Building Details

Year Built 1900

Buildings 1

Listing Agency: RE/MAX Bay Point Realtors

Listed By: James Hannam · License #4217851 Show Phone

Source: Soldbypattie

Added: Aug 7 Changed: Oct 2 Last Checked: Oct 16 at 1:01PM

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Investment Insights

Based on property information with market context.

This 3,229-square-foot mixed-use building, constructed in 1900, includes a retail area exceeding 1,000 SF and two residential apartments. One apartment occupies the second floor and provides two bedrooms, one bathroom, walk-up attic access, and a large attic area. The rear residence spans two levels and includes two bedrooms, one bathroom, and a front porch.

The property has tenant parking behind the building, with additional public parking lots nearby. Its downtown Point Pleasant Beach setting places the building near restaurants, shops, antique centers, the boardwalk, the train station, and Route 35. General Commercial zoning governs the property.

Key Highlights

• 3,229 SF mixed‑use building constructed in 1900
• Retail space exceeding 1,000 SF
• Two 2‑bedroom, 1‑bathroom apartments

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$54,041

Cap Rate

3.38%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,080,820 $1.1M

Cap Rate 7%

$772,014 $772.0K

Cap Rate 9%

$600,456 $600.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,229 SF

Gross rent

$82.5K $25.56/SF

− Vacancy

−$5.3K −$1.65/SF

EGI

$77.2K $23.91/SF

− OpEx

−$23.2K −$7.17/SF

NOI

$54.0K $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%

$1,080,820

Cap Rate 7%

$772,014

Cap Rate 9%

$600,456

Alternative Uses

Best Use

Multifamily LT 5

$772.0K

$675.5K – $900.7K (±1% cap)

NOI $54,041 @ 7.0% cap · market cap 3.38%

Second Best

Apartment 5plus

$709.4K

$620.7K – $827.6K (±1% cap)

NOI $49,656 @ 7.0% cap · market cap 3.10%

Theoretical Best

Office A

$843.2K

$737.8K – $983.7K (±1% cap)

NOI $59,021 @ 7.0% cap · market cap 3.69%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Storefront properties

Suggested Use

Top Pick Dental Office Law Firm Hair Salon Spa & Massage Center Restaurant Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

354

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

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - The property combines a storefront with two residential apartments under General Commercial zoning.

Where is this mixed-use property located?

The property is located at 517521 517-521 Bay Ave Point Pleasant Beach, NJ.

What is the asking price?

The asking price for this property is $1,599,900.

What are key features of this property?

This property features: 3,229 SF mixed‑use building constructed in 1900; Retail space exceeding 1,000 SF; Two 2‑bedroom, 1‑bathroom apartments