511 Bay Avenue, Point Pleasant Beach, NJ 08742
None · Ocean County
Key Facts
Description
Mixed-Use Investment Opportunity | Strong In-Place Cash Flow + Value-Add Upside | Point Pleasant Beach Well-positioned mixed-use property in Point Pleasant Beach featuring 2 retail storefronts and 2 residential apartments, fully occupied by long-term, stable tenants with exceptional occupancy history and strong retention. Income Overview Retail Unit 1: $3,100/month (20-year tenant) Retail Unit 2: $3,000/month (10-year tenant) 2BR Apartment: $1,900/month (8-year tenant) 3BR Apartment: $2,600/month (3-year tenant) Annual Gross Income: $127,200 Key Investment Highlights Strong in-place cash flow with minimal historical vacancy All tenants currently month-to-month but seeking long-term lease renewals Clear opportunity to stabilize leases and implement annual rent increases Resi feature electric heat (tenant-paid); commercial units utilize gas heat (tenant-paid) One retail space fully renovated; second retail unit offers solid condition with improvement upside Residential apartments are functional and well-maintained with early-2000s finishes Value-Add Opportunity Immediate lease-up potential through formal long-term lease conversions Built-in rental growth strategy via structured annual increases Approximately 1,000 SF of additional second-floor space currently used as tenant storage at no cost, offering future expansion or conversion potential (subject to approvals) Light cosmetic upgrades and strategic repositioning can further enhance rents and NOI Financial Summary Strong in-place income base Attractive stability from long-term tenancy profile Multiple levers for NOI growth through lease restructuring and space optimization Estimated upside through rent adjustments and optional expansion of usable square footage Investment Profile A rare opportunity to acquire a stabilized mixed-use asset with embedded upside in a high-demand coastal market, suitable for investors seeking: Durable cash flow Low turnover tenancy Lease-driven NOI growth Value-add repositioning potential in a prime shore location
Property Information
Property Type
Commercial Sale
Sub-Type
Mixed Use
Living Area
7,956 sq ft
Lot Size
0.12 acres
Ownership
NJ LIC RE
Days on Market
105
MLS® Listing#
22606580
Property Features
Appliances
Heating
Basement
Parking
Utilities
Sewer
Water Source
Financial Details
Parcel Number
26-00091-01-00025-02
Directions
Arnold to Bay park on street or lot behind building accessible via Arnold Ave or next to the beanery
Affordability Calculator
$320,000
Estimated monthly payment
$8,516/mo
Principal $1,280,000 · Est. interest $1,785,714 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Point Pleasant Beach, NJ
- $1,000,000
- Median Listing Price
- 53
- Median Days on Market
- 1,901
- Median Sq Ft
- $663
- Median Price / Sq Ft
- 382
- Active Listings
- This home’s price is 60% above the area median.
- Its price per sq ft is 70% below the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Point Pleasant Beach, NJ.
Location
Points of Interest in Point Pleasant Beach, NJ
Showing the Point Pleasant Beach area map.
Nearby Schools
Point Pleasant Beach High School
Secondary · 0.1 mi away
Point Beach Prep Preschool
School · 0.2 mi away
St Peter School
Secondary · 0.3 mi away
Champions at G. Harold Antrim Elementary School
Elementary · 0.4 mi away
G. Harold Antrim Elementary School
Elementary · 0.4 mi away
Tiny World Nursery School
School · 0.6 mi away
Ocean Road Elementary School
Elementary · 0.8 mi away
Point Pleasant High School
Secondary · 1.2 mi away
Memorial Middle School
Secondary · 1.3 mi away
Bay Head School
Elementary · 1.5 mi away
Brielle Elementary School
Elementary · 1.5 mi away
Nellie F Bennett Elementary School
Elementary · 1.7 mi away
Shore Academy Preschool
School · 1.9 mi away
My First School
School · 2.1 mi away
Manasquan High School
Secondary · 2.5 mi away
Manasquan Board of Education
Secondary · 2.5 mi away
Manasquan Elementary School
Elementary · 2.5 mi away
Sea Girt Elementary School
Elementary · 2.9 mi away
Midstreams Elementary School
Elementary · 3.0 mi away
Veterans Elementary School
Elementary · 3.4 mi away
Commute Calculator
Nearby Homes
Similar Homes Nearby
Similar Home Values
Comparable nearby listings and their asking prices.
| Address | Price | Beds | Baths | Sq Ft |
|---|---|---|---|---|
| 20 W 87th Street, Long Beach Twp, NJ | $1,149,000 | 4 | 2 | 1,128 |
| 44 E New York Ave, Somers Point, NJ | $1,149,000 | 4 | — | — |
| 20 W 87TH STREET, LONG BEACH TOWNSHIP, NJ | $1,149,000 | 4 | — | 1,128 |
| 20 W 87TH STREET, LONG BEACH TOWNSHIP, NJ | $1,149,000 | 4 | 2 | 1,128 |
| 308 New Jersey Avenue, Point Pleasant Beach, NJ | $1,149,895 | 3 | 2 | 1,842 |
| 1553 Littlehill Road, Point Pleasant, NJ | $1,149,900 | — | — | — |
Moving Cost Estimate
EXIT Agents in Point Pleasant Beach
Listing Courtesy: Keller Williams Realty Spring Lake - 8482207120
Presented by: Diane Glander