Two-Apartment Duplex Near
For Sale
$849,900
111 Lincoln Avenue, Seaside Heights, NJ 08751
Two apartments are within walking distance of the beach, boardwalk, restaurants, shopping, and amusements.
Property Size1,823 SF
Price / SF$466.21
Days on Market678
Property Features for 111 Lincoln Avenue
General Information
Standard status
Active
Size
1,823 SF
Property subtype
Multi-family
Listing Agency:
Seaside Heights Realty Inc.
Listed By:
Michael Loundy
(833) 740-1234
Source:
Actionplusrealty
Added: Oct 3, 2024
Changed: Aug 11
Last Checked: Aug 11 at 9:53AM
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 Seaside Heights Realty Inc.
Investment Insights
Based on property information with market context.
This duplex includes two apartments in Seaside Heights, positioned just 1 block from the ocean. The property offers a residential income configuration with two separate apartments and access to the area’s seasonal rental market, without relying on a single residential layout.
Located on Lincoln Avenue in the heart of Seaside Heights, the property is within walking distance of restaurants, rides, amusements, the boardwalk, shopping, and the beach. The location is approximately 1 hour from NYC, with access to AC and Philly from Parkway exit 82.
Located on Lincoln Avenue in the heart of Seaside Heights, the property is within walking distance of restaurants, rides, amusements, the boardwalk, shopping, and the beach. The location is approximately 1 hour from NYC, with access to AC and Philly from Parkway exit 82.
Key Highlights
- Two apartments included in the duplex
- Just 1 block from the ocean
- Walkable to the beach, boardwalk, restaurants, rides, amusements, and shopping
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
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
598
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two apartments are within walking distance of the beach, boardwalk, restaurants, 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: Two apartments included in the duplex; Just 1 block from the ocean; Walkable to the beach, boardwalk, restaurants, rides, amusements, and shopping
