Property photo 1
0 Baths
7,956 sqft

$1,550,000

511 Bay Avenue, Point Pleasant Beach NJ, 08742

Price per sqft$194.82
Property size7,956 sqft
Property typeCommercial

Overview

Active

Listed Mar 14, 2026

Updated Aug 1

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

Additional information

MLS® ID
22606580

Interior Features

Bathrooms
0
Heating
Yes
Basement
No

Exterior Features

Lot Size
0.12 Acres

Courtesy of Keller Williams Realty Spring Lake with Diane Glander,
Listing Contact: 848-220-7120 

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Data last updated 5:26 AM UTC, 8/1/2026

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