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$ 1,600,000
Est. payment | /mo
7,956 SqFt
$ 1,600,000
Est. payment | /mo
7,956 SqFt
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 7,956 sqft
Price per Sqft $201
Municipality Point Pleasant Beach (PPB)
MLS Listing ID 22606580
Lot Size 5,227 Sqft
Acres 0.12
Property Sub-Type Mixed Use
Source MOREMLS (Monmouth Ocean Regional REALTORS®)
Property 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
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
Location
State NJ
County Ocean
Area Pt Pleasant Bch
Building/Complex Name None
Direction Arnold to Bay park on street or lot behind building accessible via Arnold Ave or next to the beanery
Rooms
Basement Crawl Space
Interior
Heating Baseboard, Forced Air
Exterior
Parking Features On Street
Amenities Available Laundry
Private Pool No
Building
Sewer Public Sewer
Water Public
Others
Senior Community No
Tax ID 26-00091-01-00025-02
Listed by Keller Williams Realty Spring Lake
Nearby Locations