Triplex with Heated
For Sale
$675,000
Pending
41 Atlantic Street, Keyport, NJ 07735
Multi-Family, Keyport, NJ
Property Size3,200 SF
Lot Size0.25 Acres
Days on Market182
Property Features for 41 Atlantic Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Multi-Family
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bedroom 3, Bathroom 3, Bedroom 2, Bathroom 1, Bedroom 4, Bedroom 1, Bedroom 5, Basement
Parking features
Off Street
Patio and Porch features
Patio
Interior features
Attic - Walk Up
Fencing
Fenced
Fireplace
1
Basement
Finished
Lot features
Fenced Area
Middle school
Central
High school
Keyport
Directions
Route 35 to Holmdel Road North Right on Atlantic Street into Keyport 41 Atlantic on right after 3rd St. Intersection
Standard status
Pending
APN
24-00096-0000-00004
Size
3,200 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
12199
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Baseboard, Radiant, Zoned
Water source
Public
Amenities
saltwater heated in-ground pool
common basement laundry
Building Details
Year built
1909
Floors in Building
2
Number of units
3
Flooring type
Laminate, Wood, Tile - Ceramic
Roof type
Shingle, Wood
Listing Agency:
Heritage House Sotheby's International Realty
(732) 946-9200
Listed By:
Dennis Fotopoulos · License #2297828
(732) 673-9347
Added: Mar 23
Changed: Sep 18
Last Checked: Sep 20 at 4:06PM
MLS# 22607534
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 legal three-family property contains approximately 3,200 square feet across three apartments: two 2-bedroom, 1-bath units and one 1-bedroom, 1-bath unit. One 2-bedroom apartment is leased through December 2026, while the other two units are vacant and ready for renovation. The oversized 0.25-acre lot includes a saltwater heated in-ground pool, fenced outdoor space, patio, off-street parking, and common basement laundry. A walk-up attic and basement add functional storage and utility space.
Recent capital improvements include a roof replacement in 2019, water heaters installed in May 2023, and a furnace replaced in January 2024. The property is located one block from the Keyport Yacht Club and minutes from Keyport’s waterfront downtown district. Public water and public sewer serve the property. Buyers should conduct due diligence regarding zoning and permitted uses.
Recent capital improvements include a roof replacement in 2019, water heaters installed in May 2023, and a furnace replaced in January 2024. The property is located one block from the Keyport Yacht Club and minutes from Keyport’s waterfront downtown district. Public water and public sewer serve the property. Buyers should conduct due diligence regarding zoning and permitted uses.
Key Highlights
- Approximately 3,200 square feet on a 0.25‑acre lot
- Three units: two 2‑bedroom, 1‑bath apartments and one 1‑bedroom, 1‑bath apartment
- One 2‑bedroom unit leased through December 2026; two units vacant for renovation
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
$53,556
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
7.93%
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%
$1,071,120
$1.1M
Cap Rate 7%
$765,086
$765.1K
Cap Rate 9%
$595,067
$595.1K
Market Conditions
NOI Build-Up for 3,200 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
$81.8K $25.56/SF
− Vacancy
−$5.3K −$1.65/SF
EGI
$76.5K $23.91/SF
− OpEx
−$23.0K −$7.17/SF
NOI
$53.6K $16.74/SF
Area
Monmouth 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%
$1,071,120
Cap Rate 7%
$765,086
Cap Rate 9%
$595,067
Alternative Uses
Best Use
Multifamily LT 5
$765.1K
$669.5K – $892.6K
NOI $53,556 @ 7.0% cap · market cap 7.93%
Second Best
Apartment 5plus
$703.0K
$615.1K – $820.2K
NOI $49,210 @ 7.0% cap · market cap 7.29%
Theoretical Best
Office A
$835.6K
$731.1K – $974.9K
NOI $58,491 @ 7.0% cap · market cap 8.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
689
Businesses Nearby
Explore this area
Business Placement
Demographics for 07735, NJ
18,652
Population
8,411
Households
2.2
Avg Household Size
42
Median Age
33%
College-Educated
92%
High-School Grad
4.9 sq mi
ZIP Area
3,807
Density / Sq Mi
$98,760
Median Household Income
$57,988
Median Earnings
$1,520
Median Rent
$384,700
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit property with one leased apartment, two vacant units, and shared basement laundry.
Where is this triplex located?
The property is located at 41 Atlantic Street Keyport, NJ.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Approximately 3,200 square feet on a 0.25‑acre lot; Three units: two 2‑bedroom, 1‑bath apartments and one 1‑bedroom, 1‑bath apartment; One 2‑bedroom unit leased through December 2026; two units vacant for renovation
