Multi-Use Retail Strip
For Sale
$1,099,999
3561 Route 35, Lavallette, NJ 08735
Commercial building on Route 35N with on-site customer parking and approval for multiple business types.
Property Size4,342 SF
Price / SF$253.34
Days on Market52
Property Features for 3561 Route 35
General Information
Standard status
Active
Size
4,342 SF
Property subtype
General Commercial
Amenities
Central Air
3
Concrete
Flat, Asphalt
Parking.
10 Parking Spaces. Off Street.
Irregular
Irregular.
Building Details
Year Built
1952
Listing Agency:
Diane Turton, Realtors-Avon
(732) 774-0246
Listed By:
Paul Firetto · License #2187175
(732) 774-0246
Source:
Xome
Added: Jul 10
Changed: Aug 28
Last Checked: Aug 29 at 7:36AM
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 Diane Turton, Realtors-Avon
Investment Insights
Based on property information with market context.
This commercial building is positioned right on Route 35N and is designed to accommodate multiple different types of businesses, subject to the existing approvals. The property includes multiple parking spaces for customers to pull in and park off the main road, supporting convenient access and day-to-day operations.
The location is in Silver Beach, only a short distance from Lavallette, with the beach within walking distance. BikeScore is listed at 44 (Somewhat Bikeable) and WalkScore at 35 (Car-Dependent).
Overall, the site is suited for a tenant or owner looking for a flexible storefront setup with straightforward customer parking directly on-site.
The location is in Silver Beach, only a short distance from Lavallette, with the beach within walking distance. BikeScore is listed at 44 (Somewhat Bikeable) and WalkScore at 35 (Car-Dependent).
Overall, the site is suited for a tenant or owner looking for a flexible storefront setup with straightforward customer parking directly on-site.
Key Highlights
- Commercial building built in 1952
- Located on Route 35N on a busy road
- On‑site customer parking with multiple parking spaces off the main road for easier access
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
$66,401
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
6.04%
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%
$1,328,020
$1.3M
Cap Rate 7%
$948,586
$948.6K
Cap Rate 9%
$737,789
$737.8K
Market Conditions
NOI Build-Up for 4,342 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
$93.8K $21.60/SF
− Vacancy
−$5.3K −$1.21/SF
EGI
$88.5K $20.39/SF
− OpEx
−$22.1K −$5.10/SF
NOI
$66.4K $15.29/SF
Area
Ocean County, NJ
Vacancy
5.60%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$1,328,020
Cap Rate 7%
$948,586
Cap Rate 9%
$737,789
Alternative Uses
Best Use
Specialty Retail
$948.6K
$830.0K – $1.11M
NOI $66,401 @ 7.0% cap · market cap 6.04%
Second Best
Retail
$885.4K
$774.7K – $1.03M
NOI $61,975 @ 7.0% cap · market cap 5.63%
Theoretical Best
Office A
$1.13M
$992.1K – $1.32M
NOI $79,365 @ 7.0% cap · market cap 7.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
147
Businesses Nearby
15k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Wawa
Shops & Services
15,357 visits/mo
0.2 miles
Demographics for 08735, NJ
3,064
Population
7,244
Households
0.4
Avg Household Size
64
Median Age
50%
College-Educated
97%
High-School Grad
1.7 sq mi
ZIP Area
1,802
Density / Sq Mi
$85,265
Median Household Income
$64,875
Median Earnings
$865,200
Median Home Value
Market
Vacancy Rate% for Retail 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?
Strip mall - Commercial building on Route 35N with on-site customer parking and approval for multiple business types.
Where is this strip mall located?
The property is located at 3561 Route 35 Lavallette, NJ.
What is the asking price?
The asking price for this property is $1,099,999.
What are key features of this property?
This property features: Commercial building built in 1952; Located on Route 35N on a busy road; On‑site customer parking with multiple parking spaces off the main road for easier access
