Remodeled Three-Unit
New
For Sale
$620,000
1712 BINNACLE ROAD, Forked River, NJ 08731
Three separate living units include two shared gathering areas and off-street parking.
Property Size2,216 SF
Price / SF$279.78
Days on Market5
Property Features for 1712 BINNACLE ROAD
General Information
Standard status
Active
Size
2,216 SF
Property subtype
Duplex
Units
Unit Mix
1 x 3BR/2BA, 2 x 2BR/1BA
Multifamily Units
3
Building Details
Year Built
1960
Listing Agency:
RE/MAX at Barnegat Bay - Toms River
(732) 473-1700
Listed By:
Camille A Simms · License #1537335
(908) 797-4439
Source:
Cummingsrealtors
Added: Oct 22
Changed: Oct 25
Last Checked: Oct 25 at 2:39AM
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 at Barnegat Bay - Toms River
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This remodeled triplex contains 2,216 square feet across three units. The main residence has three bedrooms, with potential for a fourth, two full bathrooms, an eat-in kitchen, a dining area, and generous living space. A second-floor unit provides two bedrooms and one bathroom, while the third unit has two bedrooms and one bathroom. Updated kitchens and bathrooms serve the units, and two common areas offer shared indoor space.
The upper unit has views of Barnegat Bay. The property was built in 1960 and includes off-street parking.
The upper unit has views of Barnegat Bay. The property was built in 1960 and includes off-street parking.
Key Highlights
- Three‑unit property with 2,216 square feet
- Main unit offers 3 bedrooms, possible fourth bedroom, and 2 full baths
- Second unit has 2 bedrooms and 1 bath, with Barnegat Bay views
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,087
Cap Rate
5.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$741,740
$741.7K
Cap Rate 7%
$529,814
$529.8K
Cap Rate 9%
$412,078
$412.1K
Market Conditions
NOI Build-Up for 2,216 SF
Gross rent
$56.6K $25.56/SF
− Vacancy
−$3.7K −$1.65/SF
EGI
$53.0K $23.91/SF
− OpEx
−$15.9K −$7.17/SF
NOI
$37.1K $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%
$741,740
Cap Rate 7%
$529,814
Cap Rate 9%
$412,078
Alternative Uses
Best Use
Multifamily LT 5
$529.8K
$463.6K – $618.1K
NOI $37,087 @ 7.0% cap · market cap 5.98%
Second Best
Apartment 5plus
$486.8K
$426.0K – $568.0K
NOI $34,078 @ 7.0% cap · market cap 5.50%
Theoretical Best
Office A
$578.6K
$506.3K – $675.1K
NOI $40,505 @ 7.0% cap · market cap 6.53%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
Explore this area
Business Placement
Demographics for 08731, NJ
20,953
Population
9,663
Households
2.2
Avg Household Size
45
Median Age
32%
College-Educated
94%
High-School Grad
78.1 sq mi
ZIP Area
268
Density / Sq Mi
$93,267
Median Household Income
$45,345
Median Earnings
$2,080
Median Rent
$360,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three separate living units include two shared gathering areas and off-street parking.
Where is this triplex located?
The property is located at 1712 BINNACLE ROAD Forked River, NJ.
What is the asking price?
The asking price for this property is $620,000.
What are key features of this property?
This property features: Three‑unit property with 2,216 square feet; Main unit offers 3 bedrooms, possible fourth bedroom, and 2 full baths; Second unit has 2 bedrooms and 1 bath, with Barnegat Bay views
