Mixed-Use Property with Commissary
For Sale
$2,800,000
346 Drum Point Road, Brick, NJ 08723
COMMERCIAL - Brick, NJ
Property Size10,000 SF
Lot Size0.51 Acres
Price / SF$280
Days on Market145
Property Features for 346 Drum Point Road
General Information
Property type
Commercial Sale
Property subtype
Other
Property condition
Under Construction
Parking
16
Parking features
Parking Lot
Interior features
Internal Loading, Refrigeration
Directions
Google Maps
Subdivision
Osbornville
Standard status
Active
APN
07-00645-01-00107
Size
10,000 SF
Lot size
0.51 Acres
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Water source
Public
Building Details
Year built
2026
Floors in Building
2
Listing Agency:
J Elkon Realty LLC
(732) 813-3400
Listed By:
Julie Elkon · License #1539500
(732) 813-3400
Added: Mar 20
Changed: Aug 4
Last Checked: Aug 11 at 4:06AM
MLS# 22607308
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.
Investment Insights
Based on property information with market context.
This mixed-use property is under construction and encompasses approximately 10,000 square feet on a 22,000-square-foot lot. The layout includes two residential apartments, two commissary kitchens, additional storage, and two drive-in garage doors. Internal loading, refrigeration, forced-air heating, and a parking lot further support the property’s commercial configuration.
Located at 346 Drum Point Road in Brick, New Jersey, the property is served by public water and public sewer. Its combination of residential space and specialized kitchen areas creates a clearly defined live-work format within a single commercial property.
Located at 346 Drum Point Road in Brick, New Jersey, the property is served by public water and public sewer. Its combination of residential space and specialized kitchen areas creates a clearly defined live-work format within a single commercial property.
Key Highlights
- Approximately 10,000 square feet on a 22,000‑square‑foot lot
- Two residential apartments and two commissary kitchens
- Two drive‑in garage doors with additional storage
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$167,362
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.98%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,347,240
$3.3M
Cap Rate 7%
$2,390,886
$2.4M
Cap Rate 9%
$1,859,578
$1.9M
Market Conditions
NOI Build-Up for 10,000 SF
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.
Gross rent
$255.6K $25.56/SF
− Vacancy
−$16.5K −$1.65/SF
EGI
$239.1K $23.91/SF
− OpEx
−$71.7K −$7.17/SF
NOI
$167.4K $16.74/SF
Area
Ocean County, NJ
Vacancy
6.46%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,347,240
Cap Rate 7%
$2,390,886
Cap Rate 9%
$1,859,578
Alternative Uses
Best Use
Multifamily LT 5
$2.39M
$2.09M – $2.79M
NOI $167,362 @ 7.0% cap · market cap 5.98%
Second Best
Apartment 5plus
$2.20M
$1.92M – $2.56M
NOI $153,780 @ 7.0% cap · market cap 5.49%
Theoretical Best
Office A
$2.61M
$2.28M – $3.05M
NOI $182,784 @ 7.0% cap · market cap 6.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
799
Businesses Nearby
Explore this area
Business Placement
Demographics for 08723, NJ
31,272
Population
14,075
Households
2.2
Avg Household Size
45
Median Age
30%
College-Educated
95%
High-School Grad
12.0 sq mi
ZIP Area
2,606
Density / Sq Mi
$103,953
Median Household Income
$54,165
Median Earnings
$1,652
Median Rent
$374,400
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use configuration combines residential apartments with commercial kitchens, storage, parking, and loading functionality.
Where is this mixed-use property located?
The property is located at 346 Drum Point Road Brick, NJ.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: Approximately 10,000 square feet on a 22,000‑square‑foot lot; Two residential apartments and two commissary kitchens; Two drive‑in garage doors with additional storage
