Highlands Mixed-Use Redevelopment
For Sale
$850,000
205 Bay Avenue, Highlands, NJ 07732
Land/Lots, Highlands, NJ
Property Size1,600 SF
Price / SF$531.25
Days on Market240
Property Features for 205 Bay Avenue
General Information
Property type
Land
Property subtype
Other
Zoning description
Office, Condo, Single Family, Retail, Residential, Professional, Multi-Use, Multi-Family, Mixed, Live-in Professional, Commercial, Central Business
Lot features
Level, Curbing
Elementary school
Highlands
Middle school
Henry Hudson Reg
High school
Henry Hudson
Directions
Route 36 to downtown Highlands. Bay Ave near the intersection of Valley Ave
Standard status
Active
APN
1
Size
1,600 SF
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
5629
Listing Agency:
Preferred Properties Real Estate · Better Homes and Gardens Real Estate
Listed By:
George M Coffenberg
(732) 224-9200
Added: Mar 1
Changed: Sep 3
Last Checked: Oct 27 at 2:06AM
MLS# 22605085
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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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Located in the Highlands downtown redevelopment zone, this mixed-use property features a storefront with living space above. The existing structure can provide income during the approval process for redevelopment. Zoning allows for parking underneath and four stories above.
Key Highlights
- Prime location with redevelopment potential.
- Located in the Highlands downtown redevelopment zone.
- Zoning allows for parking underneath and 4 stories above.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,605
Cap Rate
2.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$492,100
$492.1K
Cap Rate 7%
$351,500
$351.5K
Cap Rate 9%
$273,389
$273.4K
Market Conditions
NOI Build-Up for 1,600 SF
Gross rent
$48.0K $30.00/SF
− Vacancy
−$3.3K −$2.04/SF
EGI
$44.7K $27.96/SF
− OpEx
−$20.1K −$12.58/SF
NOI
$24.6K $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%
$492,100
Cap Rate 7%
$351,500
Cap Rate 9%
$273,389
Alternative Uses
Best Use
Apartment 5plus
$351.5K
$307.6K – $410.1K
NOI $24,605 @ 7.0% cap · market cap 2.89%
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.
How Realmo checks its estimates
Property Analytics
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Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Storefront with living space in Highlands redevelopment zone.
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: Prime location with redevelopment potential.; Located in the Highlands downtown redevelopment zone.; Zoning allows for parking underneath and 4 stories above.
