Mixed-Use Property with Four
For Sale
$1,550,000
511 Bay Avenue, Point Pleasant Beach, NJ 08742
Commercial Sale, Point Pleasant Beach, NJ
Property Size7,956 SF
Lot Size0.12 Acres
Price / SF$194.82
Days on Market209
Property Features for 511 Bay Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
On Street
Basement
Crawl Space
Directions
Arnold to Bay park on street or lot behind building accessible via Arnold Ave or next to the beanery
Subdivision
Pt Pleasant Bch
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 Agency:
Keller Williams Realty Spring Lake
Listed By:
Diane Glander
(848) 220-7120
Added: Mar 13
Changed: Oct 2
Last Checked: Oct 7 at 2:06AM
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.
Investment Insights
Based on property information with market context.
This mixed-use property at 511 Bay Avenue combines two retail storefronts with two residential apartments within a 7,956-square-foot building. The property is fully occupied, with retail and residential occupants in place. One storefront has been renovated, while the second is described as being in solid condition. The apartments are functional and include early-2000s finishes. Approximately 1,000 square feet of second-floor space is currently used for tenant storage without charge and may offer future expansion or conversion potential subject to approvals.
The property is located in Point Pleasant Beach, New Jersey, in Ocean County. On-street parking serves the building, with public water and public sewer. Heating includes forced air and baseboard systems; residential electric heat and commercial gas heat are tenant-paid. Current occupants are on month-to-month arrangements, creating a documented lease-structure consideration for a new owner.
The property is located in Point Pleasant Beach, New Jersey, in Ocean County. On-street parking serves the building, with public water and public sewer. Heating includes forced air and baseboard systems; residential electric heat and commercial gas heat are tenant-paid. Current occupants are on month-to-month arrangements, creating a documented lease-structure consideration for a new owner.
Key Highlights
- Mixed‑use building includes 2 retail storefronts and 2 residential apartments
- 7,956‑square‑foot property on a 0.12‑acre lot
- Approximately 1,000 SF of second‑floor tenant storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$122,347
Cap Rate
7.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,446,940
$2.4M
Cap Rate 7%
$1,747,814
$1.7M
Cap Rate 9%
$1,359,411
$1.4M
Market Conditions
NOI Build-Up for 7,956 SF
Gross rent
$238.7K $30.00/SF
− Vacancy
−$16.2K −$2.04/SF
EGI
$222.4K $27.96/SF
− OpEx
−$100.1K −$12.58/SF
NOI
$122.3K $15.38/SF
Area
Ocean County, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,446,940
Cap Rate 7%
$1,747,814
Cap Rate 9%
$1,359,411
Alternative Uses
Best Use
Apartment 5plus
$1.75M
$1.53M – $2.04M
NOI $122,347 @ 7.0% cap · market cap 7.89%
Second Best
Retail
$1.62M
$1.42M – $1.89M
NOI $113,558 @ 7.0% cap · market cap 7.33%
Theoretical Best
Office A
$2.08M
$1.82M – $2.42M
NOI $145,423 @ 7.0% cap · market cap 9.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully occupied building combines retail storefronts with residential apartments and includes additional second-floor storage area.
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: Mixed‑use building includes 2 retail storefronts and 2 residential apartments; 7,956‑square‑foot property on a 0.12‑acre lot; Approximately 1,000 SF of second‑floor tenant storage
