Office Building with Licensed
For Sale
$599,000
641 Beach Avenue, Manahawkin, NJ 08050
Block office building with licensed heliport and expansive parking lot on a low-traffic route to Long Beach Island.
Property Size2,332 SF
Price / SF$256.86
Days on Market612
Property Features for 641 Beach Avenue
General Information
Standard status
Active
Size
2,332 SF
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$8,489
Amenities
Central Air
3
Parking.
Lighted, On Site, Open Parking.
Dead End Street.
Listing Agency:
Van Dyk Group
(609) 698-6900
Listed By:
Richard Saparito · License #0343579
(609) 698-6900
Source:
Xome
Added: Dec 7, 2024
Changed: Aug 9
Last Checked: Aug 11 at 5:27AM
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 Van Dyk Group
Investment Insights
Based on property information with market context.
This offering includes a block construction office building with approximately 2,300 square feet of versatile interior space, accompanied by a licensed heliport. The site also features an expansive parking lot designed for convenient client and guest access.
Located on Beach Avenue in Manahawkin, the property is described as being in a low-traffic area leading to Long Beach Island, providing a direct connection to the region’s popular shore destinations.
The building and heliport combination supports a range of aviation-adjacent and specialty business uses, with parking available to serve day-to-day operations and visitors.
Located on Beach Avenue in Manahawkin, the property is described as being in a low-traffic area leading to Long Beach Island, providing a direct connection to the region’s popular shore destinations.
The building and heliport combination supports a range of aviation-adjacent and specialty business uses, with parking available to serve day-to-day operations and visitors.
Key Highlights
- 2,300 SF block commercial building with central air cooling and on‑site parking
- Licensed heliport on the property
- Expansive open parking area (lighted, on‑site, open parking)
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
$35,680
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
5.96%
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%
$713,600
$713.6K
Cap Rate 7%
$509,714
$509.7K
Cap Rate 9%
$396,444
$396.4K
Market Conditions
NOI Build-Up for 2,332 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
$70.0K $30.00/SF
− Vacancy
−$22.4K −$9.60/SF
EGI
$47.6K $20.40/SF
− OpEx
−$11.9K −$5.10/SF
NOI
$35.7K $15.30/SF
Area
Ocean County, NJ
Vacancy
32.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
25.00%
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%
$713,600
Cap Rate 7%
$509,714
Cap Rate 9%
$396,444
Alternative Uses
Best Use
Office B
$509.7K
$446.0K – $594.7K
NOI $35,680 @ 7.0% cap · market cap 5.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$608.9K
$532.8K – $710.4K
NOI $42,625 @ 7.0% cap · market cap 7.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
265
Businesses Nearby
Explore this area
Business Placement
Demographics for 08050, NJ
26,507
Population
14,182
Households
1.9
Avg Household Size
45
Median Age
39%
College-Educated
94%
High-School Grad
30.9 sq mi
ZIP Area
858
Density / Sq Mi
$115,456
Median Household Income
$60,458
Median Earnings
$1,756
Median Rent
$377,100
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Aviation real estate - Block office building with licensed heliport and expansive parking lot on a low-traffic route to Long Beach Island.
Where is this aviation real estate located?
The property is located at 641 Beach Avenue Manahawkin, NJ.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 2,300 SF block commercial building with central air cooling and on‑site parking; Licensed heliport on the property; Expansive open parking area (lighted, on‑site, open parking)
