Downtown Mixed-Use
For Sale
$659,000
42 Broad St, Keyport, NJ 07735
Mixed-use building with first-floor retail space and second-floor residential unit, currently under renovation downtown Keyport.
Property Size2,900 SF
Price / SF$227.24
Days on Market112
Property Features for 42 Broad St
General Information
Standard status
Active
Size
2,900 SF
Additional Details
Multifamily Units
1
Building Details
Year Built
1900
Stories
2
Listing Agency:
Heritage House Sotheby's International Realty
Listed By:
Dennis Fotopoulos · License #2297828
(732) 673-9347
Source:
Obrienrealtyllc
Added: Jun 30
Changed: Oct 11
Last Checked: Oct 7 at 4:40PM
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
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Investment Insights
Based on property information with market context.
This mixed-use property offers a first-floor layout suitable for retail or other commercial use, along with a second-floor residential space. Public remarks indicate approximately 1,500 SF on the first floor and approximately 1,400 SF on the second floor. Renovations have begun, providing a buyer the ability to complete improvements and tailor the spaces to their preferred configuration. Exposed brick walls are highlighted as an existing interior feature that can support flexible design options.
The building is located in downtown Keyport, steps from Keyport Waterfront Park, with proximity to shops, dining, and the waterfront promenade referenced in the remarks. The Main Street setting is intended to support day-to-day visibility for the ground-floor commercial space, while the upper level can provide independent residential living above.
The first-floor area can work for a tenant seeking a street-facing commercial presence, depending on final permitted uses and approvals. On the second floor, the prior configuration was described as a spacious two-bedroom apartment, and the layout may be reconfigurable subject to municipal zoning approval. Given that renovations are underway and permitted uses require due diligence, this property is best suited for an owner or buyer comfortable completing the buildout and coordinating final approvals.
The building is located in downtown Keyport, steps from Keyport Waterfront Park, with proximity to shops, dining, and the waterfront promenade referenced in the remarks. The Main Street setting is intended to support day-to-day visibility for the ground-floor commercial space, while the upper level can provide independent residential living above.
The first-floor area can work for a tenant seeking a street-facing commercial presence, depending on final permitted uses and approvals. On the second floor, the prior configuration was described as a spacious two-bedroom apartment, and the layout may be reconfigurable subject to municipal zoning approval. Given that renovations are underway and permitted uses require due diligence, this property is best suited for an owner or buyer comfortable completing the buildout and coordinating final approvals.
Key Highlights
- Mixed‑use building in downtown Keyport with first‑floor retail/commercial space and second‑floor residential space
- First floor offers approx. 1,500 SF of retail or commercial space; second floor offers approx. 1,400 SF of residential space
- Total building area approx. 2,900 SF across 2 stories
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,596
Cap Rate
6.77%
Suggested Prices Based on Cap Rates
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
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 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.
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
684
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use building with first-floor retail space and second-floor residential unit, currently under renovation downtown Keyport.
Where is this mixed-use property located?
The property is located at 42 Broad St 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: Mixed‑use building in downtown Keyport with first‑floor retail/commercial space and second‑floor residential space; First floor offers approx. 1,500 SF of retail or commercial space; second floor offers approx. 1,400 SF of residential space; Total building area approx. 2,900 SF across 2 stories
