Three-Level Office
For Sale
$895,000
Pending
22 West Street, Red Bank, NJ 07701
COMMERCIAL - Red Bank, NJ
Property Size2,976 SF
Days on Market214
Property Features for 22 West Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Office, Retail, Professional, Neighborhood, Multi-Use, Commercial
Rooms
Basement
Parking
8
Parking features
Guest
Security features
Security System
Exterior features
Lighting
Basement
Full
Lot features
Level, Cleared, Curbing, Fin Road, Sidewalks
Directions
West Front Street to West Street.
Standard status
Pending
APN
39-00036-0000-00019
Size
2,976 SF
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
16745
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
conference room
kitchen
bathrooms
full basement
Building Details
Year built
1920
Floors in Building
3
Flooring type
Tile, Wood
Building materials
Brick
Roof type
Shingle
Listing Agency:
Heritage House Sotheby's International Realty
(732) 946-9200
Listed By:
Vincent Gogliormella
(732) 946-9200
Added: Jan 27
Changed: Aug 5
Last Checked: Aug 29 at 6:06PM
MLS# 22602415
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 three-level office building offers a flexible, professional layout with office space configured across all floors. The first and second floors feature eight spacious offices total (four per floor), with versatile partitions designed to maximize individual workspaces while maintaining overall flow. The third floor includes two additional private offices suited for quieter work. A large conference room on the second floor supports meetings and collaboration, and a kitchen on the second level provides employee breakroom space. Bathrooms are located on both the first and second floors, and the property includes a full basement for additional storage.
Located at 22 West Street in Red Bank, New Jersey, the building includes a private lot with parking for eight vehicles, complemented by convenient street parking for guests.
Located at 22 West Street in Red Bank, New Jersey, the building includes a private lot with parking for eight vehicles, complemented by convenient street parking for guests.
Key Highlights
- Prestigious Red Bank address, enhancing business image and client perception.
- Flexible layout with three levels of prime office space.
- Eight spacious offices across the first and second floors, adaptable for various workspace configurations.
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
$45,533
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
5.09%
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%
$910,660
$910.7K
Cap Rate 7%
$650,471
$650.5K
Cap Rate 9%
$505,922
$505.9K
Market Conditions
NOI Build-Up for 2,976 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
$89.3K $30.00/SF
− Vacancy
−$28.6K −$9.60/SF
EGI
$60.7K $20.40/SF
− OpEx
−$15.2K −$5.10/SF
NOI
$45.5K $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%
$910,660
Cap Rate 7%
$650,471
Cap Rate 9%
$505,922
Alternative Uses
Best Use
Office B
$650.5K
$569.2K – $758.9K
NOI $45,533 @ 7.0% cap · market cap 5.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$777.1K
$680.0K – $906.6K
NOI $54,397 @ 7.0% cap · market cap 6.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,134
Businesses Nearby
Explore this area
Business Placement
Demographics for 07701, NJ
24,568
Population
11,082
Households
2.2
Avg Household Size
43
Median Age
53%
College-Educated
93%
High-School Grad
9.2 sq mi
ZIP Area
2,670
Density / Sq Mi
$113,630
Median Household Income
$62,309
Median Earnings
$1,971
Median Rent
$551,500
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-level office building with a private lot for eight vehicles, plus a conference room and kitchen on the second floor.
Where is this office building located?
The property is located at 22 West Street Red Bank, NJ.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Prestigious Red Bank address, enhancing business image and client perception.; Flexible layout with three levels of prime office space.; Eight spacious offices across the first and second floors, adaptable for various workspace configurations.
