196 Bay Avenue, Highlands, NJ 07732

$687,600

Property Type: Commercial Square Footage: 3,200 Lot Size (sq. ft.): 3,920 Status: Closed

Current Price: $687,600 List Date: 1/12/2026 Last Modified: 2/26/2026

Overview

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.

Supplements: 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! *BACK ON MARKET DUE TO BUYERS FAILURE TO OBTAIN LOAN*

Listing Details MLS# 22601004

Contract Info

Property Sub-Type: Mixed Use
Sale: Yes
Lease: Yes
List Price/SqFt: 234.38
Lease Price: 3000
Lease Price Per/SqFt: 0.94

Location

House Number: 196
Street Name: Bay
Street Suffix: Avenue
County: Monmouth
Municipality: Highlands (HIG)
Postal City: Highlands
State: NJ
Zip Code: 07732
Area/Section: None
Directions: Located on corner of Bay Avenue and Valley in Highlands- use GPS for most accurate directions
Business District: Yes
Comm Distr: Yes
Historic Dist: Yes
Near Busstop: Yes
Res Distr: Yes

General Property Info

# Levels: 2
Available SqFt: 3200
Apx SqFt: 3200
Garage: No
# Parking Spaces: 6
Acreage: 0.09
Lot Dimensions: 50 x 75
# Car Garage: 0

Tax and Legal

Asmnt - Total: 150300
Deed Restricted: No
Special Assessment: No

Status Change Info

Under Contract Date: 2026-01-28
Sold Date: 2026-02-25

Income & Expenses

# Rental Units: Yes
Financials Per: Year

More Information

Use

Apartments: Yes
Bakeries/Shop: Yes
Bar/Tavern/Lounge: Yes
Barber/Salon: Yes
Convenience Store: Yes
Day Care: Yes
Deli/Catering: Yes
Dry Cleaner: Yes
Florist Shop: Yes
Laundromat: Yes
Professional Service: Yes
Professional/Office: Yes
Restaurant: Yes
Retail: Yes
Other: Yes

Interior

Fire Alarm: Yes
Handicapped: Yes
Refrigeration: Yes

Zoning

Central Business: Yes
Commercial: Yes
Live-in Professional: Yes
Mixed: Yes
Multi-Family: Yes
Multi-Use: Yes
Residential: Yes
Retail: Yes

Lot Description

Corner Lot: Yes
Sidewalks: Yes

Floors

Concrete: Yes
Linoleum: Yes

Electric

60 - 100 AMP: Yes

Basement

Slab: Yes

Gas

On Site: Yes

Cooling

Central Air: Yes
Window Unit(s): Yes

Water Heater

Electric: Yes
Natural Gas: Yes

Heating

Forced Air: Yes
Natural Gas: Yes

Water

Public Water: Yes

Sewer

Public Sewer: Yes

Parking

In Alley: Yes
On Site: Yes
Parking Lot: Yes
Unpaved: Yes

Assessment Status

Assessed: Yes

Financing

Cash: Yes

Construction/Siding

Stucco: Yes

Roof

Asphalt: Yes
Skylights: Yes

Landlord Pays

Exterior Maintenance: Yes
HVAC Maintenance: Yes
Insurance: Yes
Roof Maintenance: Yes
Sewer: Yes
Taxes: Yes
Water: Yes

Documents Available

Financial Statement: Yes
Lease: Yes

Property Features

Location: Business District; Comm Distr; Historic Dist; Near Busstop; Res Distr; Business District; Comm Distr; Historic Dist; Near Busstop; Res Distr Use: Apartments; Bakeries/Shop; Bar/Tavern/Lounge; Barber/Salon; Convenience Store; Day Care; Deli/Catering; Dry Cleaner; Florist Shop; Laundromat; Professional Service; Professional/Office; Restaurant; Retail; Other Interior: Fire Alarm; Handicapped; Refrigeration Floors: Concrete; Linoleum Basement: Slab Cooling: Central Air; Window Unit(s) Heating: Forced Air; Natural Gas Water Heater: Electric; Natural Gas Water: Public Water Sewer: Public Sewer Gas: On Site Electric: 60 - 100 AMP Parking: In Alley; On Site; Parking Lot; Unpaved Roof: Asphalt; Skylights Zoning: Central Business; Commercial; Live-in Professional; Mixed; Multi-Use; Residential; Retail; Multi-Family Lot Description: Corner Lot; Sidewalks Landlord Pays: Exterior Maintenance; HVAC Maintenance; Insurance; Roof Maintenance; Sewer; Taxes; Water Assessment Status: Assessed Documents Available: Financial Statement; Lease Financing: Cash

Listing Office: O'Brien Realty, LLC

Listing Agent: Stephen Candelino

Last Updated: February - 26 - 2026

The data relating to real estate on this web site comes in part from the Internet Data Exchange program of the MLS of the Monmouth Ocean Regional REALTORS®, and site contains live data. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.