Live-Work Property with Detached
For Sale
Under Contract
$1,250,000
176 Old Forge Road, Monroe, NJ 08831
Commercial Sale, Monroe, NJ
Property Size3,024 SF
Lot Size1.84 Acres
Price / SF$413.36
Days on Market232
Property Features for 176 Old Forge Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R60
Parking
10
Parking features
Garage
Lot features
Level
Standard status
Active Under Contract
APN
12001065200022
Size
3,024 SF
Lot size
1.84 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
12973
Utilities
Sewer type
Septic Tank
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1977
Floors in Building
1
Flooring type
Tile - Ceramic, Carpet
Building materials
Brick
Roof type
Asphalt
Listing Agency:
MID-STATE REALTY
(732) 251-8900
Listed By:
John Profaci · License #9231545
(908) 692-5419
Added: Jan 19
Changed: Aug 19
Last Checked: Sep 8 at 5:06PM
MLS# 2661144M
Copyright © 2026 All Jersey 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.
This live-work property combines a 3,024-square-foot improved single-family home with a detached 42' x 72' garage on 1.8365 acres. The residence offers potential for office or combined residential and business use, while the garage provides space for equipment storage, vehicles, workshop activities, and contractor operations. Brick construction, ceramic tile and carpet flooring, forced-air heat, central air, and an asphalt roof are among the existing improvements.
Zoned R60, the property is served by public water and a septic tank. Built in 1977, it includes garage parking and a layout suited to businesses requiring both indoor workspace and outdoor yard area.
Zoned R60, the property is served by public water and a septic tank. Built in 1977, it includes garage parking and a layout suited to businesses requiring both indoor workspace and outdoor yard area.
Key Highlights
- 1.8365‑acre property with live‑work potential
- 3,024‑square‑foot improved single‑family home
- Detached 42' x 72' garage
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
$46,267
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
3.70%
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%
$925,340
$925.3K
Cap Rate 7%
$660,957
$661.0K
Cap Rate 9%
$514,078
$514.1K
Market Conditions
NOI Build-Up for 3,024 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
$90.7K $30.00/SF
− Vacancy
−$29.0K −$9.60/SF
EGI
$61.7K $20.40/SF
− OpEx
−$15.4K −$5.10/SF
NOI
$46.3K $15.30/SF
Area
Middlesex County, NJ
Vacancy
32.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
25.00%
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%
$925,340
Cap Rate 7%
$660,957
Cap Rate 9%
$514,078
Alternative Uses
Best Use
Office B
$661.0K
$578.3K – $771.1K
NOI $46,267 @ 7.0% cap · market cap 3.70%
Second Best
Flex RnD
$627.9K
$549.4K – $732.5K
NOI $43,952 @ 7.0% cap · market cap 3.52%
Theoretical Best
Office A
$789.6K
$690.9K – $921.2K
NOI $55,274 @ 7.0% cap · market cap 4.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
44
Businesses Nearby
Explore this area
Business Placement
Demographics for 08831, NJ
55,123
Population
24,898
Households
2.2
Avg Household Size
53
Median Age
51%
College-Educated
95%
High-School Grad
51.3 sq mi
ZIP Area
1,075
Density / Sq Mi
$108,741
Median Household Income
$74,340
Median Earnings
$1,872
Median Rent
$489,700
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?
Live-work space - Brick residence and separate garage support equipment storage, workshop use, and on-site business operations.
Where is this live-work space located?
The property is located at 176 Old Forge Road Monroe, NJ.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 1.8365‑acre property with live‑work potential; 3,024‑square‑foot improved single‑family home; Detached 42' x 72' garage
