Mixed-Use Storefront with Two
For Sale
$1,279,000
834 Asbury Avenue, Ocean City, NJ 08226
First-floor commercial space is paired with two tenant-occupied residential units above.
Property Size2,700 SF
Price / SF$473.70
Days on Market222
Property Features for 834 Asbury Avenue
General Information
Standard status
Active
Size
2,700 SF
Property subtype
MULTI-FAMILY / Other
Units
Unit Mix
1 x 3BR, 1 x 2BR
Multifamily Units
2
Additional Details
Floor
1
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$6,210
Amenities
Forced Air, Gas-Natural
Building Details
Buildings
1
Units
3
Tenancy
Multi
Listing Agency:
COMPASS RE - Avalon Dune
(609) 675-1575
Listed By:
Henry "Disston" Vanderslice · License #0903201
(609) 675-1575
Source:
Compass
Added: Jan 21
Changed: Aug 29
Last Checked: Aug 30 at 11:11PM
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 COMPASS RE - Avalon Dune
Investment Insights
Based on property information with market context.
This mixed-use property combines a first-floor commercial storefront with two residential apartments on the levels above. The commercial portion measures approximately 2700 square feet, while the apartments include one 3-bedroom unit and one 2-bedroom unit. Both residential units are currently tenant occupied. Interior mechanical features include forced-air heating and natural gas service.
The property is located on Asbury Avenue in Ocean City, New Jersey, providing a combined commercial and residential configuration within an established corridor. The layout supports storefront operations alongside existing residential occupancy.
The property is located on Asbury Avenue in Ocean City, New Jersey, providing a combined commercial and residential configuration within an established corridor. The layout supports storefront operations alongside existing residential occupancy.
Key Highlights
- Mixed‑use property with a first‑floor commercial storefront
- Approximately 2700 square feet of commercial space
- Two residential units are currently tenant occupied
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
$36,736
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
2.87%
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%
$734,720
$734.7K
Cap Rate 7%
$524,800
$524.8K
Cap Rate 9%
$408,178
$408.2K
Market Conditions
NOI Build-Up for 2,700 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
$70.3K $26.04/SF
− Vacancy
−$3.5K −$1.30/SF
EGI
$66.8K $24.74/SF
− OpEx
−$30.1K −$11.13/SF
NOI
$36.7K $13.61/SF
Area
Cape May County, NJ
Vacancy
5.00%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
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%
$734,720
Cap Rate 7%
$524,800
Cap Rate 9%
$408,178
Alternative Uses
Best Use
Apartment 5plus
$524.8K
$459.2K – $612.3K
NOI $36,736 @ 7.0% cap · market cap 2.87%
Second Best
Retail
$447.1K
$391.2K – $521.6K
NOI $31,298 @ 7.0% cap · market cap 2.45%
Theoretical Best
Office A
$826.5K
$723.2K – $964.2K
NOI $57,853 @ 7.0% cap · market cap 4.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,627
Businesses Nearby
56k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 47%
Groceries 32%
Home Improvements & Furnishings 12%
Shops & Services 9%
ACME Markets
Groceries
18,185 visits/mo
0.1 miles
McDonald's
Dining
9,114 visits/mo
0.2 miles
Starbucks
Dining
9,021 visits/mo
0.4 miles
Dunkin' Donuts
Dining
4,788 visits/mo
0.3 miles
TD Bank
Shops & Services
3,746 visits/mo
0.2 miles
Demographics for 08226, NJ
11,229
Population
20,905
Households
0.5
Avg Household Size
57
Median Age
55%
College-Educated
97%
High-School Grad
6.8 sq mi
ZIP Area
1,651
Density / Sq Mi
$101,782
Median Household Income
$54,323
Median Earnings
$1,670
Median Rent
$719,100
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?
Mixed-use property - First-floor commercial space is paired with two tenant-occupied residential units above.
Where is this mixed-use property located?
The property is located at 834 Asbury Avenue Ocean City, NJ.
What is the asking price?
The asking price for this property is $1,279,000.
What are key features of this property?
This property features: Mixed‑use property with a first‑floor commercial storefront; Approximately 2700 square feet of commercial space; Two residential units are currently tenant occupied
