Renovated Flex Property with
For Sale
$1,900,000
Pending
1029 Us 9, Howell, NJ 07731
Commercial Sale, Howell, NJ
Property Size5,990 SF
Lot Size0.80 Acres
Days on Market263
Property Features for 1029 Us 9
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Parking features
Guest, Paved or Surfaced, Parking Lot
Security features
Security System
Exterior features
Lighting
Directions
Rt 9 North to 1029 Hwy 9
Standard status
Pending
APN
21-00144-0000-00124
Size
5,990 SF
Lot size
0.80 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
22590
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Electric, Central Air
Water source
Public
Amenities
Kitchenette
Full Bath
Conference Room
Building Details
Floors in Building
2
Listing Agency:
RE/MAX Central · RE/MAX International
Listed By:
Nancy Coviello
(732) 972-1000
Added: Dec 18, 2025
Changed: Sep 2
Last Checked: Sep 7 at 6:06PM
MLS# 22537009
Copyright © 2026 More MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Renovated flex space totaling 5,990 square feet combines a showroom, warehouse, reception area, customer sales desks, and multiple offices. The first floor includes three private offices and warehouse loading access, while the second floor provides an open work area, a private office, and a conference room. A kitchenette and full bath serve the upper level.
The property sits on 0.8 acres along US 9 in Howell, New Jersey. Parking includes a paved area for clients, guest parking, and an unpaved lot. Building systems include forced-air heating and central air conditioning, with public water and public sewer service. Leased solar panels are also in place.
The property sits on 0.8 acres along US 9 in Howell, New Jersey. Parking includes a paved area for clients, guest parking, and an unpaved lot. Building systems include forced-air heating and central air conditioning, with public water and public sewer service. Leased solar panels are also in place.
Key Highlights
- 5,990‑square‑foot renovated flex building with showroom, warehouse, reception, and office areas
- 0.8‑acre property along US 9 in Howell, NJ
- Warehouse loading access for material handling
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$98,254
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.17%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,965,080
$2.0M
Cap Rate 7%
$1,403,629
$1.4M
Cap Rate 9%
$1,091,711
$1.1M
Market Conditions
NOI Build-Up for 5,990 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$194.8K $32.52/SF
− Vacancy
−$43.6K −$7.28/SF
EGI
$151.2K $25.24/SF
− OpEx
−$52.9K −$8.83/SF
NOI
$98.3K $16.40/SF
Area
Monmouth County, NJ
Vacancy
22.40%
Lease Rate
$32.52 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,965,080
Cap Rate 7%
$1,403,629
Cap Rate 9%
$1,091,711
Alternative Uses
Best Use
Flex RnD
$1.40M
$1.23M – $1.64M
NOI $98,254 @ 7.0% cap · market cap 5.17%
Second Best
Office B
$1.31M
$1.15M – $1.53M
NOI $91,647 @ 7.0% cap · market cap 4.82%
Theoretical Best
Office A
$1.56M
$1.37M – $1.82M
NOI $109,488 @ 7.0% cap · market cap 5.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
225
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 07731, NJ
39,677
Population
14,102
Households
2.8
Avg Household Size
40
Median Age
42%
College-Educated
94%
High-School Grad
31.8 sq mi
ZIP Area
1,248
Density / Sq Mi
$130,064
Median Household Income
$57,228
Median Earnings
$2,619
Median Rent
$454,900
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Mixed office and warehouse configuration includes customer-facing areas, loading access, and dedicated workspaces.
Where is this flex space located?
The property is located at 1029 Us 9 Howell, NJ.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: 5,990‑square‑foot renovated flex building with showroom, warehouse, reception, and office areas; 0.8‑acre property along US 9 in Howell, NJ; Warehouse loading access for material handling
