Mixed-Use Building with
New
For Sale
$2,589,000
1404 E Central Avenue, Lavallette, NJ 08735
Commercial Sale, Lavallette, NJ
Property Size6,273 SF
Lot Size0.11 Acres
Price / SF$412.72
Days on Market3
Property Features for 1404 E Central Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Office, Multi-Family, Retail, Residential, Professional, Neighborhood, Multi-Use, Mixed, Commercial, Central Business
Parking features
Off Street, On Street
Exterior features
Display Window
Directions
Take Route 35 North to building on left. (called E Grand Central Ave in Lavallette)
Standard status
Active
APN
16-00041-01-00003
Size
6,273 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
9086
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1974
Floors in Building
2
Flooring type
Vinyl, Wood, Concrete
Listing Agency:
Diane Turton, Realtors-Wall
(732) 292-1400
Listed By:
Rosemarie J Caruso
(732) 244-7776
Added: Sep 25
Last Checked: Sep 27 at 12:06PM
MLS# 22630391
Copyright © 2026 More MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-story mixed-use property contains 6,273 square feet across three units on a 0.11-acre parcel measuring 100 by 50 feet. Two commercial spaces occupy the first floor, with display windows and concrete and vinyl flooring. The second floor is a three-bedroom, two-bath apartment with a balcony off the main bedroom and a deck accessed from the dining area and bedrooms. A washer and dryer, pantry, linen closet, and additional rooms for storage, office, or exercise use are also included. The building dates to 1974 and has forced-air heat, central air conditioning, public water, and public sewer.
The property is in downtown Lavallette, among commercial businesses, restaurants, and residences. Parking options include off-street and on-street spaces.
The property is in downtown Lavallette, among commercial businesses, restaurants, and residences. Parking options include off-street and on-street spaces.
Key Highlights
- 6,273‑square‑foot, two‑story building with three units
- Two commercial units on the first floor
- Three‑bedroom, two‑bath apartment on the second floor
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
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
279
Businesses Nearby
4k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 85%
Dining 15%
Sunoco
Shops & Services
1,974 visits/mo
0.3 miles
PNC Bank
Shops & Services
1,315 visits/mo
0.4 miles
Playa Bowls
Dining
571 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Ground-floor commercial space is paired with an upper-level residence in a downtown setting among businesses, restaurants, and homes.
Where is this mixed-use property located?
The property is located at 1404 E Central Avenue 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: 6,273‑square‑foot, two‑story building with three units; Two commercial units on the first floor; Three‑bedroom, two‑bath apartment on the second floor
