Beach-Block Triplex with Ocean
New
For Sale
$1,550,000
44 Hancock Avenue, Seaside Heights, NJ 08751
Multi-Family, Seaside Heights, NJ
Property Size2,800 SF
Lot Size0.09 Acres
Price / SF$553.57
Days on Market6
Property Features for 44 Hancock Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential, Neighborhood, Multi-Family
Bedrooms
9
Bathrooms
5
Full bathrooms
4
Half bathrooms
1
Rooms
Bedroom 4, Basement, Bedroom 5, Bedroom 6, Bedroom 9, Bathroom 1, Bathroom 5, Bedroom 8, Bathroom 3, Bedroom 3, Bedroom 7, Bedroom 2, Bedroom 1, Bathroom 2, Bathroom 4
Parking features
Off Street
Patio and Porch features
Deck
Exterior features
Outdoor Grill, Deck, Board Walk, Ocean View
Lot features
Ocean Block
View
Water
Directions
GSP to exit 82 towards Seaside Heights
Subdivision
Seaside Heights
Standard status
Active
APN
27-00039-0000-00026
Size
2,800 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
11485
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Multi Units, Central Air
Water source
Public
Water front
1
Building Details
Year built
1940
Floors in Building
2
Number of units
3
Flooring type
Wood, Vinyl
Roof type
Shingle
Listing Agency:
Van Dyk Group
Listed By:
Alyson Scudiero
(609) 597-1988
Added: Sep 15
Last Checked: Sep 20 at 5:06PM
MLS# 22629140
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 2,800-square-foot triplex includes three existing units and nine bedrooms. The primary residence offers five bedrooms and 2.5 baths, while the rear structure contains two separate apartments, each with two bedrooms and one full bath. A potential fourth unit is also identified. Built in 1940, the property includes wood and vinyl flooring, forced-air heat, central air, additional cooling units, decks, an outdoor grill, and off-street parking.
Set on 0.09 acres in Seaside Heights’ North End, the property occupies a beach-block location near the sand and boardwalk and includes an ocean view. Public water and public sewer serve the property. The existing configuration provides separate residential spaces within a Jersey Shore setting, with features suited to personal use or rental occupancy.
Set on 0.09 acres in Seaside Heights’ North End, the property occupies a beach-block location near the sand and boardwalk and includes an ocean view. Public water and public sewer serve the property. The existing configuration provides separate residential spaces within a Jersey Shore setting, with features suited to personal use or rental occupancy.
Key Highlights
- Three existing units with 9 bedrooms total
- Primary residence includes 5 bedrooms and 2.5 baths
- Rear building has two 2‑bedroom, 1‑bath units
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
$46,861
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
3.02%
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%
$937,220
$937.2K
Cap Rate 7%
$669,443
$669.4K
Cap Rate 9%
$520,678
$520.7K
Market Conditions
NOI Build-Up for 2,800 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
$71.6K $25.56/SF
− Vacancy
−$4.6K −$1.65/SF
EGI
$66.9K $23.91/SF
− OpEx
−$20.1K −$7.17/SF
NOI
$46.9K $16.74/SF
Area
Ocean 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%
$937,220
Cap Rate 7%
$669,443
Cap Rate 9%
$520,678
Alternative Uses
Best Use
Multifamily LT 5
$669.4K
$585.8K – $781.0K
NOI $46,861 @ 7.0% cap · market cap 3.02%
Second Best
Apartment 5plus
$615.1K
$538.2K – $717.6K
NOI $43,058 @ 7.0% cap · market cap 2.78%
Theoretical Best
Office A
$731.1K
$639.8K – $853.0K
NOI $51,180 @ 7.0% cap · market cap 3.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
573
Businesses Nearby
Explore this area
Business Placement
Demographics for 08751, NJ
3,867
Population
5,319
Households
0.7
Avg Household Size
48
Median Age
39%
College-Educated
90%
High-School Grad
1.3 sq mi
ZIP Area
2,975
Density / Sq Mi
$75,000
Median Household Income
$52,273
Median Earnings
$1,437
Median Rent
$583,000
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
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Frequently Asked Questions
What type of property is this?
Triplex - Three existing units include a spacious main residence and two separate rear apartments.
Where is this triplex located?
The property is located at 44 Hancock Avenue Seaside Heights, NJ.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Three existing units with 9 bedrooms total; Primary residence includes 5 bedrooms and 2.5 baths; Rear building has two 2‑bedroom, 1‑bath units
