Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    502 Princeton Ave Brick, NJ 08724

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $2,200,000

    Near acre waterfront parcel for a generational sanctuary.

    Property Features for 502 Princeton Ave

    General Information

    Standard status
    Active

    We can help!

    Listing Contact
    James Hannam
    James Hannam
    Source: Corcoran

    Listing Agency: RE/MAX Bay Point, REALTORS Listing Agent: James Hannam

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Waterfront Land Parcel For Sale

    Located on the southern ridge of the Beaver Dam Creek and east of the Jordan Bridge, this near acre parcel offers the opportunity to develop a waterfront compound. The lot has a Riparian Grant and is suited for a buyer who desires a mature setting. The property allows for the creation of a generational sanctuary and the ability to build a dream home to capture a special place to live out everlasting waterfront memories.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Hair Salon Building Supply Gym & Fitness Center Auto Repair Shop Pharmacy Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Brick
    County
    Ocean
    State
    New Jersey
    Longitude
    -74.0899138
    Latitude
    40.057185

    Nearby Similar for Sale

    • $465,000
      1,225 SF

      Office Space Near Hospital

      Office space featuring a waiting room, reception, and kitchenette.
      1480 Route 88, Brick, NJ 08724
      View Details
    • $85,000
      1,320 SF

      Profitable Salon Business Opportunity

      Established salon business for sale with loyal clientele.
      602 Mantoloking Rd, Brick, NJ 08723
      View Details
    • New
      $1,650,000
      4,090 SF

      Turnkey Commercial Building in Brick

      Renovated 4,090 SF commercial building with flexible layout and parking.
      516 Duquesne Blvd, Brick, NJ 08723
      View Details
    • New
      $2,250,000
      2,824 SF

      Freestanding Retail/Office Opportunity in Brick

      High-traffic location, flexible layout, drive-thru infrastructure, ready for occupancy.
      120 Jack Martin Blvd, Brick, NJ 08724
      View Details
    • $834,000
      4,400 SF

      Waterfront Shopping Plaza in Brick

      Highly visible shopping plaza with water views and redevelopment potential.
      2715 Hooper Ave, Brick, NJ 08723
      View Details
    • $99,999
      1,320 SF

      Profitable Salon in Brick, NJ

      Established salon with six-figure income and growth potential.
      602 Mantoloking Rd, Brick, NJ 08723
      View Details
    • $250,000

      Established Business with Growth Potential

      Reputable local business for sale with strong sales and loyal customers.
      2030 Route 88, Brick, NJ 08724
      View Details
    • $629,000
      1,700 SF

      Renovated Mixed-Use Building on Hooper

      Move-in ready office/retail building with residential use potential.
      2597 Hooper Ave, Brick, NJ 08723
      View Details
    • $699,000

      Redone Commercial Building in Brick

      Updated commercial building with modern amenities, ideal for professional services.
      736 Mantoloking Rd, Brick, NJ 08723
      View Details
    • $100,000

      BRICK TOWNSHIP Retail/Office Investment

      Prime business opportunity in a high-demand commercial area.
      2520 Hooper Ave, Brick, NJ 08723
      View Details
    • $569,999
      0.22 Acres

      Multi-Income Mixed-Use Property

      Mixed-use property with rental income potential in a vibrant location.
      638 Mantoloking Rd, Brick, NJ 08723
      View Details
    • $100,000

      Prime Retail/Office Space, Brick NJ

      Excellent visibility, high-traffic location, ideal for retail, office, or service.
      2520 Hooper Ave, Brick, NJ 08723
      View Details

    FAQs

    What type of property is this?
    Land - Near acre waterfront parcel for a generational sanctuary.
    Where is this land located?
    The property is located at 502 Princeton Ave Brick, NJ.
    What is the asking price?
    The asking price for this property is $2,200,000.
    What are key features of this property?
    This property features: - Waterfront property on Beaver Dam Creek.; - Near-acre parcel with potential for development.; - Opportunity to build a generational sanctuary.
    (732) 899-8202
    Request Owner's contact information
    502 Princeton Ave Brick, NJ 08724
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    502 Princeton Ave
    Brick, NJ 08724
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    502 Princeton Ave Brick, NJ 08724
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    James Hannam
    James Hannam
    Real Estate License ID: 4217851
    (732) 899-8202 (732) 513-8658
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!