Versatile Retail/Workshop
For Sale
$350,000
Pending
63 E Bay Ave, Manahawkin, NJ
A flexible storefront building with prior garage and retail use, offering space to support a range of business concepts.
Property Size1,800 SF
Days on Market73
Property Features for 63 E Bay Ave
General Information
Standard status
Pending
Size
1,800 SF
Taxes and HOA fees
Annual Taxes
$6,702
Listing Agency:
Imperial Real Estate Agency
(732) 905-5511
Listed By:
Moshe Rosenbaum · License #1756500
(732) 905-5511
Source:
Exprealty
Added: Jun 16
Changed: Aug 26
Last Checked: Aug 26 at 10:18AM
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 Imperial Real Estate Agency
Investment Insights
Based on property information with market context.
This property is a 1,832-square-foot commercial building that has been used previously as a garage and, most recently, as a retail store. The space offers a flexible layout suited to businesses looking for a ready-to-operate commercial footprint, with improvements and historical use that align well with light business activity and storefront retail needs.
Located at 63 E Bay Avenue in Manahawkin, New Jersey, the building sits along East Bay Avenue in Stafford Township within Ocean County. The seller’s remarks note it is just minutes from the Jersey Shore, which may support tenant interest for operators seeking a coastal-area customer draw.
For buyers and tenants, this configuration can fit retail users who want a dedicated street-facing commercial presence, as well as operators looking for a property with prior garage-to-retail adaptability. Because the building has already been used for both garage and retail purposes, it may be a practical option for entrepreneurs and growing businesses seeking a space they can tailor to their specific concept. For details on the current condition and what best fits your operating needs, schedule a private tour.
Located at 63 E Bay Avenue in Manahawkin, New Jersey, the building sits along East Bay Avenue in Stafford Township within Ocean County. The seller’s remarks note it is just minutes from the Jersey Shore, which may support tenant interest for operators seeking a coastal-area customer draw.
For buyers and tenants, this configuration can fit retail users who want a dedicated street-facing commercial presence, as well as operators looking for a property with prior garage-to-retail adaptability. Because the building has already been used for both garage and retail purposes, it may be a practical option for entrepreneurs and growing businesses seeking a space they can tailor to their specific concept. For details on the current condition and what best fits your operating needs, schedule a private tour.
Key Highlights
- 1,800+ sq. ft. commercial building on East Bay Avenue in Stafford Township, Ocean County
- Previously used as a garage and most recently as a retail store
- Flexible storefront layout suited for a range of business concepts
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$25,692
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.34%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$513,840
$513.8K
Cap Rate 7%
$367,029
$367.0K
Cap Rate 9%
$285,467
$285.5K
Market Conditions
NOI Build-Up for 1,800 SF
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.
Gross rent
$38.9K $21.60/SF
− Vacancy
−$2.2K −$1.21/SF
EGI
$36.7K $20.39/SF
− OpEx
−$11.0K −$6.12/SF
NOI
$25.7K $14.27/SF
Area
Ocean 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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$513,840
Cap Rate 7%
$367,029
Cap Rate 9%
$285,467
Alternative Uses
Best Use
Retail
$367.0K
$321.2K – $428.2K
NOI $25,692 @ 7.0% cap · market cap 7.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$470.0K
$411.3K – $548.4K
NOI $32,901 @ 7.0% cap · market cap 9.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
190
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Peggy Ann The Girls Florist — 185 N Main St, Manahawkin, NJ 08050
Frequently Asked Questions
What type of property is this?
Storefront property - A flexible storefront building with prior garage and retail use, offering space to support a range of business concepts.
Where is this storefront property located?
The property is located at 63 E Bay Ave Manahawkin, NJ.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 1,800+ sq. ft. commercial building on East Bay Avenue in Stafford Township, Ocean County; Previously used as a garage and most recently as a retail store; Flexible storefront layout suited for a range of business concepts
