Residential Income Apartment
For Sale
$3,699,000
Pending
380 Division Street, Long Branch, NJ 07740
COMMERCIAL - Long Branch, NJ
Property Size9,436 SF
Lot Size0.34 Acres
Days on Market55
Property Features for 380 Division Street
General Information
Property type
Commercial Sale
Property subtype
Other
Property condition
Under Construction
Rooms
Basement
Parking
8
Parking features
Parking Lot
Lot features
Corner Lot
Directions
GSP exit 105 to Rt 36 East, Right on Broadway, right on Morris, Right on Division. Building located on Left hand side between Prospect Alley and Willow
Standard status
Pending
APN
27-00190-0000-00007
Size
9,436 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
23508
Utilities
Sewer type
Public Sewer
Cooling system
Electric
Water source
Public
Building Details
Year built
1966
Floors in Building
2
Building materials
Brick, Concrete
Roof type
Shingle
Listing Agency:
EXP Realty
(866) 201-6210
Listed By:
Charlotte Toomey
(866) 201-6210
Added: Jun 18
Changed: Aug 4
Last Checked: Aug 11 at 10:06AM
MLS# 22618477
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 for-sale residential income apartment building is offered at 380 Division Street. The property sits on a 0.34-acre lot and includes 9,436 square feet of building area, providing a multifamily structure designed for ongoing residential use.
The asset is located in Long Branch, New Jersey (07740), within Monmouth County. As a smaller-lot multifamily building, it may appeal to buyers looking for a manageable residential income property in an established coastal market.
Because the listing information is focused on the building and lot size, prospective buyers should review the unit mix, current operating details, and any existing improvements during due diligence. For tenants, the property’s primary relevance is that it is an apartment-based residential income asset, with occupancy and lease terms governed by the building’s actual configuration and management in place. Brokers and investors can use the square footage and land area to underwrite feasibility and evaluate how the building fits their acquisition criteria.
The asset is located in Long Branch, New Jersey (07740), within Monmouth County. As a smaller-lot multifamily building, it may appeal to buyers looking for a manageable residential income property in an established coastal market.
Because the listing information is focused on the building and lot size, prospective buyers should review the unit mix, current operating details, and any existing improvements during due diligence. For tenants, the property’s primary relevance is that it is an apartment-based residential income asset, with occupancy and lease terms governed by the building’s actual configuration and management in place. Brokers and investors can use the square footage and land area to underwrite feasibility and evaluate how the building fits their acquisition criteria.
Key Highlights
- Construction materials include brick and concrete
- Under construction; year built listed as 1966
- Utilities: public water and public sewer
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
$145,107
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
3.92%
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%
$2,902,140
$2.9M
Cap Rate 7%
$2,072,957
$2.1M
Cap Rate 9%
$1,612,300
$1.6M
Market Conditions
NOI Build-Up for 9,436 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
$283.1K $30.00/SF
− Vacancy
−$19.2K −$2.04/SF
EGI
$263.8K $27.96/SF
− OpEx
−$118.7K −$12.58/SF
NOI
$145.1K $15.38/SF
Area
Monmouth County, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
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%
$2,902,140
Cap Rate 7%
$2,072,957
Cap Rate 9%
$1,612,300
Alternative Uses
Best Use
Apartment 5plus
$2.07M
$1.81M – $2.42M
NOI $145,107 @ 7.0% cap · market cap 3.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.46M
$2.16M – $2.87M
NOI $172,475 @ 7.0% cap · market cap 4.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,605
Businesses Nearby
Explore this area
Business Placement
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 Multifamily 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?
Apartment building - For sale residential income apartment building at 380 Division Street in Long Branch, offering a straightforward multifamily ownership opportunity.
Where is this apartment building located?
The property is located at 380 Division Street Long Branch, NJ.
What is the asking price?
The asking price for this property is $3,699,000.
What are key features of this property?
This property features: Construction materials include brick and concrete; Under construction; year built listed as 1966; Utilities: public water and public sewer
