Mixed-Use Property with Business
New
For Sale
$999,999
21 2nd Ave Unit 2, Long Branch, NJ 07740
First-floor business space complements flexible residential accommodation and private rear parking.
Property Size2,342 SF
Price / SF$426.99
Days on Market2
Property Features for 21 2nd Ave Unit 2
General Information
Standard status
Active
Size
2,342 SF
Amenities
private parking
Building Details
Year Built
1910
Listing Agency:
Coldwell Banker Realty
Listed By:
Lucia Palmese
(732) 462-4242
Source:
Soldbypattie
Added: Sep 19
Last Checked: Sep 20 at 10:26AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
Built in 1910, this mixed-use property combines a first-floor business area with residential accommodations. The layout includes 5 bedrooms and 4 full bathrooms, with hardwood flooring throughout. The interior configuration also supports two potential rental units, subject to applicable requirements and approvals.
Private parking is positioned at the rear of the property, providing on-site convenience for occupants, customers, or business operators. The property is located at 21 2nd Ave Unit 2 in Long Branch, New Jersey.
Private parking is positioned at the rear of the property, providing on-site convenience for occupants, customers, or business operators. The property is located at 21 2nd Ave Unit 2 in Long Branch, New Jersey.
Key Highlights
- First‑floor business space within a mixed‑use property
- 5 bedrooms and 4 full bathrooms
- Hardwood floors throughout the property
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$36,015
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.60%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$720,300
$720.3K
Cap Rate 7%
$514,500
$514.5K
Cap Rate 9%
$400,167
$400.2K
Market Conditions
NOI Build-Up for 2,342 SF
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.
Gross rent
$70.3K $30.00/SF
− Vacancy
−$4.8K −$2.04/SF
EGI
$65.5K $27.96/SF
− OpEx
−$29.5K −$12.58/SF
NOI
$36.0K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$720,300
Cap Rate 7%
$514,500
Cap Rate 9%
$400,167
Alternative Uses
Best Use
Apartment 5plus
$514.5K
$450.2K – $600.3K
NOI $36,015 @ 7.0% cap · market cap 3.60%
Second Best
Office B
$511.9K
$447.9K – $597.2K
NOI $35,833 @ 7.0% cap · market cap 3.58%
Theoretical Best
Office A
$611.5K
$535.1K – $713.5K
NOI $42,808 @ 7.0% cap · market cap 4.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,090
Businesses Nearby
Explore this area
Business Placement
Demographics for 07740, NJ
31,905
Population
15,208
Households
2.1
Avg Household Size
38
Median Age
35%
College-Educated
84%
High-School Grad
5.3 sq mi
ZIP Area
6,020
Density / Sq Mi
$73,806
Median Household Income
$38,614
Median Earnings
$1,744
Median Rent
$521,900
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 Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - First-floor business space complements flexible residential accommodation and private rear parking.
Where is this mixed-use property located?
The property is located at 21 2nd Ave Unit 2 Long Branch, NJ.
What is the asking price?
The asking price for this property is $999,999.
What are key features of this property?
This property features: First‑floor business space within a mixed‑use property; 5 bedrooms and 4 full bathrooms; Hardwood floors throughout the property
