Building Details

Floors in Building 2

Listing Agency: RE/MAX Revolution Show Phone

Listed By: Julie L Choy · License #9696049 Show Phone

Added: Jun 5 Changed: Sep 6 Last Checked: Sep 13 at 5:06AM

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MLS# 22616859

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 4,510-square-foot mixed-use property combines commercial space with an upstairs apartment. The lower level accommodates office, storage, retail, or shop uses and includes an attached garage and two half baths. The upper level contains a two-bedroom, one-and-a-half-bath apartment. A separate large two-car garage warehouse adds further storage and work area, while two-zone heating serves the property.

Located at 451 Atlantic City Boulevard in Beachwood, the property sits near northbound Route 9 and the traffic circle, with the Garden State Parkway minutes away. On-site features include a parking lot, public water, and public sewer. The parcel encompasses 0.22 acres.

Key Highlights

• 4,510‑square‑foot mixed‑use property with commercial and residential components
• Lower level offers office, storage, retail, or shop space with attached garage and two half baths
• Upstairs apartment includes 2 bedrooms and 1.5 baths

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

$52,091

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

8.01%

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%

$1,041,820 $1.0M

Cap Rate 7%

$744,157 $744.2K

Cap Rate 9%

$578,789 $578.8K

Market Conditions

NOI Build-Up for 4,510 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

$94.7K $21.00/SF

− Vacancy

−$11.4K −$2.52/SF

EGI

$83.3K $18.48/SF

− OpEx

−$31.3K −$6.93/SF

NOI

$52.1K $11.55/SF

Area

Ocean County, NJ

Vacancy

12.00%

Lease Rate

$21.00 /SF/Yr

Expense Ratio

37.50%

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%

$1,041,820

Cap Rate 7%

$744,157

Cap Rate 9%

$578,789

Alternative Uses

Best Use

Office B

$985.8K

$862.5K – $1.15M (±1% cap)

NOI $69,003 @ 7.0% cap · market cap 10.62%

Second Best

Retail

$919.6K

$804.7K – $1.07M (±1% cap)

NOI $64,372 @ 7.0% cap · market cap 9.90%

Theoretical Best

Office A

$1.18M

$1.03M – $1.37M (±1% cap)

NOI $82,436 @ 7.0% cap · market cap 12.68%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

JCM Home Services ... Electrical Service JCM Electric LLC Electrical Service Urgent Dentist Dental Office Amazing Deals Llc Liquidator

Suggested Use

Top Pick Real Estate Agency Spa & Massage Center Parking Lot & Garage Nail Salon Skin Care Clinic Daycare Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

423

Businesses Nearby

Explore this area Business Placement

Demographics for 08722, NJ

10,859

Population

4,180

Households

2.6

Avg Household Size

38

Median Age

28%

College-Educated

94%

High-School Grad

2.8 sq mi

ZIP Area

3,878

Density / Sq Mi

$102,043

Median Household Income

$49,811

Median Earnings

$2,236

Median Rent

$307,500

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Mixed-use property - Combined commercial and residential layout with garages, parking, and public utilities.

Where is this mixed-use property located?

The property is located at 451 Atlantic City Boulevard Beachwood, NJ.

What is the asking price?

The asking price for this property is $650,000.

What are key features of this property?

This property features: 4,510‑square‑foot mixed‑use property with commercial and residential components; Lower level offers office, storage, retail, or shop space with attached garage and two half baths; Upstairs apartment includes 2 bedrooms and 1.5 baths