Former Firehouse Mixed-Use
For Sale
$1,250,000
353 Broadway, Long Branch, NJ 07740
Commercial Sale, Long Branch, NJ
Property Size3,520 SF
Lot Size0.07 Acres
Price / SF$355.11
Days on Market46
Property Features for 353 Broadway
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
On Street
Directions
Broadway
Standard status
Active
APN
27-00267-0000-00049
Size
3,520 SF
Lot size
0.07 Acres
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
open interior space
high ceilings
distinctive architectural presence
Building Details
Year built
1910
Floors in Building
2
Listing Agency:
Douglas Elliman of NJ LLC
(732) 387-3807
Listed By:
Chris Katz · License #0681073
(732) 859-8505
Added: Jul 23
Changed: Sep 4
Last Checked: Sep 6 at 2:06AM
MLS# 22622677
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.
Built in 1910, this former firehouse contains approximately 3,520 square feet on a 0.07-acre parcel. The interior offers open space, high ceilings, and a distinctive former municipal-building character that can support retail, restaurant, office, medical, fitness, creative workspace, brewery, or other mixed-use concepts, subject to approvals. On-street parking is available, with public water and public sewer serving the property.
The building occupies 353 Broadway in Long Branch, within the Broadway corridor. The property is located minutes from Pier Village, the beach, NJ Transit, Monmouth University, and major highways, providing access to established destinations and transportation connections. Its former firehouse configuration and open interior create a flexible basis for an owner-user, investor, or developer pursuing an approved commercial or mixed-use plan.
The building occupies 353 Broadway in Long Branch, within the Broadway corridor. The property is located minutes from Pier Village, the beach, NJ Transit, Monmouth University, and major highways, providing access to established destinations and transportation connections. Its former firehouse configuration and open interior create a flexible basis for an owner-user, investor, or developer pursuing an approved commercial or mixed-use plan.
Key Highlights
- Former firehouse building constructed in 1910
- Approximately 3,520 square feet on 0.07 acres
- Open interior layout with high ceilings
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
$50,242
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
4.02%
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%
$1,004,840
$1.0M
Cap Rate 7%
$717,743
$717.7K
Cap Rate 9%
$558,244
$558.2K
Market Conditions
NOI Build-Up for 3,520 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
$76.0K $21.60/SF
− Vacancy
−$4.3K −$1.21/SF
EGI
$71.8K $20.39/SF
− OpEx
−$21.5K −$6.12/SF
NOI
$50.2K $14.27/SF
Area
Monmouth County, NJ
Vacancy
5.60%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
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%
$1,004,840
Cap Rate 7%
$717,743
Cap Rate 9%
$558,244
Alternative Uses
Best Use
Retail
$717.7K
$628.0K – $837.4K
NOI $50,242 @ 7.0% cap · market cap 4.02%
Second Best
Mixed Use
$678.9K
$594.0K – $792.0K
NOI $47,520 @ 7.0% cap · market cap 3.80%
Theoretical Best
Office A
$919.1K
$804.3K – $1.07M
NOI $64,340 @ 7.0% cap · market cap 5.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,271
Businesses Nearby
37k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 83%
Shops & Services 17%
McDonald's
Dining
20,425 visits/mo
0.2 miles
Dunkin' Donuts
Dining
8,716 visits/mo
0.4 miles
Conoco
Shops & Services
6,308 visits/mo
0.2 miles
Rook Coffee
Dining
1,088 visits/mo
0.3 miles
Demographics for 07740, NJ
31,905
Population
15,208
Households
2.1
Avg Household Size
38
Median Age
35%
College-Educated
84%
High-School Grad
5.3 sq mi
ZIP Area
6,020
Density / Sq Mi
$73,806
Median Household Income
$38,614
Median Earnings
$1,744
Median Rent
$521,900
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Open interior space and high ceilings accommodate a range of commercial concepts, subject to approvals.
Where is this mixed-use property located?
The property is located at 353 Broadway Long Branch, NJ.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Former firehouse building constructed in 1910; Approximately 3,520 square feet on 0.07 acres; Open interior layout with high ceilings
