Listing Agency: RE/MAX Revolution

Listed By: Julie L Choy · License #9696049 Show Phone

Source: Obrienrealtyllc

Added: Sep 6 Last Checked: Sep 8 at 12:23PM

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Investment Insights

Based on property information with market context.

This 4,510-square-foot flex property combines commercial, storage, and residential components. The lower level provides space for office, retail, storage, or shop use, along with an attached garage and two half baths. A separate large two-car garage warehouse adds additional room for storage or work functions. The upper level contains a 2BR, 1.5BA apartment that can support residential occupancy or an owner-user arrangement. Two-zone heating serves the property.

The property is located at 451 Atlantic City Boulevard in Beachwood, with direct proximity to RT 9 NB. It is near the local traffic circle and minutes from the parkway, placing the building within an established commercial corridor.

Key Highlights

• 4,510 SF flex property at 451 Atlantic City Boulevard
• Lower level supports office, storage, retail, or shop use
• Upper‑level 2BR 1.5BA 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

$50,621

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

7.79%

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%

$1,012,420 $1.0M

Cap Rate 7%

$723,157 $723.2K

Cap Rate 9%

$562,456 $562.5K

Market Conditions

NOI Build-Up for 4,510 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

$76.9K $17.04/SF

− Vacancy

−$4.5K −$1.01/SF

EGI

$72.3K $16.03/SF

− OpEx

−$21.7K −$4.81/SF

NOI

$50.6K $11.22/SF

Area

Ocean County, NJ

Vacancy

5.90%

Lease Rate

$17.04 /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%

$1,012,420

Cap Rate 7%

$723,157

Cap Rate 9%

$562,456

Alternative Uses

Best Use

Office B

$985.8K

$862.5K – $1.15M (±1% cap)

NOI $69,003 @ 7.0% cap · market cap 10.62%

Second Best

Retail

$919.6K

$804.7K – $1.07M (±1% cap)

NOI $64,372 @ 7.0% cap · market cap 9.90%

Theoretical Best

Office A

$1.18M

$1.03M – $1.37M (±1% cap)

NOI $82,436 @ 7.0% cap · market cap 12.68%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

JCM Home Services ... Electrical Service JCM Electric LLC Electrical Service Urgent Dentist Dental Office Amazing Deals Llc Liquidator

Suggested Use

Top Pick Real Estate Agency Spa & Massage Center Parking Lot & Garage Nail Salon Skin Care Clinic Daycare Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

423

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 08722, NJ

10,859

Population

4,180

Households

2.6

Avg Household Size

38

Median Age

28%

College-Educated

94%

High-School Grad

2.8 sq mi

ZIP Area

3,878

Density / Sq Mi

$102,043

Median Household Income

$49,811

Median Earnings

$2,236

Median Rent

$307,500

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - Mixed-use configuration combines commercial work areas, garage capacity, and an upstairs residential apartment.

Where is this flex space located?

The property is located at 451 Atlantic City Boulevard Beachwood, NJ.

What is the asking price?

The asking price for this property is $650,000.

What are key features of this property?

This property features: 4,510 SF flex property at 451 Atlantic City Boulevard; Lower level supports office, storage, retail, or shop use; Upper‑level 2BR 1.5BA apartment