Downtown Corner Retail
For Sale
Contact for pricing
601 Lake Avenue, Asbury Park, NJ 07712
The ground-level premises can be divided, offering flexibility for different retail configurations.
Property Size4,000 SF
Price / SF$0.01
Days on Market230
Property Features for 601 Lake Avenue
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Retail
Additional Details
Floor
Ground
Corner Location
Yes
Listing Agency:
Sackman Realty
Listed By:
Morgan Sackman · License #1435259
(732) 798-8188
Source:
Defelicerealtygroup
Added: Mar 17
Changed: Oct 31
Last Checked: Oct 31 at 3:26AM
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 Sackman Realty
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 4,000 SF ground-floor retail premises occupies a corner in downtown Asbury Park and can be divided. The property has frontage and views of Wesley Lake. A liquor license is also available for purchase.
The surrounding retail and entertainment district includes restaurants, boutiques, the beach and boardwalk, and year-round attractions. Local events and seasonal tourism contribute to activity in the area.
The surrounding retail and entertainment district includes restaurants, boutiques, the beach and boardwalk, and year-round attractions. Local events and seasonal tourism contribute to activity in the area.
Key Highlights
- 4,000 SF of ground‑floor retail space
- Corner position with frontage and views of Wesley Lake
- Space can be divided
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,093
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,141,860
$1.1M
Cap Rate 7%
$815,614
$815.6K
Cap Rate 9%
$634,367
$634.4K
Market Conditions
NOI Build-Up for 4,000 SF
Gross rent
$86.4K $21.60/SF
− Vacancy
−$4.8K −$1.21/SF
EGI
$81.6K $20.39/SF
− OpEx
−$24.5K −$6.12/SF
NOI
$57.1K $14.27/SF
Area
Monmouth County, NJ
Vacancy
5.60%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,141,860
Cap Rate 7%
$815,614
Cap Rate 9%
$634,367
Alternative Uses
Best Use
Retail
$815.6K
$713.7K – $951.6K
NOI $57,093 @ 7.0% cap · market cap 190,310.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.04M
$913.9K – $1.22M
NOI $73,114 @ 7.0% cap · market cap 243,713.33%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
652
Businesses Nearby
Explore this area
Business Placement
Demographics for 07712, NJ
39,397
Population
19,321
Households
2
Avg Household Size
42
Median Age
49%
College-Educated
93%
High-School Grad
12.2 sq mi
ZIP Area
3,229
Density / Sq Mi
$95,691
Median Household Income
$51,924
Median Earnings
$1,496
Median Rent
$578,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Retail space - The ground-level premises can be divided, offering flexibility for different retail configurations.
Where is this retail space located?
The property is located at 601 Lake Avenue Asbury Park, NJ.
What are key features of this property?
This property features: 4,000 SF of ground‑floor retail space; Corner position with frontage and views of Wesley Lake; Space can be divided
