Kathleen Boggs-Shaner

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511 Bay AvenuePoint Pleasant Beach, NJ 08742

Commercial · 7,956 Sq. ft. | 0.12 Acres
$1,600,000 Active

511 Bay Avenue Overview

Time on Site:
108 days
Visits:
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

Listing provided courtesy of Keller Williams Realty Spring Lake- MLS# 22606580MLS Provider
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511 Bay Avenue Facts & Features

  • Type Commercial
  • Sq. ft. 7,956
  • Price/Sq.ft. $201
  • Lot 0.12 Acres

Details

General

Association/HOA

  • Association Amenities: Laundry

Business Information

  • Business Type: Retail,Apartments,Professional/Office

Location/Region

  • County Or Parish: Ocean
  • MLS Area Major: Pt Pleasant Bch
  • MLS Area Minor: Point Pleasant Beach (PPB)
  • Subdivision Name: None

Tax Information

  • Tax Assessed Value: $0.00

General Information

  • Exclusions: Tenants posessions
  • Parcel Number: 26-00091-01-00025-02
  • Property Sub Type: Mixed Use
  • Property Type: Commercial Sale

Interior

Parking Information

  • Garage: No

Beds/Baths

  • Bathrooms Total: 0

Building Interior

  • Building Area Total: 7956.0

General Information

  • Basement: Crawl Space
  • Fireplaces Total: 0
  • Stories: 2

Exterior

Parking Information

  • Parking Features: On Street

Lot Information

  • Lot Size Acres: 0.12
  • Lot Size Area: 0.12
  • Lot Size Square Feet: 5227.2
  • Water Source: Public

General Information

  • Sewer: Public Sewer

511 Bay Avenue Neighborhood

Community

08742 (POINT PLEASANT BEACH) Demographics

45
Median Age
3,317
Population Density (per sq. mile)
56%
College Educated
$100,394
Estimated Median Income
7,974
Estimated Total Home Owners
2,111
Estimated Total Renters
79% / 21%
Estimated Owner / Renter Divide
2
Estimated Average Household Size
Community data courtesy of LiveBy, Inc.
* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

511 Bay Avenue Market Data

Based on the last 30 days in this zip code

$1,618,166
Average List Price
$4,250
Average Price per Square Foot
1
Properties Sold
74
Average Days on Market
6
Properties for Sale
Calculations provided by Reliance Network

511 Bay Avenue History

Date Event Value Agent
6/26/2026Source: Monmouth Ocean Regional MLS Price Reduction
$1,600,000 -11.1%
4/10/2026Source: Monmouth Ocean Regional MLS Price Reduction
$1,800,000 -10.0%
3/14/2026Source: Monmouth Ocean Regional MLS Added to Database
March 14, 2026
10/5/2023Source: Monmouth Ocean Regional MLS Added to Database
October 05, 2023