12
Map
561 Central Avenue
About This Property
The property is being marketed for land and development value only. An existing residence is situated near the center of the parcel. No interior showings will be provided.
Ideally located just around the corner from scenic Wreck Pond and approximately one mile from the Spring Lake beach and boardwalk. Spring Lake Heights is perfectly positioned between the sought-after coastal communities of Spring Lake and Sea Girt, offering convenient access to beaches, charming downtown areas, restaurants, shopping, parks and transportation.
An exceptional opportunity for a builder or developer to create two new coastal residences on oversized lots in one of the Jersey Shore's most desirable locations. Buyer is responsible for completing all due diligence and obtaining required municipal subdivision and development approvals. Currently not in a flood zone!
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Aug 21, 2026 | In contract | - | |
| In contract | |||
| Jul 24, 2026 | Listed by Coldwell Banker Realty | $2,500,000 | |
| Listed by Coldwell Banker Realty | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017