Commercial Building with Tenant in
615 Park Place Avenue, Bradley Beach, NJ 07720
For Sale
$1,425,000
Pending
Well-maintained commercial building with a long-term tenant and ample parking.
Property Size3,962 SF
Lot Size0.22 Acres
Days on Market766
Property Features for 615 Park Place Avenue
General Information
Standard status
Size
Lot size
Property subtype
Taxes and HOA fees
Annual Taxes
Amenities
Central air
Corner Lot
Central Air Cooling
Flat Roof
Forced Air Heating
Handicapped
Lighted
Off Street
On Site
Paver Block
Tile Flooring
Building Details
Year Built
Listing Agency:
REALTY ONE GROUP EMERGE
(732) 477-0200
Listed By:
MARY BIANCHI · License #1866003
(732) 684-9758
Source:
Corcoran
Added: Oct 5, 2024
Changed: Aug 8
Last Checked: Aug 8 at 4:42AM
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 REALTY ONE GROUP EMERGE
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This commercial building, with a size of 3962 square feet, is available for sale. It benefits from a location with high visibility and ample parking. The property is currently occupied by a multi-year tenant operating under a NNN lease as a laundromat. The interior layout includes separate office and storage areas. Recent upgrades include a new sewer line, newer central air conditioning, and a newer boiler. The operating business is not part of the sale.
Key Highlights
- High visibility location with ample parking
- Multi‑year tenant in place with NNN lease
- Well‑maintained property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,551
Cap Rate
3.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,131,020
$1.1M
Cap Rate 7%
$807,871
$807.9K
Cap Rate 9%
$628,344
$628.3K
Market Conditions
NOI Build-Up for 3,962 SF
Gross rent
$85.6K $21.60/SF
− Vacancy
−$4.8K −$1.21/SF
EGI
$80.8K $20.39/SF
− OpEx
−$24.2K −$6.12/SF
NOI
$56.6K $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%
$1,131,020
Cap Rate 7%
$807,871
Cap Rate 9%
$628,344
Alternative Uses
Best Use
Retail
$807.9K
$706.9K – $942.5K
NOI $56,551 @ 7.0% cap · market cap 3.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.03M
$905.2K – $1.21M
NOI $72,419 @ 7.0% cap · market cap 5.08%
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
1,164
Businesses Nearby
32k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 66%
Dining 34%
Burger King
Dining
7,250 visits/mo
0.4 miles
Chase Bank
Shops & Services
6,983 visits/mo
0.3 miles
Speedway
Shops & Services
5,341 visits/mo
0.1 miles
The UPS Store
Shops & Services
3,924 visits/mo
0.5 miles
Jersey Mike's Subs
Dining
3,543 visits/mo
0.5 miles
Demographics for 07720, NJ
4,175
Population
2,836
Households
1.5
Avg Household Size
47
Median Age
67%
College-Educated
93%
High-School Grad
0.6 sq mi
ZIP Area
6,958
Density / Sq Mi
$94,722
Median Household Income
$52,661
Median Earnings
$1,710
Median Rent
$857,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Retail space in Monmouth County, NJ
Properties on Market for Retail space in Monmouth County
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Retail space - Well-maintained commercial building with a long-term tenant and ample parking.
Where is this retail space located?
The property is located at 615 Park Place Avenue Bradley Beach, NJ.
What is the asking price?
The asking price for this property is $1,425,000.
What are key features of this property?
This property features: High visibility location with ample parking; Multi‑year tenant in place with NNN lease; Well‑maintained property
