Two-Level Mixed-Use
For Sale
$850,000
205 Bay Avenue, Highlands, NJ 07732
Commercial Sale, Highlands, NJ
Property Size1,600 SF
Price / SF$531.25
Days on Market240
Property Features for 205 Bay Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Condo, Office, Multi-Family, Single Family, Retail, Residential, Professional, Multi-Use, Mixed, Live-in Professional, Commercial, Central Business
Rooms
Basement
Parking features
On Street
Window features
Insulated Windows
Exterior features
Display Window, Lighting
Fencing
Fenced
Lot features
Level, Curbing, Sidewalks
Directions
Route 36 to downtown highlands to Bay Ave near Valley Ave
Standard status
Active
APN
1
Size
1,600 SF
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
Flooring type
Wood
Building materials
Stucco
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 2
Last Checked: Oct 27 at 1:06AM
MLS# 22605082
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 includes two levels and a street-facing storefront with display windows and lighting. The interior has been renovated with wood flooring, central air, and forced-air heating. An open layout on the main level supports retail or service-oriented occupancy, while the upper floor provides flexible space for professional or residential use. A basement is also included.
Constructed in 1923, the property features stucco construction, a flat roof, fencing, on-street parking, public water, and public sewer. Its downtown Highlands setting places the building near the Seastreak Ferry Terminal, which provides direct service to New York City, as well as nearby beaches and restaurants.
Constructed in 1923, the property features stucco construction, a flat roof, fencing, on-street parking, public water, and public sewer. Its downtown Highlands setting places the building near the Seastreak Ferry Terminal, which provides direct service to New York City, as well as nearby beaches and restaurants.
Key Highlights
- 1,600 SF mixed‑use building with two levels and a basement
- Street‑level storefront with display windows and dedicated lighting
- Renovated interior with wood flooring, central air, and forced‑air heating
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,480
Cap Rate
2.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$489,600
$489.6K
Cap Rate 7%
$349,714
$349.7K
Cap Rate 9%
$272,000
$272.0K
Market Conditions
NOI Build-Up for 1,600 SF
Gross rent
$48.0K $30.00/SF
− Vacancy
−$15.4K −$9.60/SF
EGI
$32.6K $20.40/SF
− OpEx
−$8.2K −$5.10/SF
NOI
$24.5K $15.30/SF
Area
Monmouth 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%
$489,600
Cap Rate 7%
$349,714
Cap Rate 9%
$272,000
Alternative Uses
Best Use
Office B
$349.7K
$306.0K – $408.0K
NOI $24,480 @ 7.0% cap · market cap 2.88%
Second Best
Retail
$326.2K
$285.5K – $380.6K
NOI $22,837 @ 7.0% cap · market cap 2.69%
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
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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 frontage pairs with an adaptable upper floor for 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 SF mixed‑use building with two levels and a basement; Street‑level storefront with display windows and dedicated lighting; Renovated interior with wood flooring, central air, and forced‑air heating
