Mixed-Use Property with Commissary
For Sale
$2,800,000
346 Drum Point Road, Brick, NJ 08723
Versatile property with apartments, kitchens, and storage for sale.
Property Size10,000 SF
Lot Size0.51 Acres
Price / SF$280
Days on Market145
Property Features for 346 Drum Point Road
General Information
Standard status
Active
Size
10,000 SF
Lot size
0.51 Acres
Property subtype
Commercial
Amenities
Forced Air Heating
Building Details
Year Built
2026
Listing Agency:
J ELKON REALTY LLC
(732) 813-3400
Listed By:
JULIE ELKON · License #1539500
Source:
Corcoran
Added: Mar 20
Changed: Aug 9
Last Checked: Aug 9 at 8:10PM
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 J ELKON REALTY LLC
Investment Insights
Based on property information with market context.
This mixed-use property offers approximately 10,000 square feet of space on a 22,000 square foot lot. The property includes two residential apartments and two commissary kitchens, making it suitable for a variety of business uses. It also features two drive-in garage doors and additional storage, enhancing its functionality for operations and logistics. The property presents strong income potential and flexible live/work or investment opportunities.
Key Highlights
- Strong income potential with flexible live/work or investment opportunities.
- Two commissary kitchens ideal for a variety of business uses.
- Two residential apartments.
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
$153,780
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
5.49%
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%
$3,075,600
$3.1M
Cap Rate 7%
$2,196,857
$2.2M
Cap Rate 9%
$1,708,667
$1.7M
Market Conditions
NOI Build-Up for 10,000 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
$300.0K $30.00/SF
− Vacancy
−$20.4K −$2.04/SF
EGI
$279.6K $27.96/SF
− OpEx
−$125.8K −$12.58/SF
NOI
$153.8K $15.38/SF
Area
Ocean 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%
$3,075,600
Cap Rate 7%
$2,196,857
Cap Rate 9%
$1,708,667
Alternative Uses
Best Use
Apartment 5plus
$2.20M
$1.92M – $2.56M
NOI $153,780 @ 7.0% cap · market cap 5.49%
Second Best
Specialty Retail
$2.18M
$1.91M – $2.55M
NOI $152,928 @ 7.0% cap · market cap 5.46%
Theoretical Best
Office A
$2.61M
$2.28M – $3.05M
NOI $182,784 @ 7.0% cap · market cap 6.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
799
Businesses Nearby
Explore this area
Business Placement
Demographics for 08723, NJ
31,272
Population
14,075
Households
2.2
Avg Household Size
45
Median Age
30%
College-Educated
95%
High-School Grad
12.0 sq mi
ZIP Area
2,606
Density / Sq Mi
$103,953
Median Household Income
$54,165
Median Earnings
$1,652
Median Rent
$374,400
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Versatile property with apartments, kitchens, and storage for sale.
Where is this mixed-use property located?
The property is located at 346 Drum Point Road Brick, NJ.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: Strong income potential with flexible live/work or investment opportunities.; Two commissary kitchens ideal for a variety of business uses.; Two residential apartments.
