Two-Unit Duplex with
For Sale
$849,900
111 Lincoln Avenue, Seaside Heights, NJ 08751
Multi-Family, Seaside Heights, NJ
Property Size1,823 SF
Price / SF$466.21
Days on Market671
Property Features for 111 Lincoln Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential
Bedrooms
6
Bathrooms
4
Full bathrooms
3
Half bathrooms
1
Rooms
Bedroom 6, Bathroom 3, Bedroom 2, Bedroom 1, Bedroom 5, Bedroom 4, Bathroom 1, Bathroom 2, Basement, Bedroom 3, Bathroom 4
Patio and Porch features
Deck
Exterior features
Deck
Directions
Central Ave to Lincoln # 111. 1 Block to the Beach and Boardwalk. Could be a rental powerhouse..........
Subdivision
Seaside Heights
Standard status
Active
APN
11111111111
Size
1,823 SF
Taxes and HOA fees
Tax Year
2023
Tax Annual Amount
5325
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Floors in Building
2
Number of units
2
Roof type
Shingle
Listing Agency:
Seaside Heights Realty Inc.
(732) 793-5200
Listed By:
Michael Loundy · License #8435976
(732) 330-6651
Added: Dec 1, 2024
Changed: Oct 2
Last Checked: Oct 3 at 1:06AM
MLS# 22434110
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 1,823-square-foot duplex contains two apartments and offers a six-bedroom, four-bathroom configuration with basement space. A deck adds outdoor area, while the property is served by public water and public sewer and has a shingle roof.
The property sits 1 block from the ocean in Seaside Heights, with the beach, boardwalk, restaurants, shopping, rides, and amusements within walking distance. Its location also provides access to the Garden State Parkway at Exit 82, with stated drive times of 1 hour to NYC, Atlantic City, and Philadelphia. The source describes summer rental and short-term rental potential for the two-apartment layout.
The property sits 1 block from the ocean in Seaside Heights, with the beach, boardwalk, restaurants, shopping, rides, and amusements within walking distance. Its location also provides access to the Garden State Parkway at Exit 82, with stated drive times of 1 hour to NYC, Atlantic City, and Philadelphia. The source describes summer rental and short-term rental potential for the two-apartment layout.
Key Highlights
- 1,823 square feet configured as two apartments
- Six bedrooms and four bathrooms with basement space
- Deck provides outdoor area
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
$30,510
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
3.59%
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%
$610,200
$610.2K
Cap Rate 7%
$435,857
$435.9K
Cap Rate 9%
$339,000
$339.0K
Market Conditions
NOI Build-Up for 1,823 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
$46.6K $25.56/SF
− Vacancy
−$3.0K −$1.65/SF
EGI
$43.6K $23.91/SF
− OpEx
−$13.1K −$7.17/SF
NOI
$30.5K $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%
$610,200
Cap Rate 7%
$435,857
Cap Rate 9%
$339,000
Alternative Uses
Best Use
Multifamily LT 5
$435.9K
$381.4K – $508.5K
NOI $30,510 @ 7.0% cap · market cap 3.59%
Second Best
Apartment 5plus
$400.5K
$350.4K – $467.2K
NOI $28,034 @ 7.0% cap · market cap 3.30%
Theoretical Best
Office A
$476.0K
$416.5K – $555.4K
NOI $33,322 @ 7.0% cap · market cap 3.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
592
Businesses Nearby
Explore this area
Business Placement
Demographics for 08751, NJ
3,867
Population
5,319
Households
0.7
Avg Household Size
48
Median Age
39%
College-Educated
90%
High-School Grad
1.3 sq mi
ZIP Area
2,975
Density / Sq Mi
$75,000
Median Household Income
$52,273
Median Earnings
$1,437
Median Rent
$583,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two apartments with a deck, basement, and walkable access to the beach, boardwalk, dining, shopping, and amusements.
Where is this duplex located?
The property is located at 111 Lincoln Avenue Seaside Heights, NJ.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: 1,823 square feet configured as two apartments; Six bedrooms and four bathrooms with basement space; Deck provides outdoor area
