Three-Unit Beachside
For Sale
$1,499,900
502 Laurel Avenue, Point Pleasant Beach, NJ 08742
Three residential units with enclosed front porch, enclosed garage access, and driveway with backyard parking.
Property Size2,781 SF
Days on Market42
Property Features for 502 Laurel Avenue
General Information
Standard status
Active
Size
2,781 SF
Property subtype
Three Family
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$8,523
Building Details
Building Size
2,781 SF
Year Built
1900
Tenancy
Multi
Listing Agency:
RE/MAX Bay Point Realtors
(732) 899-8202
Listed By:
Ronald J Stoner · License #9231127
(732) 899-8202
Source:
Sackmanrealty
Added: Jul 16
Changed: Aug 24
Last Checked: Aug 25 at 11:08AM
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 RE/MAX Bay Point Realtors
Investment Insights
Based on property information with market context.
This three-family triplex includes three separate residential units. The first-floor unit features an enclosed front porch, three bedrooms, a full bathroom with tub, an eat-in kitchen, a large living room, a dining room, and walk-down access to the garage. The second-floor unit offers two bedrooms, a full bathroom with tub, and an eat-in kitchen. The third-floor unit includes one bedroom, a full bathroom with shower stall, a living room, and an eat-in kitchen.
The property is described as being in the heart of Point Pleasant Beach, with walkable access to town, beach, and boardwalk.
A long driveway and backyard parking are included, providing off-street parking for residents.
The property is described as being in the heart of Point Pleasant Beach, with walkable access to town, beach, and boardwalk.
A long driveway and backyard parking are included, providing off-street parking for residents.
Key Highlights
- Three‑family home with units on the first, second, and third floors
- First‑floor unit features an enclosed front porch, 3 bedrooms, full bath with tub, eat‑in kitchen, and large living and dining rooms
- Second‑floor unit has 2 bedrooms, full bath with tub, and eat‑in kitchen
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
$46,543
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
3.10%
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%
$930,860
$930.9K
Cap Rate 7%
$664,900
$664.9K
Cap Rate 9%
$517,144
$517.1K
Market Conditions
NOI Build-Up for 2,781 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
$71.1K $25.56/SF
− Vacancy
−$4.6K −$1.65/SF
EGI
$66.5K $23.91/SF
− OpEx
−$19.9K −$7.17/SF
NOI
$46.5K $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%
$930,860
Cap Rate 7%
$664,900
Cap Rate 9%
$517,144
Alternative Uses
Best Use
Multifamily LT 5
$664.9K
$581.8K – $775.7K
NOI $46,543 @ 7.0% cap · market cap 3.10%
Second Best
Apartment 5plus
$610.9K
$534.6K – $712.8K
NOI $42,766 @ 7.0% cap · market cap 2.85%
Theoretical Best
Office A
$726.2K
$635.4K – $847.2K
NOI $50,832 @ 7.0% cap · market cap 3.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,048
Businesses Nearby
Explore this area
Business Placement
Demographics for 08742, NJ
25,056
Population
12,604
Households
2
Avg Household Size
46
Median Age
52%
College-Educated
95%
High-School Grad
5.6 sq mi
ZIP Area
4,474
Density / Sq Mi
$111,983
Median Household Income
$57,547
Median Earnings
$1,879
Median Rent
$576,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three residential units with enclosed front porch, enclosed garage access, and driveway with backyard parking.
Where is this triplex located?
The property is located at 502 Laurel Avenue Point Pleasant Beach, NJ.
What is the asking price?
The asking price for this property is $1,499,900.
What are key features of this property?
This property features: Three‑family home with units on the first, second, and third floors; First‑floor unit features an enclosed front porch, 3 bedrooms, full bath with tub, eat‑in kitchen, and large living and dining rooms; Second‑floor unit has 2 bedrooms, full bath with tub, and eat‑in kitchen
