Downtown Mixed-Use Income
For Sale
$2,950,000
515-525 Bay Avenue, Point Pleasant Beach, NJ 08742
Two multi-use buildings include apartments and approximately 2,300 SF of combined retail space, with rear tenant parking for six cars.
Property Size5,609 SF
Price / SF$525.94
Days on Market192
Property Features for 515-525 Bay Avenue
General Information
Standard status
Active
Size
5,609 SF
Total Parking Spaces
6
Property subtype
Commercial
Zoning
General Commercial
Additional Details
Multifamily Units
4
Listing Agency:
RE/MAX Bay Point Realtors
Listed By:
James Hannam · License #4217851
(732) 899-8202
Source:
Actionplusrealty
Added: Apr 9
Changed: Oct 16
Last Checked: Oct 16 at 9:09AM
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 RE/MAX Bay Point Realtors
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This offering includes two multi-use buildings at 515–525 Bay Avenue, designed to support both rental housing and retail use. The apartment mix consists of two 2-bedroom, 1-bath units and two 1-bedroom, 1-bath units. The buildings provide combined retail space of approximately 2,300 square feet, and the seller indicates the opportunity to use your vision to enhance the existing units.
Tenant parking is provided for six cars in the rear of the property, with additional parking available in nearby public lots. The property is located in downtown Point Pleasant Beach, close to Route 35, the train station, and the boardwalk, supporting year-round activity. The property is zoned General Commercial.
The combination of multiple residential units plus retail space, along with on-site rear parking and access to downtown amenities, supports a mixed-use configuration within a General Commercial zoning setting.
Tenant parking is provided for six cars in the rear of the property, with additional parking available in nearby public lots. The property is located in downtown Point Pleasant Beach, close to Route 35, the train station, and the boardwalk, supporting year-round activity. The property is zoned General Commercial.
The combination of multiple residential units plus retail space, along with on-site rear parking and access to downtown amenities, supports a mixed-use configuration within a General Commercial zoning setting.
Key Highlights
- Two multi‑use buildings in downtown Point Pleasant Beach with approx. 2,300 SF combined retail space
- Apartment mix: 2 two‑bedroom, 1‑bath units and 2 one‑bedroom, 1‑bath units
- Rear tenant parking for 6 cars, with additional parking available in nearby public lots
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$93,873
Cap Rate
3.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,877,460
$1.9M
Cap Rate 7%
$1,341,043
$1.3M
Cap Rate 9%
$1,043,033
$1.0M
Market Conditions
NOI Build-Up for 5,609 SF
Gross rent
$143.4K $25.56/SF
− Vacancy
−$9.3K −$1.65/SF
EGI
$134.1K $23.91/SF
− OpEx
−$40.2K −$7.17/SF
NOI
$93.9K $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%
$1,877,460
Cap Rate 7%
$1,341,043
Cap Rate 9%
$1,043,033
Alternative Uses
Best Use
Multifamily LT 5
$1.34M
$1.17M – $1.56M
NOI $93,873 @ 7.0% cap · market cap 3.18%
Second Best
Apartment 5plus
$1.23M
$1.08M – $1.44M
NOI $86,255 @ 7.0% cap · market cap 2.92%
Theoretical Best
Office A
$1.46M
$1.28M – $1.71M
NOI $102,524 @ 7.0% cap · market cap 3.48%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
4
Residential units
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
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two multi-use buildings include apartments and approximately 2,300 SF of combined retail space, with rear tenant parking for six cars.
Where is this duplex located?
The property is located at 515-525 Bay Avenue Point Pleasant Beach, NJ.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: Two multi‑use buildings in downtown Point Pleasant Beach with approx. 2,300 SF combined retail space; Apartment mix: 2 two‑bedroom, 1‑bath units and 2 one‑bedroom, 1‑bath units; Rear tenant parking for 6 cars, with additional parking available in nearby public lots
