Two-Building Mixed-Use
For Sale
$2,950,000
515-525 Bay Avenue, Point Pleasant Beach, NJ 08742
Commercial Sale, Point Pleasant Beach, NJ
Property Size5,609 SF
Price / SF$525.94
Days on Market97
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) 513-8658
Added: Jul 13
Changed: Oct 17
Last Checked: Oct 17 at 4:06AM
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.
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Investment Insights
Based on property information with market context.
This mixed-use property comprises two buildings with 5,609 square feet of total property size and approximately 2,300 SF of combined retail space. The residential component includes two 2-bedroom, 1-bath apartments and two 1-bedroom, 1-bath apartments. Baseboard and forced-air heating are present, with public water and public sewer serving the property.
Six tenant parking spaces are provided in a paved rear lot, while additional parking is available in nearby public lots. The property is situated near Route 35, the train station, and the boardwalk, within a year-round destination offering restaurants, shops, and antique centers. General Commercial zoning applies.
Six tenant parking spaces are provided in a paved rear lot, while additional parking is available in nearby public lots. The property is situated near Route 35, the train station, and the boardwalk, within a year-round destination offering restaurants, shops, and antique centers. General Commercial zoning applies.
Key Highlights
- Two mixed‑use buildings with approximately 2,300 SF of combined retail space
- Two 2‑bedroom, 1‑bath apartments and two 1‑bedroom, 1‑bath apartments
- 5,609 square feet of total property size
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$86,255
Cap Rate
2.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,725,100
$1.7M
Cap Rate 7%
$1,232,214
$1.2M
Cap Rate 9%
$958,389
$958.4K
Market Conditions
NOI Build-Up for 5,609 SF
Gross rent
$168.3K $30.00/SF
− Vacancy
−$11.4K −$2.04/SF
EGI
$156.8K $27.96/SF
− OpEx
−$70.6K −$12.58/SF
NOI
$86.3K $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%
$1,725,100
Cap Rate 7%
$1,232,214
Cap Rate 9%
$958,389
Alternative Uses
Best Use
Apartment 5plus
$1.23M
$1.08M – $1.44M
NOI $86,255 @ 7.0% cap · market cap 2.92%
Second Best
Retail
$1.14M
$1.00M – $1.33M
NOI $80,059 @ 7.0% cap · market cap 2.71%
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.
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Current Use
Lease Details
4
Residential units
Yes
Highway access
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - General Commercial zoning supports a combination of retail space and residential apartments in a year-round coastal destination.
Where is this mixed-use property 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 mixed‑use buildings with approximately 2,300 SF of combined retail space; Two 2‑bedroom, 1‑bath apartments and two 1‑bedroom, 1‑bath apartments; 5,609 square feet of total property size
