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    2337 Route 34 Manasquan, NJ 08736

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    Claim this Listing
    For Sale
    $2,000,000

    COMMERCIAL - Manasquan, NJ

    Property size:
    6,167 SF
    Lot size:
    1.29 Acres
    Price / SF:
    $324/SF
    Added:
    Oct 9, 2025
    Days on Market:
    205
    Last Refresh:
    May 1 at 3:06 am

    Property Features for 2337 Route 34

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    52-00831-0000-00030
    Size
    6,167 SF
    Lot size
    1.29 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    18838

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    Building Details

    Floors in Building
    2

    We can help!

    Listing Contact
    Paul G Cook

    Listing agent Paul G Cook

    Listing office Real Broker, LLC- Red Bank 331 Newman Springs Rd. FL . 2 One River Center Bldg. 3, Red Bank, NJ

    Listing date Oct 9, 2025

    MLS# 22518815

    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.

    Overview

    Prime Redevelopment Opportunity Near Beaches

    This property presents a redevelopment opportunity for 18 apartments or condos, benefiting from an amendment to the redevelopment plan. The location is near Manasquan Beach, Brielle, Sea Girt, and Point Pleasant Beach. Currently operating as a motel, the property has been rezoned from commercial to high-density residential to meet New Jersey's housing demand. Situated in the 08736 zip code, the area is characterized by a $150,523 median household income and a $91,786 per capita income, with 73% of residents holding Bachelor's degrees. The median listing price for 2-3 bedroom condos is $850,000, and the overall median listing home price is approximately $1.3 million, or about $464 per square foot. Rents for 2-3 bedroom apartments average $3500 to $4100 per month, reflecting the desirability of the coastal area. The property size is 6167 square feet on a 1.29-acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Motels

    Map

    City
    Manasquan
    County
    Monmouth
    State
    New Jersey
    Longitude
    -74.0759
    Latitude
    40.1257

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    FAQs

    What type of property is this?
    Apartment building - Operating motel with high-density residential zoning near coastal attractions.
    Where is this apartment building located?
    The property is located at 2337 Route 34 Manasquan, NJ.
    What is the asking price?
    The asking price for this property is $2,000,000.
    What are key features of this property?
    This property features: Development opportunity for 18 apartments or condos with redev plan amendment.; Prime location minutes from Manasquan Beach, Brielle, Sea Girt, and Point Pleasant Beach.; Rezoned from commercial to high‑density residential.
    (855) 653-6723
    We can help!
    Listing Contact
    Paul G Cook
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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