Historic Triplex with
For Sale
$1,900,000
411 7th Avenue, Asbury Park, NJ 07712
Multi-Family, Asbury Park, NJ
Property Size4,246 SF
Price / SF$447.48
Days on Market15
Property Features for 411 7th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential, Multi-Family
Bedrooms
4
Bathrooms
3
Full bathrooms
4
Rooms
Bedroom 3, Basement, Bedroom 2, Bedroom 1, Bathroom 3, Bathroom 1, Bathroom 2, Bathroom 4, Bedroom 4
Parking
4
Parking features
Off Street, Open
Patio and Porch features
Deck
Interior features
Attic, Attic - Walk Up, Balcony, Recessed Lighting
Exterior features
Deck, Thermal Window, Ocean View, Screens, Lighting
Fencing
Fenced
Fireplace
1
Basement
Walk-Out Access, Full, Crawl Space
Lot features
Oceanside
Directions
Main St to east on 7th
Subdivision
NE Asbury Pk
Standard status
Active
APN
04-03707-0000-00008
Size
4,246 SF
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
29963
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Multi Units
Water source
Public
Water front
1
Building Details
Year built
1881
Floors in Building
3
Number of units
3
Flooring type
Wood, Tile - Ceramic
Building materials
Aluminum Siding
Roof type
Shingle, Flat
Listing Agency:
RE/MAX Gateway
(732) 695-1600
Listed By:
Robert M Roccia · License #230927
(732) 890-0598
Added: Sep 3
Changed: Sep 17
Last Checked: Sep 17 at 1:06PM
MLS# 22627685
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.
Built in 1881, this 4,246-square-foot triplex combines historic detailing with multiple residential areas. The interior includes 10-foot ceilings, hardwood flooring, moldings, formal living and dining rooms, a kitchen, an expansive staircase, and a full basement. The third floor contains three bedrooms, while the second floor includes two rooms, a primary suite with private-deck access, a full bath, laundry, and storage. A widow’s walk occupies the fourth level.
The property also includes an updated attached one-bedroom apartment and a separate two-story cottage suited to guest, studio, workspace, or residential use. Exterior features include decks, fenced areas, aluminum siding, thermal windows, and an ocean view. Forced-air heating, multiple cooling units, public water, and public sewer are provided. Apartment 1 is occupied under a month-to-month lease; the cottage occupant is relocating. The property is being sold as-is.
The property also includes an updated attached one-bedroom apartment and a separate two-story cottage suited to guest, studio, workspace, or residential use. Exterior features include decks, fenced areas, aluminum siding, thermal windows, and an ocean view. Forced-air heating, multiple cooling units, public water, and public sewer are provided. Apartment 1 is occupied under a month-to-month lease; the cottage occupant is relocating. The property is being sold as-is.
Key Highlights
- 4,246 square feet on a property built in 1881
- Three‑bedroom third floor plus a fourth‑level widow’s walk
- Updated attached one‑bedroom apartment
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
$71,062
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
3.74%
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%
$1,421,240
$1.4M
Cap Rate 7%
$1,015,171
$1.0M
Cap Rate 9%
$789,578
$789.6K
Market Conditions
NOI Build-Up for 4,246 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
$108.5K $25.56/SF
− Vacancy
−$7.0K −$1.65/SF
EGI
$101.5K $23.91/SF
− OpEx
−$30.5K −$7.17/SF
NOI
$71.1K $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%
$1,421,240
Cap Rate 7%
$1,015,171
Cap Rate 9%
$789,578
Alternative Uses
Best Use
Multifamily LT 5
$1.02M
$888.3K – $1.18M
NOI $71,062 @ 7.0% cap · market cap 3.74%
Second Best
Apartment 5plus
$932.8K
$816.2K – $1.09M
NOI $65,295 @ 7.0% cap · market cap 3.44%
Theoretical Best
Office A
$1.11M
$970.1K – $1.29M
NOI $77,610 @ 7.0% cap · market cap 4.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
963
Businesses Nearby
Explore this area
Business Placement
Demographics for 07712, NJ
39,397
Population
19,321
Households
2
Avg Household Size
42
Median Age
49%
College-Educated
93%
High-School Grad
12.2 sq mi
ZIP Area
3,229
Density / Sq Mi
$95,691
Median Household Income
$51,924
Median Earnings
$1,496
Median Rent
$578,300
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 - Period detailing, multiple living areas, and a two-story cottage create flexible residential configurations.
Where is this triplex located?
The property is located at 411 7th Avenue Asbury Park, NJ.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: 4,246 square feet on a property built in 1881; Three‑bedroom third floor plus a fourth‑level widow’s walk; Updated attached one‑bedroom apartment
