Three-Unit Mixed-Use
New
For Sale
$2,589,000
1404 E Central Ave, Lavallette, NJ 08735
Two ground-floor commercial spaces accompany an upstairs apartment with private outdoor areas and in-unit laundry.
Property Size6,273 SF
Days on Market2
Property Features for 1404 E Central Ave
General Information
Standard status
Active
Size
6,273 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$9,086
Building Details
Building Size
6,273 SF
Year Built
1974
Stories
2
Listing Agency:
Diane Turton, Realtors
Listed By:
Rosemarie J Caruso
(732) 292-1400
Source:
Elliman
Added: Sep 26
Last Checked: Sep 26 at 3:16PM
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 Diane Turton, Realtors
Investment Insights
Based on property information with market context.
This two-story mixed-use building contains three units: a pair of commercial spaces at street level and a three-bedroom, two-bath apartment above. The apartment includes a balcony off the primary bedroom, a deck accessible from the dining room and bedrooms, and a washer and dryer. Additional interior features include a pantry, linen closet, storage rooms, and areas suitable for office or exercise use.
The property occupies a 100-by-50-foot lot in downtown Lavallette, among businesses, restaurants, and residential properties. Built in 1974, it has a Walk Score of 76 and a Bike Score of 50.
The property occupies a 100-by-50-foot lot in downtown Lavallette, among businesses, restaurants, and residential properties. Built in 1974, it has a Walk Score of 76 and a Bike Score of 50.
Key Highlights
- Three‑unit, two‑story mixed‑use building
- Two commercial units on the first floor
- Upstairs apartment with 3 bedrooms and 2 full bathrooms
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
$89,536
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
3.46%
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%
$1,790,720
$1.8M
Cap Rate 7%
$1,279,086
$1.3M
Cap Rate 9%
$994,844
$994.8K
Market Conditions
NOI Build-Up for 6,273 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
$135.5K $21.60/SF
− Vacancy
−$7.6K −$1.21/SF
EGI
$127.9K $20.39/SF
− OpEx
−$38.4K −$6.12/SF
NOI
$89.5K $14.27/SF
Area
Ocean County, NJ
Vacancy
5.60%
Lease Rate
$21.60 /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%
$1,790,720
Cap Rate 7%
$1,279,086
Cap Rate 9%
$994,844
Alternative Uses
Best Use
Retail
$1.28M
$1.12M – $1.49M
NOI $89,536 @ 7.0% cap · market cap 3.46%
Second Best
Mixed Use
$1.04M
$905.7K – $1.21M
NOI $72,453 @ 7.0% cap · market cap 2.80%
Theoretical Best
Office A
$1.64M
$1.43M – $1.91M
NOI $114,660 @ 7.0% cap · market cap 4.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
136
Businesses Nearby
15k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Wawa
Shops & Services
15,357 visits/mo
0.5 miles
Demographics for 08735, NJ
3,064
Population
7,244
Households
0.4
Avg Household Size
64
Median Age
50%
College-Educated
97%
High-School Grad
1.7 sq mi
ZIP Area
1,802
Density / Sq Mi
$85,265
Median Household Income
$64,875
Median Earnings
$865,200
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?
Mixed-use property - Two ground-floor commercial spaces accompany an upstairs apartment with private outdoor areas and in-unit laundry.
Where is this mixed-use property located?
The property is located at 1404 E Central Ave Lavallette, NJ.
What is the asking price?
The asking price for this property is $2,589,000.
What are key features of this property?
This property features: Three‑unit, two‑story mixed‑use building; Two commercial units on the first floor; Upstairs apartment with 3 bedrooms and 2 full bathrooms
