Mixed-Use Property with Commissary
For Sale
$2,800,000
346 Drum Point Road, Brick, NJ 08723
Mixed-use property with two apartments and two commissary kitchens, plus two drive-in garage doors and additional storage.
Property Size10,000 SF
Lot Size0.51 Acres
Price / SF$280
Days on Market253
Property Features for 346 Drum Point Road
General Information
Standard status
Active
Size
10,000 SF
Lot size
0.51 Acres
Property subtype
Commercial
Additional Details
Drive-In Doors
2
Multifamily Units
2
Building Details
Year Built
2026
Listing Agency:
J Elkon Realty LLC
Listed By:
Julie Elkon
(833) 740-1234
Source:
Actionplusrealty
Added: Dec 21, 2025
Changed: Aug 31
Last Checked: Aug 30 at 6:07PM
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 versatile mixed-use property offers approximately 10,000 sq ft of space on a 22,000 sq ft lot. The building includes two residential apartments and two commissary kitchens, suited to a range of operational needs. Additional functionality is provided by two drive-in garage doors and added storage space.
The property is located at 346 Drum Point Road in Brick, NJ (08723). Its layout supports both residential use and business operations within the same facility.
With two independent kitchen areas and drive-in access for loading and logistics, the configuration is designed to support flexible live/work or income-oriented use cases, subject to buyer and lender requirements.
The property is located at 346 Drum Point Road in Brick, NJ (08723). Its layout supports both residential use and business operations within the same facility.
With two independent kitchen areas and drive-in access for loading and logistics, the configuration is designed to support flexible live/work or income-oriented use cases, subject to buyer and lender requirements.
Key Highlights
- Mixed‑use property with two residential apartments and approx. 10,000 sq ft of space
- Two commissary kitchens included, suited for a variety of business uses
- Two drive‑in garage doors for loading, operations, and logistics
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
$167,362
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
5.98%
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%
$3,347,240
$3.3M
Cap Rate 7%
$2,390,886
$2.4M
Cap Rate 9%
$1,859,578
$1.9M
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
$255.6K $25.56/SF
− Vacancy
−$16.5K −$1.65/SF
EGI
$239.1K $23.91/SF
− OpEx
−$71.7K −$7.17/SF
NOI
$167.4K $16.74/SF
Area
Ocean County, NJ
Vacancy
6.46%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
30.00%
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%
$3,347,240
Cap Rate 7%
$2,390,886
Cap Rate 9%
$1,859,578
Alternative Uses
Best Use
Multifamily LT 5
$2.39M
$2.09M – $2.79M
NOI $167,362 @ 7.0% cap · market cap 5.98%
Second Best
Apartment 5plus
$2.20M
$1.92M – $2.56M
NOI $153,780 @ 7.0% cap · market cap 5.49%
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
Lease Details
2
Drive-in doors
2
Residential units
Location Intelligence
Trade Area within ½ mile
302
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 Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property with two apartments and two commissary kitchens, plus two drive-in garage doors and additional storage.
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: Mixed‑use property with two residential apartments and approx. 10,000 sq ft of space; Two commissary kitchens included, suited for a variety of business uses; Two drive‑in garage doors for loading, operations, and logistics
