Building Details

Year built 2010

Floors in Building 2

Flooring type Vinyl, Tile

Building materials Aluminum Siding, Brick

Roof type Shingle

Listing Agency: Weichert Realtors-Sea Girt

Listed By: Janet Marcellino Show Phone

Added: Jul 22 Changed: Oct 18 Last Checked: Oct 21 at 11:06PM

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MLS# 22622395

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Investment Insights

Based on property information with market context.

This end-unit flex space is part of a 4-unit building and contains 940 square feet across two levels. The first floor provides a 570-square-foot heated, climate-controlled garage and warehouse with epoxy flooring and a car lift. Above, 370 square feet of office space includes a private bathroom with a walk-in shower and a kitchenette with granite countertops, stainless steel refrigerator and freezer, and white cabinetry. Central air and heat, tile and vinyl flooring, windows on multiple sides, and public water and sewer support the configuration.

Built in 2010, the property offers assigned and open parking within a parking lot. Aluminum siding and brick construction, shingle roofing, and exterior lighting complete the physical improvements at 1646 Beaver Dam Road in Point Pleasant, New Jersey.

Key Highlights

• 940 SF end‑unit flex condominium in a 4‑unit building
• 570 SF heated, climate‑controlled garage/warehouse with epoxy flooring and car lift
• 370 SF second‑level office with private bath and walk‑in shower

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$14,382

Cap Rate

4.51%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$287,640 $287.6K

Cap Rate 7%

$205,457 $205.5K

Cap Rate 9%

$159,800 $159.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 940 SF

Gross rent

$28.2K $30.00/SF

− Vacancy

−$9.0K −$9.60/SF

EGI

$19.2K $20.40/SF

− OpEx

−$4.8K −$5.10/SF

NOI

$14.4K $15.30/SF

Area

Ocean County, NJ

Vacancy

32.00%

Lease Rate

$30.00 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$287,640

Cap Rate 7%

$205,457

Cap Rate 9%

$159,800

Alternative Uses

Best Use

Office B

$205.5K

$179.8K – $239.7K (±1% cap)

NOI $14,382 @ 7.0% cap · market cap 4.51%

Second Best

Warehouse

$183.0K

$160.2K – $213.5K (±1% cap)

NOI $12,812 @ 7.0% cap · market cap 4.02%

Theoretical Best

Office A

$245.5K

$214.8K – $286.4K (±1% cap)

NOI $17,182 @ 7.0% cap · market cap 5.39%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Dental Office Daycare Center Pharmacy Big Box & Wholesale Store Garden Center (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

1

Office units

Location Intelligence

Trade Area within ½ mile

263

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

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 Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Two-level commercial condominium combines climate-controlled workspace, private office amenities, and assigned parking.

Where is this flex space located?

The property is located at 1646 Beaver Dam Road Point Pleasant, NJ.

What is the asking price?

The asking price for this property is $319,000.

What are key features of this property?

This property features: 940 SF end‑unit flex condominium in a 4‑unit building; 570 SF heated, climate‑controlled garage/warehouse with epoxy flooring and car lift; 370 SF second‑level office with private bath and walk‑in shower