooms
    Basement
    Parking features
    On Street
    Exterior features
    Lighting
    Fencing
    Fenced
    Basement
    Partial
    Standard status
    Active
    APN
    19-00046-0000-00002

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    6920

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Baseboard
    Water source
    Public

    Building Details

    Floors in Building
    2
    Flooring type
    Wood, Vinyl
    Building materials
    Clapboard

    We can help!

    Listing Contact
    Ryan Britton

    Listing agent Ryan Britton

    Listing office Resources Real Estate 141 First Ave., Rumson, NJ

    Listing date May 27, 2026

    MLS# 22615652

    Copyright © 2026 More MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Mixed‑use property with commercial space and a two‑bedroom residential unit
    • Located in the desirable Highlands redevelopment zone
    • Potentially subdividable rear lot for future development
    • Investment opportunity for investors and owner‑occupants
    • Fenced property with on‑street parking
    • Wood and vinyl flooring

    Overview

    This mixed-use property is located in the Highlands redevelopment zone. It features commercial space in the front and a two-bedroom residential unit in the rear. The rear lot is potentially subdividable, offering possibilities for future development. The Highlands area is an emerging market.
    Property Profile Location Intelligence

    Current Use by Public Records

    Single family properties

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Hair Salon Building Supply Gym & Fitness Center Accounting Firm Skin Care Clinic Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Highlands
    County
    Monmouth
    State
    New Jersey
    Longitude
    -73.985207
    Latitude
    40.400084

    Nearby Similar for Sale

    • $850,000
      1,600 SF

      Updated Mixed-Use Building in Highlands

      Mixed-use building in downtown Highlands with storefront and flexible space.
      205 Bay Avenue, Highlands, NJ 07732
      View Details
    • $850,000
      1,600 SF

      Updated Mixed-Use Building Highlands

      Mixed-use building in downtown Highlands, near NYC ferry.
      205 Bay Avenue, Highlands, NJ 07732
      View Details
    • $850,000
      1,600 SF

      Updated Mixed-Use Building in Highlands

      Updated mixed-use building in vibrant downtown Highlands.
      205 Bay Avenue, Highlands, NJ 07732
      View Details
    • $850,000
      1,600 SF

      Mixed-Use Property in Redevelopment Zone

      Storefront with living space in Highlands redevelopment zone.
      205 Bay Avenue, Highlands, NJ 07732
      View Details
    • $850,000
      1,600 SF

      Highlands Mixed-Use Redevelopment Opportunity

      Storefront with living space in Highlands redevelopment zone.
      205 Bay Avenue, Highlands, NJ 07732
      View Details
    • $750,000
      3,200 SF

      Mixed-Use Property in Highlands

      Versatile property with retail space and residential income potential.
      196 Bay Avenue, Highlands, Highlands, NJ 07732
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use property with commercial space and residential unit in Highlands.
    Where is this mixed-use property located?
    The property is located at 111 Bay Avenue Highlands, NJ.
    What is the asking price?
    The asking price for this property is $799,000.
    What are key features of this property?
    This property features: Mixed‑use property with commercial space and a two‑bedroom residential unit; Located in the desirable Highlands redevelopment zone; Potentially subdividable rear lot for future development
    (732) 212-0440
    We can help!
    Listing Contact
    Ryan Britton
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    111 Bay Avenue, Highlands, NJ 07732
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!