Keansburg Commercial Building with
For Sale
$619,000
369 Carr Avenue, Keansburg, NJ 07734
Commercial building with income-producing apartment in developing beach town.
Property Size2,944 SF
Lot Size0.14 Acres
Price / SF$210.26
Days on Market155
Property Features for 369 Carr Avenue
General Information
Standard status
Active
Size
2,944 SF
Lot size
0.14 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$9,196
Amenities
Central air
Baseboard Heating
Central Air Cooling
On Site
On Street
Shingle Roof
Building Details
Year Built
1945
Listing Agency:
KELLER WILLIAMS REALTY WEST MONMOUTH
(732) 536-9010
Listed By:
DEBRA FANELLI · License #2295251
Source:
Corcoran
Added: Mar 21
Changed: Aug 22
Last Checked: Aug 22 at 8:37AM
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 KELLER WILLIAMS REALTY WEST MONMOUTH
Investment Insights
Based on property information with market context.
This commercial building is located in the developing beach town of Keansburg. The property features a commercial space on the first level, offering an open floor plan with approximately 2,000 square feet, storage, a bathroom, 8-foot ceilings, fluorescent lighting, and two large front windows. A spacious backyard is also included. The second level contains an income-producing two-bedroom apartment with approximately 944 square feet. The property is situated close to the beach, Garden State Parkway, buses, trains, ferry, retail shops, and restaurants. It is located across from Keansburg Borough Hall and minutes from the beach. The total property size is approximately 2,944 square feet. This property presents an opportunity for investors, entrepreneurs, and business owners.
Key Highlights
- Commercial building in developing beach town of Keansburg.
- Income‑producing two‑bedroom apartment on the second level.
- Large open floor plan commercial space (approx. 2,000 sq.ft.)**.
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
$39,744
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
6.42%
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%
$794,880
$794.9K
Cap Rate 7%
$567,771
$567.8K
Cap Rate 9%
$441,600
$441.6K
Market Conditions
NOI Build-Up for 2,944 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
$70.7K $24.00/SF
− Vacancy
−$7.1K −$2.40/SF
EGI
$63.6K $21.60/SF
− OpEx
−$23.8K −$8.10/SF
NOI
$39.7K $13.50/SF
Area
Monmouth County, NJ
Vacancy
10.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$794,880
Cap Rate 7%
$567,771
Cap Rate 9%
$441,600
Alternative Uses
Best Use
Mixed Use
$567.8K
$496.8K – $662.4K
NOI $39,744 @ 7.0% cap · market cap 6.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$768.7K
$672.7K – $896.9K
NOI $53,812 @ 7.0% cap · market cap 8.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
550
Businesses Nearby
Explore this area
Business Placement
Demographics for 07734, NJ
12,772
Population
5,349
Households
2.4
Avg Household Size
39
Median Age
22%
College-Educated
89%
High-School Grad
1.7 sq mi
ZIP Area
7,513
Density / Sq Mi
$89,073
Median Household Income
$41,228
Median Earnings
$1,638
Median Rent
$310,000
Median Home Value
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 - Commercial building with income-producing apartment in developing beach town.
Where is this mixed-use property located?
The property is located at 369 Carr Avenue Keansburg, NJ.
What is the asking price?
The asking price for this property is $619,000.
What are key features of this property?
This property features: Commercial building in developing beach town of Keansburg.; Income‑producing two‑bedroom apartment on the second level.; Large open floor plan commercial space (approx. 2,000 sq.ft.)**.
