Downtown Mixed-Use
For Sale
$685,000
42 Broad Street Keyport, 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$236.21
Days on Market57
Property Features for 42 Broad Street Keyport
General Information
Standard status
Active
Size
2,900 SF
Additional Details
Multifamily Units
1
Building Details
Year Built
1900
Stories
2
Listing Agency:
(609) 891-3848
Listed By:
Roxolana Kuhn
(609) 891-3848
Source:
Remaxwelcomehomenj
Added: Jun 30
Changed: Jul 10
Last Checked: Aug 25 at 6:13AM
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 Roxolana Kuhn
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 = 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
6.51%
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 6.51%
Second Best
Retail
$591.3K
$517.4K – $689.9K
NOI $41,393 @ 7.0% cap · market cap 6.04%
Theoretical Best
Office A
$757.2K
$662.6K – $883.5K
NOI $53,007 @ 7.0% cap · market cap 7.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
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 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 Street Keyport Keyport, NJ.
What is the asking price?
The asking price for this property is $685,000.
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
