Downtown Keyport Mixed-Use
For Sale
$659,000
42 Broad Street, Keyport, NJ 07735
Mixed-use property in downtown Keyport near the waterfront park.
Property Size2,900 SF
Price / SF$227.24
Days on Market128
Property Features for 42 Broad Street
General Information
Standard status
Active
Size
2,900 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$9,075
Amenities
Display Window
Flat Roof
Forced Air Heating
On Street
Sloping Roof
Tile Flooring
Wood Flooring
Building Details
Year Built
1900
Listing Agency:
HERITAGE HOUSE SOTHEBY'S INTERNATIONAL REALTY
(732) 946-9200
Listed By:
DENNIS FOTOPOULOS · License #2297828
Source:
Corcoran
Added: Apr 10
Changed: Aug 8
Last Checked: Aug 8 at 12:57PM
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 HERITAGE HOUSE SOTHEBY'S INTERNATIONAL REALTY
Investment Insights
Based on property information with market context.
This mixed-use property is located in the heart of downtown Keyport, steps from Keyport Waterfront Park. Situated on Main Street, it benefits from a setting near shops, dining, and the waterfront promenade. The first floor provides approximately 1,500 SF of retail or commercial space with strong visibility. The second floor offers approximately 1,400 SF of residential space. Renovations have begun, presenting an opportunity for a buyer to complete and customize the property. Exposed brick walls add historical character and flexible design appeal. The second floor was previously configured as a spacious two-bedroom apartment and may offer potential for reconfiguration, subject to municipal zoning and Planning Board approval. Buyer to conduct due diligence regarding permitted uses and approvals.
Key Highlights
- Prime Main Street location in downtown Keyport, steps from Keyport Waterfront Park.
- Mixed‑use property with approximately 1,500 SF of retail/commercial space and 1,400 SF of residential space.
- Opportunity to customize and complete ongoing renovations.
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
$44,596
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
6.77%
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%
$891,920
$891.9K
Cap Rate 7%
$637,086
$637.1K
Cap Rate 9%
$495,511
$495.5K
Market Conditions
NOI Build-Up for 2,900 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
$87.0K $30.00/SF
− Vacancy
−$5.9K −$2.04/SF
EGI
$81.1K $27.96/SF
− OpEx
−$36.5K −$12.58/SF
NOI
$44.6K $15.38/SF
Area
Monmouth County, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
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%
$891,920
Cap Rate 7%
$637,086
Cap Rate 9%
$495,511
Alternative Uses
Best Use
Apartment 5plus
$637.1K
$557.5K – $743.3K
NOI $44,596 @ 7.0% cap · market cap 6.77%
Second Best
Retail
$591.3K
$517.4K – $689.9K
NOI $41,393 @ 7.0% cap · market cap 6.28%
Theoretical Best
Office A
$757.2K
$662.6K – $883.5K
NOI $53,007 @ 7.0% cap · market cap 8.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
712
Businesses Nearby
181k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 47%
Home Improvements & Furnishings 24%
Groceries 16%
Dining 13%
Wawa
Shops & Services
42,925 visits/mo
0.5 miles
The Home Depot
Home Improvements & Furnishings
41,603 visits/mo
0.2 miles
Stop & Shop
Groceries
25,326 visits/mo
0.0 miles
Dollar Tree
Shops & Services
16,670 visits/mo
0.1 miles
Dunkin' Donuts
Dining
13,862 visits/mo
0.1 miles
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
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property in downtown Keyport near the waterfront park.
Where is this mixed-use property located?
The property is located at 42 Broad Street Keyport, NJ.
What is the asking price?
The asking price for this property is $659,000.
What are key features of this property?
This property features: Prime Main Street location in downtown Keyport, steps from Keyport Waterfront Park.; Mixed‑use property with approximately 1,500 SF of retail/commercial space and 1,400 SF of residential space.; Opportunity to customize and complete ongoing renovations.
