196 Bay Avenue
Highlands, NJ 07732
0.09 acres | #22525465
Description
Located in the heart of Highlands, this versatile mixed-use property offers exceptional visibility and multiple income streams. The first floor provides flexible space ideal for retail, office, or restaurant use, while the second floor features a spacious 1,500 sq. ft. apartment with 4 bedrooms.
Situated in a newly re-zoned district that allows for additional building height, the property presents a rare value-add opportunity. Investors can enhance returns by dividing the existing apartment into two 2-bedroom units and adding another story with two additional 2-bedroom apartments.
With rental demand in Highlands remaining strong thanks to proximity to the Sea Streak Ferry and the Jersey Shore, 2-bedroom units consistently average $2,500+ per month. This combination of development potential and its prime location makes this property a standout opportunity in one of Monmouth County's most sought-after communities!
Property Details
- ZoningMulti-Family, Retail, Residential, Multi-Use, Mixed, Live-in Professional, Commercial, Central Business
- Parking FeaturesUnpaved, In Alley, On Site, Parking Lot
- Cooling FeaturesCentral Air, Window Unit(s)
- InteriorHandicapped, Refrigeration
- Lot DescriptionSidewalks, Corner Lot
- RoofSkylights, Asphalt
- Sewer InformationPublic Sewer
- Property SubtypeMixed Use
- Property TypePurchase
- CountyMonmouth
- MLS #22525465
- MLS #22525465
- Utility SourcePublic
- Cost750000
- Acres0.09
- BasementSlab
- Cooling1
- Parking Spaces6
Location
Legal
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Last Updated: . Source: MONMOUTH
Listing Courtesy
Listing Agent: Stephen Candelino (#56223)
Listing Office: O'Brien Realty, LLC (#3660)
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