Updated Mixed-Use
For Sale
$850,000
205 Bay Avenue, Highlands, NJ 07732
Multi-Family, Highlands, NJ
Property Size1,600 SF
Price / SF$531.25
Days on Market240
Property Features for 205 Bay Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Office, Condo, Single Family, Retail, Residential, Professional, Multi-Use, Multi-Family, Mixed, Live-in Professional, Commercial, Central Business
Bedrooms
1
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 1, Bathroom 1, Basement
Parking features
On Street
Window features
Insulated Windows
Exterior features
Lighting
Lot features
Level
Elementary school
Highlands
Middle school
Henry Hudson Reg
Directions
Route 36 to downtown Highlands building is on Bay Ave near the intersection of Valley Ave
Standard status
Active
APN
1
Size
1,600 SF
Additional Details
Mixed-Use Components
retail, residential
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
5629
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1923
Floors in Building
2
Number of units
2
Flooring type
Wood
Roof type
Flat
Listing Agency:
Preferred Properties Real Estate · Better Homes and Gardens Real Estate
Listed By:
George M Coffenberg
(732) 224-9200
Added: Mar 1
Changed: Oct 24
Last Checked: Oct 27 at 2:06AM
MLS# 22605083
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.
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Investment Insights
Based on property information with market context.
This 1,600-square-foot mixed-use building at 205 Bay Avenue combines a street-facing storefront with flexible space on the upper level. The interior has been renovated and includes wood flooring, central air, forced-air heating, a basement, bathroom, and bedroom. On-street parking is available, with public water and public sewer serving the property. The building dates to 1923 and has a flat roof.
Located in downtown Highlands, the property is near the Seastreak Ferry Terminal, which provides direct service to NYC. Area beaches and restaurants are also nearby. The upper floor can accommodate professional or residential space, while the ground-floor layout provides a separate storefront component for a commercial operator.
Located in downtown Highlands, the property is near the Seastreak Ferry Terminal, which provides direct service to NYC. Area beaches and restaurants are also nearby. The upper floor can accommodate professional or residential space, while the ground-floor layout provides a separate storefront component for a commercial operator.
Key Highlights
- 1,600‑square‑foot mixed‑use building with street‑level storefront
- Renovated interior spanning both levels
- Flexible upper floor for professional or residential space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,778
Cap Rate
3.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$535,560
$535.6K
Cap Rate 7%
$382,543
$382.5K
Cap Rate 9%
$297,533
$297.5K
Market Conditions
NOI Build-Up for 1,600 SF
Gross rent
$40.9K $25.56/SF
− Vacancy
−$2.6K −$1.65/SF
EGI
$38.3K $23.91/SF
− OpEx
−$11.5K −$7.17/SF
NOI
$26.8K $16.74/SF
Area
Monmouth 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%
$535,560
Cap Rate 7%
$382,543
Cap Rate 9%
$297,533
Alternative Uses
Best Use
Multifamily LT 5
$382.5K
$334.7K – $446.3K
NOI $26,778 @ 7.0% cap · market cap 3.15%
Second Best
Apartment 5plus
$351.5K
$307.6K – $410.1K
NOI $24,605 @ 7.0% cap · market cap 2.89%
Theoretical Best
Office A
$417.8K
$365.6K – $487.4K
NOI $29,245 @ 7.0% cap · market cap 3.44%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
401
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
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Street-level retail space pairs with flexible upper-floor professional or residential use.
Where is this mixed-use property located?
The property is located at 205 Bay Avenue Highlands, NJ.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 1,600‑square‑foot mixed‑use building with street‑level storefront; Renovated interior spanning both levels; Flexible upper floor for professional or residential space
