Downtown Mixed-Use Income
515-525 Bay Avenue Point Pleasant Beach, NJ 08742
515-525 Bay Avenue, Point Pleasant Beach, NJ, 08742
$2,950,000
For Sale
$2,950,000
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 Market8
Property Features for 515-525 Bay Avenue
General Information
- Standard status
- Active
- Size
- 5,609 SF
- Property subtype
- Commercial
Listing Agency
RE/MAX Bay Point Realtors
Listed by
James Hannam
(833) 740-1234
Source
Actionplusrealty
Added: Jul 10 Checked: Jul 17 at 3:05 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 RE/MAX Bay Point Realtors
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
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 | $143.4k | $25.56 |
| − Vacancy | −$9.3k | −$1.65 |
| EGI | $134.1k | $23.91 |
| − OpEx | −$40.2k | −$7.17 |
| NOI | $93.9k | $16.74 |
5,609 SF · lease $25.56/SF/yr · vacancy 6.46% · expense 30.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
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
