Multi-Structure Office
For Sale
$1,750,000
2000 Highway 34, Wall, NJ 07719
Commercial Sale, Wall, NJ
Property Size3,237 SF
Lot Size1.00 Acre
Price / SF$540.62
Days on Market124
Property Features for 2000 Highway 34
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Parking Lot
Directions
Property is located on the circle of Route 34
Standard status
Active
Lot size
1.00 Acre
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating)
Water source
Public
Amenities
glass garage doors
three-level deck
Building Details
Floors in Building
2
Listing Agency:
RE/MAX Central · RE/MAX International
(732) 972-1000
Listed By:
Michael Sclafani · License #306368
(908) 415-5622
Added: May 8
Changed: Aug 19
Last Checked: Sep 8 at 1:06AM
MLS# 22613371
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.
This office property comprises three separate structures totaling approximately 3,237 square feet on 1 acre. The Highway 34 building includes a 27' x 24' garage, office area, and full bathroom within approximately 948 square feet. A three-story office building along Allaire Road contains approximately 2,189 square feet with multiple office areas, workspace, conference areas, and two bathrooms. A detached, fully finished office adds approximately 100 square feet with heat and electric.
Property improvements include new windows and doors, a standing seam metal roof on the three-story building, a commercial rubber roof on the garage structure, rough HVAC and plumbing, structural and framing work, glass garage doors, a new staircase, and a three-level composite deck with aluminum railings. Public water and public sewer serve the property, with a parking lot and heat pump heating.
The site has frontage along Highway 34 and Allaire Road, with an estimated traffic count of approximately 30,000-50,000 vehicles per day. It is approximately 1 mile from the Garden State Parkway entrance, and the property is identified as being in Wall, Monmouth County, New Jersey.
Property improvements include new windows and doors, a standing seam metal roof on the three-story building, a commercial rubber roof on the garage structure, rough HVAC and plumbing, structural and framing work, glass garage doors, a new staircase, and a three-level composite deck with aluminum railings. Public water and public sewer serve the property, with a parking lot and heat pump heating.
The site has frontage along Highway 34 and Allaire Road, with an estimated traffic count of approximately 30,000-50,000 vehicles per day. It is approximately 1 mile from the Garden State Parkway entrance, and the property is identified as being in Wall, Monmouth County, New Jersey.
Key Highlights
- Three structures totaling approximately 3,237 sq. ft. on 1 acre
- Highway 34 and Allaire Road frontage
- Estimated traffic count of approximately 30,000‑50,000 vehicles per day
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
$49,526
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
2.83%
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%
$990,520
$990.5K
Cap Rate 7%
$707,514
$707.5K
Cap Rate 9%
$550,289
$550.3K
Market Conditions
NOI Build-Up for 3,237 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
$97.1K $30.00/SF
− Vacancy
−$31.1K −$9.60/SF
EGI
$66.0K $20.40/SF
− OpEx
−$16.5K −$5.10/SF
NOI
$49.5K $15.30/SF
Area
Monmouth 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%
$990,520
Cap Rate 7%
$707,514
Cap Rate 9%
$550,289
Alternative Uses
Best Use
Office B
$707.5K
$619.1K – $825.4K
NOI $49,526 @ 7.0% cap · market cap 2.83%
Second Best
Retail
$660.0K
$577.5K – $770.1K
NOI $46,203 @ 7.0% cap · market cap 2.64%
Theoretical Best
Office A
$845.2K
$739.6K – $986.1K
NOI $59,167 @ 7.0% cap · market cap 3.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
50,000 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
307
Businesses Nearby
Explore this area
Business Placement
Demographics for 07719, NJ
21,665
Population
10,753
Households
2
Avg Household Size
46
Median Age
53%
College-Educated
96%
High-School Grad
12.7 sq mi
ZIP Area
1,706
Density / Sq Mi
$119,877
Median Household Income
$58,854
Median Earnings
$1,754
Median Rent
$628,700
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Three improved structures offer office, garage, and workspace configurations with access from two road frontages.
Where is this office building located?
The property is located at 2000 Highway 34 Wall, NJ.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Three structures totaling approximately 3,237 sq. ft. on 1 acre; Highway 34 and Allaire Road frontage; Estimated traffic count of approximately 30,000‑50,000 vehicles per day
