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    Mixed-Use Redevelopment Opportunity Near Route 35 Title is generated by Realmo AI

    1324 Corlies Avenue, Neptune, NJ 07753

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    Claim this Listing
    For Sale
    $699,000

    MULTI_FAMILY - Neptune Township, NJ

    Property size:
    2,782 SF
    Lot size:
    0.18 Acres
    Price / SF:
    $251/SF
    Added:
    Apr 22, 2026
    Days on Market:
    48
    Last Refresh:
    Jun 8 at 1:06 pm

    Property Features for 1324 Corlies Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Rooms
    Basement
    Basement
    Partial
    Standard status
    Active
    APN
    35-00515-0000-00005
    Size
    2,782 SF
    Lot size
    0.18 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    10072

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    Building Details

    Year built
    1906
    Floors in Building
    1
    Number of units
    3
    Roof type
    Shingle

    We can help!

    Listing Contact
    Joseph Scheeler

    Listing agent Joseph Scheeler License #0562643

    Listing office Ward Wight Sotheby's International Realty 521 Cookman Avenue 101 B, Avon By The Sea, NJ

    Listing date Apr 22, 2026

    MLS# 22611293 Listing URL

    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

    • High‑visibility location near Route 35, Route 18, and the Garden State Parkway.
    • Value‑add/mixed‑use redevelopment opportunity.
    • Large rear parking lot.
    • Renovation underway with framing, partial plumbing, and electrical completed.
    • Potential for three‑family residential layout with retail/office space.
    • Close proximity to Jersey Shore University Medical Center and the beaches of Ocean Grove and Asbury Park.

    Overview

    This property presents a potential three-family value-add or mixed-use redevelopment opportunity, situated in a high-visibility location near Route 35. The prior configuration included a two-family residence with retail space on the ground level. Renovation is currently underway, featuring framing and partial plumbing and electrical work, based on a previous concept for a three-family residential layout with retail or office space on the first floor. The buyer is responsible for verifying all proposed use, zoning, permits, approvals, and compliance requirements. Construction will need to be completed. The property also includes basement storage and a large rear parking lot. Conveniently located near Route 18, the Garden State Parkway, Jersey Shore University Medical Center, and the beach areas of Ocean Grove and Asbury Park. The lot size is 0.18 acres, and the property size is 2782 square feet.

    Local Financial Insights For Apartment 5plus

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $83.5k $30.00
    − Vacancy −$5.7k −$2.04
    EGI $77.8k $27.96
    − OpEx −$35.0k −$12.58
    NOI $42.8k $15.38
    2,782 SF · lease $30.00/SF/yr · vacancy 6.80% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $611.2K
    $534.8K – $713.0K (±1% cap)
    NOI $42,782 @ 7.0% cap · market cap 6.12%
    Second Best
    Office B
    $608.1K
    $532.1K – $709.4K (±1% cap)
    NOI $42,565 @ 7.0% cap · market cap 6.09%
    Theoretical Best
    Office A
    $726.4K
    $635.6K – $847.5K (±1% cap)
    NOI $50,851 @ 7.0% cap · market cap 7.27%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Mixed-use properties

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Neptune
    County
    Monmouth
    State
    New Jersey
    Longitude
    -74.025342
    Latitude
    40.209277

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    FAQs

    What type of property is this?
    Mixed-use property - Value-add mixed-use redevelopment opportunity in high-visibility location near Route 35.
    Where is this mixed-use property located?
    The property is located at 1324 Corlies Avenue Neptune, NJ.
    What is the asking price?
    The asking price for this property is $699,000.
    What are key features of this property?
    This property features: High‑visibility location near Route 35, Route 18, and the Garden State Parkway.; Value‑add/mixed‑use redevelopment opportunity.; Large rear parking lot.
    (732) 775-8500
    We can help!
    Listing Contact
    Joseph Scheeler
    Real Estate License ID: 0562643
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