Ocean-Block Duplex with
For Sale
$725,000
39 Franklin Avenue, Seaside Heights, NJ 08751
Multi-Family, Seaside Heights, NJ
Property Size1,312 SF
Lot Size0.04 Acres
Price / SF$552.59
Days on Market56
Property Features for 39 Franklin Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Basement, Bedroom 3, Bedroom 4, Bathroom 2, Bedroom 2, Bathroom 1
Parking features
On Street
Patio and Porch features
Deck, Patio
Exterior features
Deck
Fencing
Fenced
Lot features
Ocean Block
Directions
Ocean to Franklin
Subdivision
Seaside Heights
Standard status
Active
APN
27-00003-01-00039
Size
1,312 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8400
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
central air
covered front porch
stainless appliances
large deck
private sitting area
patio
fenced yard
Building Details
Year built
1940
Floors in Building
2
Number of units
2
Flooring type
Tile - Ceramic
Roof type
Shingle
Listing Agency:
Weichert Realtors-Sea Girt
(732) 974-1000
Listed By:
Patricia Johnson
(732) 793-6484
Added: Jul 27
Changed: Sep 19
Last Checked: Sep 20 at 5:06PM
MLS# 22623135
Copyright © 2026 More MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,312-square-foot duplex contains two residential units, each configured with 2 bedrooms and 1 full bath. Both units have gas heat and central air with separate metering. Interior features include ceramic tile, engineered flooring, updated kitchens with tiled floors and backsplashes, and stainless appliances. The property also has a newer roof, a covered front porch, deck, patio, and fenced backyard with a private sitting area.
Built in 1940 on a 0.04-acre lot, the property is located on Franklin Avenue in Seaside Heights, within the ocean block. Public water and public sewer serve the property, while parking is available on street. Lucky Leo’s, Klees Restaurant, and the Sawmill are identified nearby. The duplex offers a two-unit layout with separate mechanical metering and outdoor areas for each occupants’ use.
Built in 1940 on a 0.04-acre lot, the property is located on Franklin Avenue in Seaside Heights, within the ocean block. Public water and public sewer serve the property, while parking is available on street. Lucky Leo’s, Klees Restaurant, and the Sawmill are identified nearby. The duplex offers a two-unit layout with separate mechanical metering and outdoor areas for each occupants’ use.
Key Highlights
- Two units, each with 2 bedrooms and 1 full bath
- 1,312 square feet on a 0.04‑acre lot
- Separate metering for gas heat and central air in each unit
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
$21,958
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
3.03%
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%
$439,160
$439.2K
Cap Rate 7%
$313,686
$313.7K
Cap Rate 9%
$243,978
$244.0K
Market Conditions
NOI Build-Up for 1,312 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
$33.5K $25.56/SF
− Vacancy
−$2.2K −$1.65/SF
EGI
$31.4K $23.91/SF
− OpEx
−$9.4K −$7.17/SF
NOI
$22.0K $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%
$439,160
Cap Rate 7%
$313,686
Cap Rate 9%
$243,978
Alternative Uses
Best Use
Multifamily LT 5
$313.7K
$274.5K – $366.0K
NOI $21,958 @ 7.0% cap · market cap 3.03%
Second Best
Apartment 5plus
$288.2K
$252.2K – $336.3K
NOI $20,176 @ 7.0% cap · market cap 2.78%
Theoretical Best
Office A
$342.6K
$299.8K – $399.7K
NOI $23,981 @ 7.0% cap · market cap 3.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
592
Businesses Nearby
Explore this area
Business Placement
Demographics for 08751, NJ
3,867
Population
5,319
Households
0.7
Avg Household Size
48
Median Age
39%
College-Educated
90%
High-School Grad
1.3 sq mi
ZIP Area
2,975
Density / Sq Mi
$75,000
Median Household Income
$52,273
Median Earnings
$1,437
Median Rent
$583,000
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 Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separately metered units offer gas heat, central air, and flexible ownership or rental use.
Where is this duplex located?
The property is located at 39 Franklin Avenue Seaside Heights, NJ.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 1 full bath; 1,312 square feet on a 0.04‑acre lot; Separate metering for gas heat and central air in each unit
