Downtown Mixed-Use Investment
For Sale
$1,550,000
511 Bay Avenue, Point Pleasant Beach, NJ 08742
Four-unit mixed-use property with retail and residential spaces.
Property Size7,956 SF
Price / SF$193.75
Days on Market223
Property Features for 511 Bay Avenue
General Information
Standard status
Active
Size
7,956 SF
Property subtype
Mixed Use
Building Details
Building Size
7,956 SF
Listing Agency:
Keller Williams Realty Spring Lake
Listed By:
Diane Glander
(848) 220-7120
Source:
Sackmanrealty
Added: Mar 14
Changed: Oct 8
Last Checked: Oct 21 at 5:19AM
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 Keller Williams Realty Spring Lake
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Investment Insights
Based on property information with market context.
This mixed-use property presents an investment opportunity in the downtown area. The building includes four units, with two retail spaces on the ground floor and two apartments upstairs, consisting of a 2-bedroom and a 3-bedroom unit. The building also features storage space. The total size of the building is approximately 7956 square feet. Bay Avenue allows for office space on the first floor, which Arnold Avenue does not, presenting an added bonus.
Key Highlights
- Investment opportunity with long‑term tenants in all 4 units
- Located downtown
- Includes 2 retail units and 2 apartments (2‑bedroom and 3‑bedroom)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$133,889
Cap Rate
8.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,677,780
$2.7M
Cap Rate 7%
$1,912,700
$1.9M
Cap Rate 9%
$1,487,656
$1.5M
Market Conditions
NOI Build-Up for 8,000 SF
Gross rent
$204.5K $25.56/SF
− Vacancy
−$13.2K −$1.65/SF
EGI
$191.3K $23.91/SF
− OpEx
−$57.4K −$7.17/SF
NOI
$133.9K $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 Rate 5%
$2,677,780
Cap Rate 7%
$1,912,700
Cap Rate 9%
$1,487,656
Alternative Uses
Best Use
Multifamily LT 5
$1.91M
$1.67M – $2.23M
NOI $133,889 @ 7.0% cap · market cap 8.64%
Second Best
Apartment 5plus
$1.76M
$1.54M – $2.05M
NOI $123,024 @ 7.0% cap · market cap 7.94%
Theoretical Best
Office A
$2.09M
$1.83M – $2.44M
NOI $146,227 @ 7.0% cap · market cap 9.43%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,050
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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Four-unit mixed-use property with retail and residential spaces.
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 $1,550,000.
What are key features of this property?
This property features: Investment opportunity with long‑term tenants in all 4 units; Located downtown; Includes 2 retail units and 2 apartments (2‑bedroom and 3‑bedroom)
