Mixed-Use Property in
196 Bay Avenue, Highlands, NJ 07732
For Sale
$750,000
Pending
Versatile property with retail space and residential income potential.
Property Size3,200 SF
Lot Size0.09 Acres
Days on Market445
Property Features for 196 Bay Avenue
General Information
Standard status
Size
Lot size
Property subtype
Taxes and HOA fees
Annual Taxes
Amenities
Central air
Corner Lot
Asphalt Roof
Central Air Cooling
Concrete Flooring
Forced Air Heating
Handicapped
In Alley
Linoleum Flooring
On Site
Sidewalks
Skylights Roof
Unpaved
Window Unit(s) Cooling
Listing Agency:
O'BRIEN REALTY, LLC
(732) 229-3532
Listed By:
STEPHEN CANDELINO
(973) 315-5959
Source:
Corcoran
Added: Aug 22, 2025
Changed: Nov 2
Last Checked: Nov 8 at 6:19AM
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 O'BRIEN REALTY, LLC
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.
Located in Highlands, this mixed-use property offers visibility and income streams. The first floor provides flexible space suitable for retail, office, or restaurant use. The second floor features a 1,500 sq. ft. apartment with 4 bedrooms. Situated in a newly re-zoned district that allows for additional building height, the property presents a value-add opportunity. Investors can enhance returns by dividing the existing apartment into two 2-bedroom units and adding another story with two additional 2-bedroom apartments. Rental demand in Highlands remains strong due to proximity to the Sea Streak Ferry and the Jersey Shore, with 2-bedroom units averaging $2,500+ per month. The property size is 3,200 sq. ft.
Key Highlights
- Prime location in the heart of Highlands, near the Sea Streak Ferry and Jersey Shore.
- Versatile mixed‑use property with retail/office/restaurant space on the first floor and a 4‑bedroom apartment on the second floor.
- Value‑add opportunity to increase income by dividing the existing apartment into two 2‑bedroom units.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,210
Cap Rate
6.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$984,200
$984.2K
Cap Rate 7%
$703,000
$703.0K
Cap Rate 9%
$546,778
$546.8K
Market Conditions
NOI Build-Up for 3,200 SF
Gross rent
$96.0K $30.00/SF
− Vacancy
−$6.5K −$2.04/SF
EGI
$89.5K $27.96/SF
− OpEx
−$40.3K −$12.58/SF
NOI
$49.2K $15.38/SF
Area
Monmouth 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%
$984,200
Cap Rate 7%
$703,000
Cap Rate 9%
$546,778
Alternative Uses
Best Use
Apartment 5plus
$703.0K
$615.1K – $820.2K
NOI $49,210 @ 7.0% cap · market cap 6.56%
Second Best
Retail
$652.5K
$570.9K – $761.2K
NOI $45,674 @ 7.0% cap · market cap 6.09%
Theoretical Best
Office A
$835.6K
$731.1K – $974.9K
NOI $58,491 @ 7.0% cap · market cap 7.80%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
392
Businesses Nearby
Explore this area
Business Placement
Demographics for 07732, NJ
4,710
Population
3,040
Households
1.5
Avg Household Size
49
Median Age
54%
College-Educated
91%
High-School Grad
3.8 sq mi
ZIP Area
1,239
Density / Sq Mi
$90,205
Median Household Income
$72,484
Median Earnings
$1,841
Median Rent
$396,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Mixed-use properties in Monmouth County, NJ
Properties on Market for Mixed-use properties in Monmouth County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Versatile property with retail space and residential income potential.
Where is this mixed-use property located?
The property is located at 196 Bay Avenue Highlands, NJ.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Prime location in the heart of Highlands, near the Sea Streak Ferry and Jersey Shore.; Versatile mixed‑use property with retail/office/restaurant space on the first floor and a 4‑bedroom apartment on the second floor.; Value‑add opportunity to increase income by dividing the existing apartment into two 2‑bedroom units.
