Storefront Retail Building with Central
For Sale
$674,900
688 E Bay Avenue, Barnegat, NJ 08005
COMMERCIAL - Barnegat, NJ
Property Size2,816 SF
Lot Size0.22 Acres
Price / SF$239.67
Days on Market97
Property Features for 688 E Bay Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Rooms
Basement
Parking
20
Parking features
Parking Lot, Off Street
Security features
Security System
Interior features
Refrigeration
Exterior features
Lighting
Basement
Full
Subdivision
Barnegat
Lot features
Level, Sidewalks
Directions
Rte 9 to east on Bay ave to #688
Standard status
Active
APN
01-00250-0000-00024
Size
2,816 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
10189
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1920
Floors in Building
2
Flooring type
Wood, Vinyl, Tile
Building materials
Concrete
Roof type
Shingle
Listing Agency:
Weichert Realtors-Ship Bottom
(609) 494-6000
Listed By:
Paul Metzger
(609) 494-6000
Added: May 26
Changed: Aug 7
Last Checked: Aug 30 at 5:06PM
MLS# 22615589
Copyright © 2026 More MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This classic storefront retail building sits on a 0.22-acre lot and contains 2,816 square feet. The building was constructed with concrete and features a shingle roof, wood/vinyl/tile flooring, and a basement. Interior amenities include refrigeration, while comfort systems include forced-air heating and central air. Exterior lighting is also provided, and the property offers parking via a parking lot with off-street spaces.
The property is located in a high-traffic area of Downtown Barnegat, with close proximity to the public docks and Bay Beach. The current business is operating under a favorable long-term lease in place, and the offering is for real estate only.
Town approvals are in place to expand into the rear yard and add a covered gazebo for additional seating and entertaining space.
The property is located in a high-traffic area of Downtown Barnegat, with close proximity to the public docks and Bay Beach. The current business is operating under a favorable long-term lease in place, and the offering is for real estate only.
Town approvals are in place to expand into the rear yard and add a covered gazebo for additional seating and entertaining space.
Key Highlights
- 0.22‑acre lot with 2,816 SF storefront retail building
- 1920 construction with concrete exterior and shingle roof
- Forced‑air heating and central air plus refrigeration
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
$40,194
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%
$803,880
$803.9K
Cap Rate 7%
$574,200
$574.2K
Cap Rate 9%
$446,600
$446.6K
Market Conditions
NOI Build-Up for 2,816 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
$60.8K $21.60/SF
− Vacancy
−$3.4K −$1.21/SF
EGI
$57.4K $20.39/SF
− OpEx
−$17.2K −$6.12/SF
NOI
$40.2K $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%
$803,880
Cap Rate 7%
$574,200
Cap Rate 9%
$446,600
Alternative Uses
Best Use
Retail
$574.2K
$502.4K – $669.9K
NOI $40,194 @ 7.0% cap · market cap 5.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$735.3K
$643.4K – $857.9K
NOI $51,472 @ 7.0% cap · market cap 7.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
233
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 08005, NJ
25,814
Population
11,671
Households
2.2
Avg Household Size
49
Median Age
34%
College-Educated
94%
High-School Grad
53.5 sq mi
ZIP Area
483
Density / Sq Mi
$92,548
Median Household Income
$47,209
Median Earnings
$1,949
Median Rent
$356,200
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Classic storefront on a 0.22-acre lot with central air, forced-air heating, and off-street parking in a high-traffic downtown area.
Where is this storefront property located?
The property is located at 688 E Bay Avenue Barnegat, NJ.
What is the asking price?
The asking price for this property is $674,900.
What are key features of this property?
This property features: 0.22‑acre lot with 2,816 SF storefront retail building; 1920 construction with concrete exterior and shingle roof; Forced‑air heating and central air plus refrigeration
