Updated Matawan Commercial Investment
228 State Route 34 Matawan, NJ 07747
228 State Route 34, Matawan, NJ, 07747
$2,200,000
For Sale
$2,200,000
COMMERCIAL - Matawan, NJ
Property Size10,000 SF
Lot Size0.72 Acres
Price / SF$220
Days on Market306
Property Features for 228 State Route 34
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Rooms
- Basement
- Parking
- 50
- Parking features
- Open, Parking Lot
- Security features
- Security System
- Exterior features
- Lighting
- Basement
- Walk-Out Access, Full
- Standard status
- Active
- APN
- 15-10260-0000-00067
- Size
- 10,000 SF
- Lot size
- 0.72 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 31419
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1990
- Floors in Building
- 2
- Flooring type
- Vinyl, Concrete, Tile
- Building materials
- Brick
Listing agency
VRI Homes
(732) 264-9593
Listed by
B.K. Kromer · License #8635998
(732) 264-9593
Added: Sep 20, 2025 Updated: May 14 at 3:23AM Checked: Jul 22 at 4:06AM
MLS# 22528705
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 commercial building in Matawan, New Jersey, presents a turnkey investment opportunity. The property features modern design with functional, income-producing space. Spanning approximately 10,000 square feet, the building houses a mix of six established tenants, all secured on active leases. Significant investments have been made in high-quality updates throughout, including new bathrooms, ceilings, lights, flooring, and custom Italian glass and wood doors. The HVAC and air systems are new, with all ducts redone, and custom painting throughout the building. A new roof and camera system with parking lot timer lights have been installed. The property also includes a full basement. Situated on a 0.72-acre lot, this low-maintenance, cash-flowing asset is suitable for investors seeking a stable addition with clear potential.
Key Highlights
- Fully leased building with 6 established tenants providing immediate income.
- Extensive high‑quality updates throughout, including new bathrooms, ceilings, lighting, flooring, custom Italian glass and wood doors, HVAC, and roof.
- Low‑maintenance, cash‑flowing asset ideal for investors.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $300.0k | $30.00 |
| − Vacancy | −$96.0k | −$9.60 |
| EGI | $204.0k | $20.40 |
| − OpEx | −$51.0k | −$5.10 |
| NOI | $153.0k | $15.30 |
10,000 SF · lease $30.00/SF/yr · vacancy 32.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.19M
$1.91M – $2.55M
NOI $153,000 @ 7.0% cap · market cap 6.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.61M
$2.28M – $3.05M
NOI $182,784 @ 7.0% cap · market cap 8.31%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Office buildings
Similar For Sale Nearby
FAQs
What type of property is this?
Office building - Fully leased, updated building with diverse tenants and income potential.
Where is this office building located?
The property is located at 228 State Route 34 Matawan, NJ.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Fully leased building with 6 established tenants providing immediate income.; Extensive high‑quality updates throughout, including new bathrooms, ceilings, lighting, flooring, custom Italian glass and wood doors, HVAC, and roof.; Low‑maintenance, cash‑flowing asset ideal for investors.
