Downtown Mixed-Use Investment
511 Bay Avenue Point Pleasant Beach, NJ 08742
511 Bay Avenue, Point Pleasant Beach, NJ, 08742
$1,600,000
For Sale
$1,600,000
Four-unit mixed-use property with retail and residential spaces.
Property Size7,956 SF
Lot Size0.12 Acres
Price / SF$201.11
Days on Market129
Property Features for 511 Bay Avenue
General Information
- Standard status
- Active
- Size
- 7,956 SF
- Lot size
- 0.12 Acres
- Property subtype
- Commercial
Listing Agency
KELLER WILLIAMS REALTY SPRING LAKE
(848) 220-7120
Listed by
DIANE GLANDER
Source
Corcoran
Added: Mar 14 Updated: Jul 10 at 3:50 pm Checked: Jul 20 at 4:00 am
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
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)
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 Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Ormolu
Home Decor Store
Similar For Sale Nearby
FAQs
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 $1,600,000.
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)
