Three-Unit Multifamily
New
For Sale
$620,000
1712 BINNACLE Road, Forked River, NJ 08731
Multi-Family, FORKED RIVER, NJ
Property Size2,216 SF
Lot Size0.15 Acres
Price / SF$279.78
Days on Market3
Property Features for 1712 BINNACLE Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Off Street
Subdivision
NONE AVAILABLE
Standard status
Active
Size
2,216 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Annual Amount
6531
Utilities
Heating system
Baseboard, Hot Water(Heating)
Cooling system
Multi Units
Amenities
water views
common areas
off-street parking
Building Details
Year built
1960
Number of units
2
Building materials
Frame
Listing Agency:
RE/MAX at Barnegat Bay - Toms River · RE/MAX International
(732) 473-1700
Listed By:
Camille A Simms · License #1537335
(908) 797-4439
Added: Oct 22
Last Checked: Oct 24 at 7:06AM
MLS# NJOC2046020
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 2,216-square-foot multifamily property contains three residences. The main unit has 3 bedrooms, with potential for a fourth, 2 full bathrooms, an eat-in kitchen, a dining area and living space. The second unit offers 2 bedrooms and 1 bathroom, while the third has 2 bedrooms and 1 bathroom. Renovated kitchens and bathrooms serve the units, and two common areas provide shared indoor space.
Set on a 0.15-acre lot in Forked River, the property has views of Barnegat Bay and off-street parking. Built in 1960, the frame building is heated by baseboard and hot water systems and has multiple cooling units.
Set on a 0.15-acre lot in Forked River, the property has views of Barnegat Bay and off-street parking. Built in 1960, the frame building is heated by baseboard and hot water systems and has multiple cooling units.
Key Highlights
- Three residences: a 3‑bedroom main unit with potential for a fourth bedroom, plus two 2‑bedroom units
- 2,216 square feet on a 0.15‑acre lot
- Renovated kitchens and bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,078
Cap Rate
5.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$681,560
$681.6K
Cap Rate 7%
$486,829
$486.8K
Cap Rate 9%
$378,644
$378.6K
Market Conditions
NOI Build-Up for 2,216 SF
Gross rent
$66.5K $30.00/SF
− Vacancy
−$4.5K −$2.04/SF
EGI
$62.0K $27.96/SF
− OpEx
−$27.9K −$12.58/SF
NOI
$34.1K $15.38/SF
Area
Ocean County, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$681,560
Cap Rate 7%
$486,829
Cap Rate 9%
$378,644
Alternative Uses
Best Use
Apartment 5plus
$486.8K
$426.0K – $568.0K
NOI $34,078 @ 7.0% cap · market cap 5.50%
Second Best
—
—
no second resolved use
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
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Open Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
31
Businesses Nearby
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Three residences include shared gathering areas and views of Barnegat Bay.
Where is this multifamily property 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 residences: a 3‑bedroom main unit with potential for a fourth bedroom, plus two 2‑bedroom units; 2,216 square feet on a 0.15‑acre lot; Renovated kitchens and bathrooms
