Highlands Mixed-Use Redevelopment
205 Bay Avenue Highlands, NJ 07732
For Sale
$850,000
LAND - Highlands, NJ
Property Size1,600 SF
Price / SF$531.25
Days on Market149
Property Features for 205 Bay Avenue
General Information
Property type
Land
Property subtype
Other
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
(732) 224-9200
Listed By:
George M Coffenberg
(732) 224-9200
Added: Mar 1
Changed: Jun 11
Last Checked: Jul 28 at 1:06PM
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.
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 For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $48.0k | $30.00 |
| − Vacancy | −$3.3k | −$2.04 |
| EGI | $44.7k | $27.96 |
| − OpEx | −$20.1k | −$12.58 |
| NOI | $24.6k | $15.38 |
1,600 SF · lease $30.00/SF/yr · vacancy 6.80% · expense 45.00%
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.
Property Analytics
Property Profile
Location Intelligence
Current Use
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.
