Former Service Station Retail
For Sale
$1,200,000
401 Richmond Avenue, Point Pleasant Beach, NJ 08742
Former service station offered for general commercial use, sold as-is, with options for adaptive reuse or redevelopment.
Property Size3,378 SF
Price / SF$355.24
Days on Market595
Property Features for 401 Richmond Avenue
General Information
Standard status
Active
Size
3,378 SF
Property subtype
Commercial
Building Details
Year Built
1990
Listing Agency:
Real Broker,LLC- Red Bank
Listed By:
Juan Sardo
(833) 740-1234
Source:
Actionplusrealty
Added: Jan 19, 2025
Changed: Sep 5
Last Checked: Sep 5 at 9:18AM
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 Real Broker,LLC- Red Bank
Investment Insights
Based on property information with market context.
The property is a former service station presented for redevelopment or reuse, and is zoned for general commercial use. It is being sold as-is, giving the next owner flexibility to customize the space for a new concept or to pursue a demolition and ground-up approach.
Located at 401 Richmond Avenue in Point Pleasant Beach, the site benefits from a downtown setting and the visibility associated with a commercial corridor.
While the existing configuration reflects its prior use as a service station, the property is now positioned as a blank canvas for a new retail or office-style layout, or for an automotive or contractor-related operation, subject to applicable approvals.
Located at 401 Richmond Avenue in Point Pleasant Beach, the site benefits from a downtown setting and the visibility associated with a commercial corridor.
While the existing configuration reflects its prior use as a service station, the property is now positioned as a blank canvas for a new retail or office-style layout, or for an automotive or contractor-related operation, subject to applicable approvals.
Key Highlights
- Former service station built in 1990
- Zoned for general commercial use
- Sold as‑is, with flexibility for adaptive reuse or redevelopment
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
$51,659
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
4.30%
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%
$1,033,180
$1.0M
Cap Rate 7%
$737,986
$738.0K
Cap Rate 9%
$573,989
$574.0K
Market Conditions
NOI Build-Up for 3,378 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
$73.0K $21.60/SF
− Vacancy
−$4.1K −$1.21/SF
EGI
$68.9K $20.39/SF
− OpEx
−$17.2K −$5.10/SF
NOI
$51.7K $15.29/SF
Area
Ocean County, NJ
Vacancy
5.60%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$1,033,180
Cap Rate 7%
$737,986
Cap Rate 9%
$573,989
Alternative Uses
Best Use
Specialty Retail
$738.0K
$645.7K – $861.0K
NOI $51,659 @ 7.0% cap · market cap 4.30%
Second Best
Retail
$688.8K
$602.7K – $803.6K
NOI $48,215 @ 7.0% cap · market cap 4.02%
Theoretical Best
Office A
$882.1K
$771.8K – $1.03M
NOI $61,744 @ 7.0% cap · market cap 5.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
953
Businesses Nearby
48k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 59%
Dining 39%
Home Improvements & Furnishings 2%
Dunkin' Donuts
Dining
14,724 visits/mo
0.3 miles
Exxon
Shops & Services
10,796 visits/mo
0.4 miles
Sunoco
Shops & Services
6,741 visits/mo
0.3 miles
Dollar General
Shops & Services
5,460 visits/mo
0.2 miles
Jersey Mike's Subs
Dining
4,023 visits/mo
0.4 miles
Demographics for 08742, NJ
25,056
Population
12,604
Households
2
Avg Household Size
46
Median Age
52%
College-Educated
95%
High-School Grad
5.6 sq mi
ZIP Area
4,474
Density / Sq Mi
$111,983
Median Household Income
$57,547
Median Earnings
$1,879
Median Rent
$576,300
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Gas station - Former service station offered for general commercial use, sold as-is, with options for adaptive reuse or redevelopment.
Where is this gas station located?
The property is located at 401 Richmond Avenue Point Pleasant Beach, NJ.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Former service station built in 1990; Zoned for general commercial use; Sold as‑is, with flexibility for adaptive reuse or redevelopment
