Flex Space with Drive-In
For Sale
$2,999,000
3502 W Bangs Avenue, Neptune, NJ 07753
Commercial Sale, Neptune Township, NJ
Property Size9,593 SF
Lot Size1.03 Acres
Price / SF$312.62
Days on Market90
Property Features for 3502 W Bangs Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Parking features
Parking Lot
Lot features
Corner Lot
Directions
Corner of Route 33 and West Bangs Ave
Standard status
Active
APN
35-03001-0000-00001
Size
9,593 SF
Lot size
1.03 Acres
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
overhead drive-in doors
loft area
Building Details
Floors in Building
2
Listing Agency:
Douglas Elliman of NJ LLC
(732) 387-3807
Listed By:
Chris Katz · License #0681073
(732) 859-8505
Added: Jun 8
Changed: Aug 30
Last Checked: Sep 5 at 11:06PM
MLS# 22617104
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 vacant flex property offers an open commercial interior with five overhead drive-in doors and a loft area for storage. The improvements are described as being in excellent condition and support a flexible combination of warehouse, retail, and flex uses. A previous residential structure is also located on the property and may be evaluated for residential or office reuse, subject to township confirmation of permitted uses.
The property occupies a visible corner along Route 33 near the Garden State Parkway, Route 18, and Route 35. A parking lot provides on-site parking, while public water and public sewer serve the property. The site may suit an owner-user, investor, or redevelopment plan, with all proposed uses subject to buyer due diligence.
The property occupies a visible corner along Route 33 near the Garden State Parkway, Route 18, and Route 35. A parking lot provides on-site parking, while public water and public sewer serve the property. The site may suit an owner-user, investor, or redevelopment plan, with all proposed uses subject to buyer due diligence.
Key Highlights
- Five overhead drive‑in doors
- Vacant flex property with open commercial space and loft storage
- Visible corner location along Route 33
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
$157,355
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
5.25%
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%
$3,147,100
$3.1M
Cap Rate 7%
$2,247,929
$2.2M
Cap Rate 9%
$1,748,389
$1.7M
Market Conditions
NOI Build-Up for 9,593 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
$312.0K $32.52/SF
− Vacancy
−$69.9K −$7.28/SF
EGI
$242.1K $25.24/SF
− OpEx
−$84.7K −$8.83/SF
NOI
$157.4K $16.40/SF
Area
Monmouth County, NJ
Vacancy
22.40%
Lease Rate
$32.52 /SF/Yr
Expense Ratio
35.00%
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%
$3,147,100
Cap Rate 7%
$2,247,929
Cap Rate 9%
$1,748,389
Alternative Uses
Best Use
Flex RnD
$2.25M
$1.97M – $2.62M
NOI $157,355 @ 7.0% cap · market cap 5.25%
Second Best
Retail
$1.96M
$1.71M – $2.28M
NOI $136,924 @ 7.0% cap · market cap 4.57%
Theoretical Best
Office A
$2.50M
$2.19M – $2.92M
NOI $175,345 @ 7.0% cap · market cap 5.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Drive-in doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
127
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 07753, NJ
37,397
Population
16,701
Households
2.2
Avg Household Size
45
Median Age
37%
College-Educated
93%
High-School Grad
16.0 sq mi
ZIP Area
2,337
Density / Sq Mi
$92,824
Median Household Income
$49,953
Median Earnings
$1,740
Median Rent
$390,900
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Vacant commercial property with open interior space, a loft, and access to public water and sewer.
Where is this flex space located?
The property is located at 3502 W Bangs Avenue Neptune, NJ.
What is the asking price?
The asking price for this property is $2,999,000.
What are key features of this property?
This property features: Five overhead drive‑in doors; Vacant flex property with open commercial space and loft storage; Visible corner location along Route 33
