Renovated Office/Retail
For Sale
$575,000
2597 Hooper Avenue, Brick, NJ 08723
COMMERCIAL - Brick, NJ
Property Size1,200 SF
Price / SF$479.17
Days on Market289
Property Features for 2597 Hooper Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Parking features
Parking Lot, On Street
Directions
Google
Standard status
Active
APN
07-00565-0000-00001
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Floors in Building
1
Listing Agency:
One Real Estate Group, LLC
(732) 663-9898
Listed By:
Chaya Klein · License #1649028
(732) 663-9898
Added: Nov 6, 2025
Changed: Aug 7
Last Checked: Aug 22 at 7:06AM
MLS# 22533697
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.
2597 Hooper Avenue in Brick, NJ presents a beautifully renovated office/retail building designed for immediate occupancy. The main level offers over 1,200 sq ft, with an additional 500 sq ft of finished storage space on the second floor. The layout supports a range of business uses including professional offices, retail, or service operations.
The property also offers residential-use flexibility, which can be useful for owner-occupants or investors seeking greater adaptability. Parking is available on site via a parking lot, with additional on-street parking options. Public water and public sewer services are in place.
Overall, this is a versatile, renovated commercial building with a practical mix of front-area operating space and dedicated finished storage above.
The property also offers residential-use flexibility, which can be useful for owner-occupants or investors seeking greater adaptability. Parking is available on site via a parking lot, with additional on-street parking options. Public water and public sewer services are in place.
Overall, this is a versatile, renovated commercial building with a practical mix of front-area operating space and dedicated finished storage above.
Key Highlights
- Beautifully renovated office/retail building
- Over 1,200 sq ft on the main level
- Additional 500 sq ft finished storage on the second floor
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
$18,360
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
3.19%
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%
$367,200
$367.2K
Cap Rate 7%
$262,286
$262.3K
Cap Rate 9%
$204,000
$204.0K
Market Conditions
NOI Build-Up for 1,200 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
$36.0K $30.00/SF
− Vacancy
−$11.5K −$9.60/SF
EGI
$24.5K $20.40/SF
− OpEx
−$6.1K −$5.10/SF
NOI
$18.4K $15.30/SF
Area
Ocean 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%
$367,200
Cap Rate 7%
$262,286
Cap Rate 9%
$204,000
Alternative Uses
Best Use
Office B
$262.3K
$229.5K – $306.0K
NOI $18,360 @ 7.0% cap · market cap 3.19%
Second Best
Retail
$244.7K
$214.1K – $285.5K
NOI $17,128 @ 7.0% cap · market cap 2.98%
Theoretical Best
Office A
$313.3K
$274.2K – $365.6K
NOI $21,934 @ 7.0% cap · market cap 3.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
826
Businesses Nearby
Explore this area
Business Placement
Demographics for 08723, NJ
31,272
Population
14,075
Households
2.2
Avg Household Size
45
Median Age
30%
College-Educated
95%
High-School Grad
12.0 sq mi
ZIP Area
2,606
Density / Sq Mi
$103,953
Median Household Income
$54,165
Median Earnings
$1,652
Median Rent
$374,400
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?
Office building - Move-in-ready office/retail building with finished second-floor storage and public utilities, plus parking lot and on-street options.
Where is this office building located?
The property is located at 2597 Hooper Avenue Brick, NJ.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Beautifully renovated office/retail building; Over 1,200 sq ft on the main level; Additional 500 sq ft finished storage on the second floor
