Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Riverfront Land in Point Pleasant Title is generated by Realmo AI

    115 Channel Drive, Point Pleasant Beach, NJ 08742

    View on Map
    Claim this Listing
    For Sale
    $2,900,000

    Prime riverfront land in a maritime and fishing hub.

    Type:Commercial
    Property size:
    1,420 SF
    Lot size:
    0.29 Acres
    Price / SF:
    $2,042/SF
    Added:
    Apr 1, 2025
    Days on Market:
    430
    Last Refresh:
    Apr 5 at 8:23 pm

    Property Features for 115 Channel Drive

    General Information

    Standard status
    Active
    Size
    1,420 SF
    Lot size
    0.29 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    1948

    We can help!

    Listing Contact
    LINDSAY WOODRUFF

    Listing agent LINDSAY WOODRUFF

    Listing office C21/ HERBERTSVILLE REAL ESTATE

    Listing date Apr 1, 2025

    Source Corcoran

    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 C21/ HERBERTSVILLE REAL ESTATE

    HighLights

    • Prime riverfront location inside Manasquan Inlet
    • Zoned Marine Commercial with many permitted uses
    • Includes adjacent lot (113 Channel Dr, Lots 7 & 8 Block 171)
    • Located in the heart of Point Pleasant Beach maritime and fishing hub
    • High traffic and exposure on Channel Drive
    • Area undergoing redevelopment with new townhomes, restaurants and attractions

    Overview

    This property presents an opportunity to acquire riverfront land situated just inside the Manasquan Inlet, centrally located within the Point Pleasant Beach maritime and fishing area. Zoned Marine Commercial, the property includes the adjacent lot at 113 Channel Dr (Lots 7 and 8 Block 171). The property's zoning allows for various uses, including marine, fisheries, co-ops, restaurants, breweries, commercial and recreational boating operations, maintenance, and storage. Channel Drive benefits from consistent traffic and exposure and has seen improvements and development with new townhomes, restaurants, and attractions over the past decade, with further redevelopment planned. The property has a size of 1420 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Point Pleasant Beach
    County
    Ocean
    State
    New Jersey
    Longitude
    -74.0417
    Latitude
    40.1016

    Nearby Similar for Sale

    • $1,599,900
      3,229 SF

      Multi-Use Building in Point Pleasant

      Multi-use building in vibrant downtown Point Pleasant Beach.
      517-521 Bay Avenue, Point Pleasant Beach, NJ 08742
      View Details
    • $1,350,000

      Point Pleasant Beach Redevelopment Opportunity

      Commercial and residential redevelopment opportunity near Jersey Shore's coastal communities.
      1000 Richmond Avenue, Point Pleasant Beach, NJ 08742
      View Details
    • $1,350,000

      Point Pleasant Beach Redevelopment Opportunity

      Residential and commercial redevelopment potential near the beach.
      1000 Richmond Avenue, Point Pleasant Beach, NJ 08742
      View Details
    • $1,200,000
      3,378 SF

      Point Pleasant Beach Commercial Opportunity

      Commercial property in downtown Point Pleasant Beach, zoned for general commercial.
      401 Richmond Avenue, Point Pleasant Beach, NJ 08742
      View Details
    • $1,499,900
      2,380 SF

      Mixed-Use Building in Point Pleasant

      Multi-use building with retail space and apartments in downtown.
      523-525 Bay Avenue, Point Pleasant Beach, NJ 08742
      View Details
    • $459,000
      668 SF

      Renovated Condo Near Point Pleasant Beach

      Completely renovated first-floor condo, one block from the beach.
      310 Maryland Avenue, Point Pleasant Beach, NJ 08742
      View Details
    • $2,900,000
      1,420 SF

      Riverfront Land in Point Pleasant

      Prime riverfront land in Point Pleasant Beach's maritime hub.
      115 Channel Drive, Point Pleasant Beach, NJ 08742
      View Details
    • $1,800,000
      7,956 SF

      Point Pleasant Beach Investment Opportunity

      Mixed-use property with retail and residential units in downtown.
      511 Bay Avenue, Point Pleasant Beach, NJ 08742
      View Details
    • $1,350,000
      2,950 SF

      Redevelopment Opportunity Near Jersey Shore

      Prime corner lot with commercial and residential potential near beach.
      1000 Richmond Avenue, Point Pleasant Beach, NJ 08742
      View Details
    • $10,500,000
      10,868 SF

      Oceanfront Motel with Development Potential

      Prime coastal motel property with 44 rooms and development potential.
      1008 Ocean Avenue, Point Pleasant Beach, NJ 08742
      View Details
    • $875,000

      Leased Retail Investment Opportunity

      Fully leased retail property on a busy road.
      234 Hawthorne Avenue, Point Pleasant Beach, NJ 08742
      View Details
    • $1,000,000

      Established Brokerage Business Opportunity

      Real estate brokerage business with listings for sale.
      1010 Gowdy Ave, Point Pleasant Beach, NJ 08742
      View Details

    FAQs

    What type of property is this?
    Commercial land - Prime riverfront land in a maritime and fishing hub.
    Where is this commercial land located?
    The property is located at 115 Channel Drive Point Pleasant Beach, NJ.
    What is the asking price?
    The asking price for this property is $2,900,000.
    What are key features of this property?
    This property features: Prime riverfront location inside Manasquan Inlet; Zoned Marine Commercial with many permitted uses; Includes adjacent lot (113 Channel Dr, Lots 7 & 8 Block 171)
    (732) 458-6262
    We can help!
    Listing Contact
    LINDSAY WOODRUFF
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    115 Channel Drive, Point Pleasant Beach, NJ 08742
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!