4-Unit Quadplex with Retail
For Sale
$2,950,000
515-525 Bay Avenue, Point Pleasant Beach, NJ 08742
COMMERCIAL - Point Pleasant Beach, NJ
Property Size5,609 SF
Price / SF$525.94
Days on Market47
Property Features for 515-525 Bay Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
6
Parking features
Paved or Surfaced
Directions
Route 35 North or South to West on Arnold Avenue. Left on Bay Avenue. Building is on the right. Route 88 to North on Bay Avenue.
Subdivision
Pt Pleasant Bch
Standard status
Active
APN
26-00091-01-00026
Size
5,609 SF
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
15422
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Forced Air
Water source
Public
Building Details
Floors in Building
2
Listing Agency:
RE/MAX Bay Point Realtors · RE/MAX International
(732) 899-8202
Listed By:
James Hannam · License #4217851
(732) 899-8202
Added: Jul 13
Changed: Aug 7
Last Checked: Aug 28 at 5:06PM
MLS# 22621318
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 4-unit quadplex is offered as two multi-use buildings with residential and retail components. The property includes combined retail space of approximately 2,300 SF and four apartments: two 2-bedroom, 1-bath units and two 1-bedroom, 1-bath units. The space is designed for ongoing use with tenant parking located in the rear of the property and additional parking available in nearby public lots.
Zoned General Commercial, the buildings are positioned in downtown Point Pleasant Beach. The area is described as a year-round destination with restaurants, shops, and antique centers, and the property is close to Route 35, the train station, and the boardwalk.
The buildings are served by public water and public sewer, with heating systems that include forced air and baseboard. Parking is provided via paved or surfaced areas.
Zoned General Commercial, the buildings are positioned in downtown Point Pleasant Beach. The area is described as a year-round destination with restaurants, shops, and antique centers, and the property is close to Route 35, the train station, and the boardwalk.
The buildings are served by public water and public sewer, with heating systems that include forced air and baseboard. Parking is provided via paved or surfaced areas.
Key Highlights
- Two multi‑use buildings with combined retail space of approximately 2,300 SF
- 4 apartments total: two 2‑bedroom, 1‑bath units and two 1‑bedroom, 1‑bath units
- Zoned General Commercial
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$93,873
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.18%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
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.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Mixed-use quadplex with retail space plus apartments, zoned General Commercial, with tenant parking in the rear.
Where is this quadplex 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 with combined retail space of approximately 2,300 SF; 4 apartments total: two 2‑bedroom, 1‑bath units and two 1‑bedroom, 1‑bath units; Zoned General Commercial
