Mixed-Use Retail and Apartment
511 Bay Avenue, Point Pleasant Beach, NJ 08742
COMMERCIAL - Point Pleasant Beach, NJ
Property size:
7,956 SFLot size:
0.12 AcresPrice / SF:
$201/SF- Added:
- Mar 13, 2026
- Days on Market:
- 107
- Last Refresh:
- Jun 27 at 2:06 am
Property Features for 511 Bay Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Parking features
- On Street
- Basement
- Crawl Space
- Standard status
- Active
- APN
- 26-00091-01-00025-02
- Size
- 7,956 SF
- Lot size
- 0.12 Acres
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air, Baseboard
- Water source
- Public
Building Details
- Floors in Building
- 2
Listing agent Diane Glander (848) 220-7120
Listing office Keller Williams Realty Spring Lake 2005 Route 71, Shrewsbury, NJ (848) 220-7120
Listing date Mar 13, 2026
MLS# 22606580
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.
HighLights
- Mixed‑use property in Point Pleasant Beach with 2 retail storefronts and 2 residential apartments, all currently occupied by long‑term tenants.
- Income: $3,100/mo (20‑year retail tenant), $3,000/mo (10‑year retail tenant), $1,900/mo 2BR, and $2,600/mo 3BR; annual gross income $127,200.
- About 1,000 SF of additional second‑floor space is currently used as tenant storage at no cost, with future expansion or conversion potential (subject to approvals).
- Heating includes forced air and baseboard; residential units use electric heat (tenant‑paid) and commercial units use gas heat (tenant‑paid).
- Utilities and services: public water and public sewer.
- Parking: on‑street parking.
Overview
This mixed-use property includes two retail storefronts and two residential apartments, all currently occupied. The retail units are tenant-paid heat, with one retail space fully renovated and the second in solid condition with improvement upside. The apartments are supported by electric heat that is also tenant-paid, and both are described as functional and well maintained with early-2000s finishes.
Located at 511 Bay Avenue in Point Pleasant Beach, NJ, the building is configured to combine storefront income with residential rent. The property’s rent roll includes a $3,100/month retail unit under a 20-year tenancy, a $3,000/month retail unit under a 10-year tenancy, a 2BR apartment at $1,900/month under an 8-year tenancy, and a 3BR apartment at $2,600/month under a 3-year tenancy. All tenants are currently month-to-month, with an emphasis on long-term lease conversions.
For investors and owner-operators, the property offers a stabilized income base with multiple practical levers: converting month-to-month arrangements to formal long-term leases and implementing annual increases. Additional second-floor space of approximately 1,000 SF is currently used as tenant storage at no cost, presenting potential for future expansion or conversion subject to approvals. Overall, the mix of long-tenured occupants and space optimization options supports a straightforward path to improving and maintaining cash-flow performance.
Located at 511 Bay Avenue in Point Pleasant Beach, NJ, the building is configured to combine storefront income with residential rent. The property’s rent roll includes a $3,100/month retail unit under a 20-year tenancy, a $3,000/month retail unit under a 10-year tenancy, a 2BR apartment at $1,900/month under an 8-year tenancy, and a 3BR apartment at $2,600/month under a 3-year tenancy. All tenants are currently month-to-month, with an emphasis on long-term lease conversions.
For investors and owner-operators, the property offers a stabilized income base with multiple practical levers: converting month-to-month arrangements to formal long-term leases and implementing annual increases. Additional second-floor space of approximately 1,000 SF is currently used as tenant storage at no cost, presenting potential for future expansion or conversion subject to approvals. Overall, the mix of long-tenured occupants and space optimization options supports a straightforward path to improving and maintaining cash-flow performance.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $203.4k | $25.56 |
| − Vacancy | −$13.1k | −$1.65 |
| EGI | $190.2k | $23.91 |
| − OpEx | −$57.1k | −$7.17 |
| NOI | $133.2k | $16.74 |
7,956 SF · lease $25.56/SF/yr · vacancy 6.46% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.90M
$1.66M – $2.22M
NOI $133,153 @ 7.0% cap · market cap 8.32%
Second Best
Apartment 5plus
$1.75M
$1.53M – $2.04M
NOI $122,347 @ 7.0% cap · market cap 7.65%
Theoretical Best
Office A
$2.08M
$1.82M – $2.42M
NOI $145,423 @ 7.0% cap · market cap 9.09%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Ormolu
Home Decor Store
Location Insight
- Map
- Local Demand
- City
- Point Pleasant Beach
- County
- Ocean
- State
- New Jersey
- Longitude
- -74.052057
- Latitude
- 40.091053
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - Two retail storefronts and two apartments at 511 Bay Avenue, positioned for ongoing rental income.
Where is this mixed-use property located?
The property is located at 511 Bay Avenue Point Pleasant Beach, NJ.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Mixed‑use property in Point Pleasant Beach with 2 retail storefronts and 2 residential apartments, all currently occupied by long‑term tenants.; Income: $3,100/mo (20‑year retail tenant), $3,000/mo (10‑year retail tenant), $1,900/mo 2BR, and $2,600/mo 3BR; annual gross income $127,200.; About 1,000 SF of additional second‑floor space is currently used as tenant storage at no cost, with future expansion or conversion potential (subject to approvals).
