Redevelopment Opportunity Near Jersey
1000 Richmond Avenue Point Pleasant Beach, NJ 08742
1000 Richmond Avenue, Point Pleasant Beach, NJ, 08742
$1,350,000
For Sale
$1,350,000
Prime corner lot with commercial and residential potential near beach.
Property Size2,950 SF
Lot Size0.43 Acres
Price / SF$457.63
Days on Market106
Property Features for 1000 Richmond Avenue
General Information
- Standard status
- Active
- Size
- 2,950 SF
- Lot size
- 0.43 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1965
Listing Agency
HERITAGE HOUSE SOTHEBY'S INTERNATIONAL REALTY
(732) 946-9200
Listed by
LEANNE LUCARELLI · License #0679679
Source
Corcoran
Added: Apr 3 Checked: Jul 17 at 4:06 am
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of HERITAGE HOUSE SOTHEBY'S INTERNATIONAL REALTY
Investment Insights
Based on property information with market context.
This property presents a rare redevelopment opportunity with both commercial and residential potential. Situated on the corner of Route 35 (Richmond Avenue) and New Jersey Avenue, it offers high visibility and accessibility to Jersey Shore's coastal communities. Located approximately six blocks from the beach, the property includes an existing 2,950 sq. ft. self-serve car wash, which is currently inactive but can be renovated. The site spans a 150' x 125' (.43-acre) lot and is zoned Highway Commercial (HC) and Residential (SF-5). The zoning allows for a diverse range of permitted uses, including retail, office buildings, salons, garage storage, and restaurants. Buyers are responsible for completing their own due diligence and township requirements. This property is suitable for builders, developers, or investors.
Key Highlights
- Prime redevelopment opportunity with commercial and residential potential.
- Excellent location on the corner of Route 35 (Richmond Avenue) and New Jersey Ave, offering high visibility and access.
- Close proximity to the beach (6 blocks).
Local Financial Insights For Specialty Retail
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 | $63.7k | $21.60 |
| − Vacancy | −$3.6k | −$1.21 |
| EGI | $60.2k | $20.39 |
| − OpEx | −$15.0k | −$5.10 |
| NOI | $45.1k | $15.29 |
2,950 SF · lease $21.60/SF/yr · vacancy 5.60% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$644.5K
$563.9K – $751.9K
NOI $45,114 @ 7.0% cap · market cap 3.34%
Second Best
Retail
$601.5K
$526.3K – $701.8K
NOI $42,106 @ 7.0% cap · market cap 3.12%
Theoretical Best
Office A
$770.3K
$674.0K – $898.7K
NOI $53,921 @ 7.0% cap · market cap 3.99%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Self service car ...
Similar For Sale Nearby
FAQs
What type of property is this?
Self service car wash - Prime corner lot with commercial and residential potential near beach.
Where is this self service car wash located?
The property is located at 1000 Richmond Avenue Point Pleasant Beach, NJ.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Prime redevelopment opportunity with commercial and residential potential.; Excellent location on the corner of Route 35 (Richmond Avenue) and New Jersey Ave, offering high visibility and access.; Close proximity to the beach (6 blocks).
