Three-Unit Residential
For Sale
$1,499,900
502 Laurel Avenue, Point Pleasant Beach, NJ 08742
Multi-Family, Point Pleasant Beach, NJ
Property Size2,781 SF
Lot Size0.20 Acres
Price / SF$539.34
Days on Market58
Property Features for 502 Laurel Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 5, Bedroom 6, Bathroom 1, Basement, Bedroom 4, Bedroom 1, Bedroom 2, Bathroom 3, Bathroom 2, Bedroom 3
Parking features
Off Street
Basement
Full, Walk-Out Access
Elementary school
Antrim
High school
Point Pleasant Beach
Directions
Home is located between Route 35 North & 35 South.
Subdivision
Pt Pleasant Bch
Standard status
Active
APN
26-00077-0000-00014
Size
2,781 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8523
Utilities
Sewer type
Public Sewer
Cooling system
Multi Units
Water source
Public
Building Details
Year built
1900
Floors in Building
3
Number of units
3
Roof type
Shingle
Listing Agency:
RE/MAX Bay Point Realtors · RE/MAX International
Listed By:
Ronald J Stoner · License #9231127
(732) 899-8202
Added: Jul 13
Changed: Sep 2
Last Checked: Sep 8 at 2:06AM
MLS# 22621332
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.
Built in 1900, this 2,781-square-foot residential property contains three separate units. The first-floor residence includes three bedrooms, a full bathroom with tub, an eat-in kitchen, living and dining rooms, an enclosed front porch, and access toward the garage. The second-floor unit offers two bedrooms, a full bathroom with tub, an eat-in kitchen, and a living area. A one-bedroom third-floor unit includes a full bathroom with shower stall, living room, and eat-in kitchen.
The 0.2-acre property is located on Laurel Avenue in Point Pleasant Beach, with access to public water and public sewer. A long driveway provides off-street and backyard parking. The property also features a shingle roof and multi-unit cooling.
The 0.2-acre property is located on Laurel Avenue in Point Pleasant Beach, with access to public water and public sewer. A long driveway provides off-street and backyard parking. The property also features a shingle roof and multi-unit cooling.
Key Highlights
- Three separate residential units totaling 2,781 square feet
- Unit mix includes 3 bedrooms, 2 bedrooms, and 1 bedroom
- 0.2‑acre lot with long driveway and backyard parking
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
$46,543
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
3.10%
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%
$930,860
$930.9K
Cap Rate 7%
$664,900
$664.9K
Cap Rate 9%
$517,144
$517.1K
Market Conditions
NOI Build-Up for 2,781 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
$71.1K $25.56/SF
− Vacancy
−$4.6K −$1.65/SF
EGI
$66.5K $23.91/SF
− OpEx
−$19.9K −$7.17/SF
NOI
$46.5K $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%
$930,860
Cap Rate 7%
$664,900
Cap Rate 9%
$517,144
Alternative Uses
Best Use
Multifamily LT 5
$664.9K
$581.8K – $775.7K
NOI $46,543 @ 7.0% cap · market cap 3.10%
Second Best
Apartment 5plus
$610.9K
$534.6K – $712.8K
NOI $42,766 @ 7.0% cap · market cap 2.85%
Theoretical Best
Office A
$726.2K
$635.4K – $847.2K
NOI $50,832 @ 7.0% cap · market cap 3.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,048
Businesses Nearby
Explore this area
Business Placement
Demographics for 08742, NJ
25,056
Population
12,604
Households
2
Avg Household Size
46
Median Age
52%
College-Educated
95%
High-School Grad
5.6 sq mi
ZIP Area
4,474
Density / Sq Mi
$111,983
Median Household Income
$57,547
Median Earnings
$1,879
Median Rent
$576,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Historic coastal-area property with separate residential units, public utilities, and off-street parking.
Where is this triplex located?
The property is located at 502 Laurel Avenue Point Pleasant Beach, NJ.
What is the asking price?
The asking price for this property is $1,499,900.
What are key features of this property?
This property features: Three separate residential units totaling 2,781 square feet; Unit mix includes 3 bedrooms, 2 bedrooms, and 1 bedroom; 0.2‑acre lot with long driveway and backyard parking
