Duplex with Basement and
New
For Sale
$349,000
816 Union Avenue, Lakehurst, NJ 08733
Residential, Duplex, Lakehurst, NJ
Property Size1,170 SF
Lot Size0.12 Acres
Price / SF$298.29
Days on Market2
Property Features for 816 Union Avenue
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
1
Half bathrooms
1
Rooms
Bedroom 1, Basement, Bathroom 1, Bedroom 2, Bathroom 2, Bedroom 3
Patio and Porch features
Patio
Fencing
Fenced
Middle school
Manchester TWP
High school
Manchester Twnshp
Directions
From Route 70 West, Follow Route 70 West toward Lakehurst, Turn right onto Union Avenue, Continue on Union Avenue to 816 Union Ave property will be on your left.
Subdivision
Lakehurst
Standard status
Active
APN
14-00010-0000-00009
Size
1,170 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4679
Utilities
Sewer type
Public Sewer
Heating system
Oil, Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1972
Floors in Building
2
Flooring type
Cement
Roof type
Shingle
Architectural style
Other
Listing Agency:
Keller Williams Preferred Properties, Ship Bottom · Keller Williams Realty
Listed By:
Irma Haney
(609) 324-7600
Added: Sep 12
Last Checked: Sep 13 at 2:06PM
MLS# 22628643
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 duplex includes 1,170 square feet of living space with three bedrooms, 1.5 bathrooms, a basement, and a garage. Built in 1972, the property has cement flooring, a shingle roof, central air, and oil-fired forced-air heating. A patio and fenced outdoor area add to the existing improvements, while the interior is positioned for renovation and finishing work.
The property is served by public water and public sewer and is located near major roadways, shopping, and local amenities. Additional features include a 0.12-acre lot and a layout that includes the listed bedrooms, bathrooms, basement, and garage.
The property is served by public water and public sewer and is located near major roadways, shopping, and local amenities. Additional features include a 0.12-acre lot and a layout that includes the listed bedrooms, bathrooms, basement, and garage.
Key Highlights
- Duplex with 1,170 square feet of living space
- Three bedrooms and 1.5 bathrooms
- Basement and garage included
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
$19,581
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
5.61%
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%
$391,620
$391.6K
Cap Rate 7%
$279,729
$279.7K
Cap Rate 9%
$217,567
$217.6K
Market Conditions
NOI Build-Up for 1,170 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
$29.9K $25.56/SF
− Vacancy
−$1.9K −$1.65/SF
EGI
$28.0K $23.91/SF
− OpEx
−$8.4K −$7.17/SF
NOI
$19.6K $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%
$391,620
Cap Rate 7%
$279,729
Cap Rate 9%
$217,567
Alternative Uses
Best Use
Multifamily LT 5
$279.7K
$244.8K – $326.4K
NOI $19,581 @ 7.0% cap · market cap 5.61%
Second Best
Apartment 5plus
$257.0K
$224.9K – $299.9K
NOI $17,992 @ 7.0% cap · market cap 5.16%
Theoretical Best
Office A
$305.5K
$267.3K – $356.4K
NOI $21,386 @ 7.0% cap · market cap 6.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
146
Businesses Nearby
Explore this area
Business Placement
Demographics for 08733, NJ
2,738
Population
1,117
Households
2.5
Avg Household Size
37
Median Age
18%
College-Educated
88%
High-School Grad
12.3 sq mi
ZIP Area
223
Density / Sq Mi
$80,792
Median Household Income
$40,586
Median Earnings
$1,730
Median Rent
$225,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Three-bedroom duplex with a fenced lot, patio, basement, and garage, offering space for updates and personal improvements.
Where is this duplex located?
The property is located at 816 Union Avenue Lakehurst, NJ.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Duplex with 1,170 square feet of living space; Three bedrooms and 1.5 bathrooms; Basement and garage included
