Mixed-Use Property with Attached
New
For Sale
$3,400,000
129 Sumner Avenue Unit Plus Units A & B, Seaside Heights, NJ 08751
A convenience store is paired with two furnished residential units, combining retail space and housing on one property.
Property Size7,415 SF
Price / SF$458.53
Days on Market5
Property Features for 129 Sumner Avenue Unit Plus Units A & B
General Information
Standard status
Active
Size
7,415 SF
Property subtype
Commercial
Units
Unit Mix
2 x 4BR/3BA
Multifamily Units
2
Additional Details
Furnished
Yes
Building Details
Stories
3
Listing Agency:
RE/MAX Revolution
Listed By:
Stephanie Sevastakis · License #345749
(732) 232-4125
Source:
Actionplusrealty
Added: Oct 22
Changed: Oct 25
Last Checked: Oct 25 at 2:55AM
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 RE/MAX Revolution
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Investment Insights
Based on property information with market context.
This mixed-use property brings together a convenience store and two attached, recently built townhomes. Each residence has three stories, four bedrooms, three full bathrooms, and furnishings included. The store offers commercial space alongside the residential component.
The combination places retail and housing within a single property. The townhomes are furnished, and the store and residences provide distinct commercial and residential components.
The combination places retail and housing within a single property. The townhomes are furnished, and the store and residences provide distinct commercial and residential components.
Key Highlights
- Convenience store combined with two attached townhomes
- Two recently constructed, fully furnished three‑story townhomes
- Each townhome has 4 bedrooms and 3 full bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$124,099
Cap Rate
3.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,481,980
$2.5M
Cap Rate 7%
$1,772,843
$1.8M
Cap Rate 9%
$1,378,878
$1.4M
Market Conditions
NOI Build-Up for 7,415 SF
Gross rent
$189.5K $25.56/SF
− Vacancy
−$12.2K −$1.65/SF
EGI
$177.3K $23.91/SF
− OpEx
−$53.2K −$7.17/SF
NOI
$124.1K $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%
$2,481,980
Cap Rate 7%
$1,772,843
Cap Rate 9%
$1,378,878
Alternative Uses
Best Use
Multifamily LT 5
$1.77M
$1.55M – $2.07M
NOI $124,099 @ 7.0% cap · market cap 3.65%
Second Best
Apartment 5plus
$1.63M
$1.43M – $1.90M
NOI $114,028 @ 7.0% cap · market cap 3.35%
Theoretical Best
Office A
$1.94M
$1.69M – $2.26M
NOI $135,534 @ 7.0% cap · market cap 3.99%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
634
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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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - A convenience store is paired with two furnished residential units, combining retail space and housing on one property.
Where is this mixed-use property located?
The property is located at 129 Sumner Avenue Unit Plus Units A & B Seaside Heights, NJ.
What is the asking price?
The asking price for this property is $3,400,000.
What are key features of this property?
This property features: Convenience store combined with two attached townhomes; Two recently constructed, fully furnished three‑story townhomes; Each townhome has 4 bedrooms and 3 full bathrooms
