Vacant Duplex on Double
For Sale
$699,000
120 Lincoln Ave, Seaside Heights, NJ 08751
Two-family property with a private backyard near Seaside beaches, boardwalk attractions, dining, and a pool club.
Property Size1,900 SF
Price / SF$367.89
Days on Market54
Property Features for 120 Lincoln Ave
General Information
Standard status
Active
Size
1,900 SF
Property subtype
Multi-Family
Listing Agency:
Allegro Agency
Listed By:
William Hagan Group
(732) 847-2901
Source:
Williamhagangroup
Added: Aug 25
Changed: Oct 16
Last Checked: Oct 16 at 8:50AM
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 Allegro Agency
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Investment Insights
Based on property information with market context.
This vacant duplex at 120 Lincoln Ave in Seaside Heights, New Jersey, contains approximately 1,900 square feet and occupies a double lot. The property includes a large private backyard and is configured for two-family use.
The home is located one block from the beach, with Seaside beaches, the boardwalk, rides, amusements, Ocean Beach and Pool Club, and restaurants within walking distance. It is also positioned across the street from the K. Hovnanian project. Parkway Exit 82 provides access, with the property approximately one hour from New York City, Atlantic City, and Philadelphia.
The home is located one block from the beach, with Seaside beaches, the boardwalk, rides, amusements, Ocean Beach and Pool Club, and restaurants within walking distance. It is also positioned across the street from the K. Hovnanian project. Parkway Exit 82 provides access, with the property approximately one hour from New York City, Atlantic City, and Philadelphia.
Key Highlights
- Duplex configuration on a double lot
- Approximately 1,900 square feet
- Vacant property with a large private backyard
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,799
Cap Rate
4.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$635,980
$636.0K
Cap Rate 7%
$454,271
$454.3K
Cap Rate 9%
$353,322
$353.3K
Market Conditions
NOI Build-Up for 1,900 SF
Gross rent
$48.6K $25.56/SF
− Vacancy
−$3.1K −$1.65/SF
EGI
$45.4K $23.91/SF
− OpEx
−$13.6K −$7.17/SF
NOI
$31.8K $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 Rate 5%
$635,980
Cap Rate 7%
$454,271
Cap Rate 9%
$353,322
Alternative Uses
Best Use
Multifamily LT 5
$454.3K
$397.5K – $530.0K
NOI $31,799 @ 7.0% cap · market cap 4.55%
Second Best
Apartment 5plus
$417.4K
$365.2K – $487.0K
NOI $29,218 @ 7.0% cap · market cap 4.18%
Theoretical Best
Office A
$496.1K
$434.1K – $578.8K
NOI $34,729 @ 7.0% cap · market cap 4.97%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
592
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two-family property with a private backyard near Seaside beaches, boardwalk attractions, dining, and a pool club.
Where is this duplex located?
The property is located at 120 Lincoln Ave Seaside Heights, NJ.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Duplex configuration on a double lot; Approximately 1,900 square feet; Vacant property with a large private backyard
