Asbury Park Commercial
428 Main Street Asbury Park, NJ 07712
For Sale
$1,650,000
Pending
COMMERCIAL - Asbury Park, NJ
Property Size7,062 SF
Lot Size0.08 Acres
Days on Market770
Property Features for 428 Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Rooms
Basement
Parking features
On Street
Basement
Partial
Standard status
Pending
APN
04-02506-0000-00010
Size
7,062 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2023
Tax Annual Amount
17461
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1920
Floors in Building
2
Listing Agency:
Sackman Realty
(732) 798-8188
Listed By:
Patrick Schiavino · License #8632233
(732) 798-8188
Added: Jun 19, 2024
Changed: Apr 14
Last Checked: Jul 28 at 8:06AM
MLS# 22417324
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.
Located in the Central Business District of Asbury Park, this commercial property presents a significant opportunity. The building, situated on a high-traffic corner with excellent visibility, has housed a successful hardware store for over 40 years. The property has a total size of 7,062 square feet and a lot size of 0.08 acres. The second floor, comprising approximately 3,534 square feet, is currently vacant and ready for development. Potential uses for the second floor include residential, office, service, or medical purposes, or it can be combined with the first floor for expansion, offering many options. The property is located at 428 Main Street, Asbury Park, NJ 07712.
Key Highlights
- Prime location in the Central Business District of Asbury Park with high traffic and great visibility.
- Opportunity to acquire both a building and a long‑established, successful hardware store business (40+ years).
- Vacant 3,534SF second floor ready for development into residential, office, service, or medical space.
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $211.9k | $30.00 |
| − Vacancy | −$67.8k | −$9.60 |
| EGI | $144.1k | $20.40 |
| − OpEx | −$36.0k | −$5.10 |
| NOI | $108.0k | $15.30 |
7,062 SF · lease $30.00/SF/yr · vacancy 32.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.54M
$1.35M – $1.80M
NOI $108,049 @ 7.0% cap · market cap 6.55%
Second Best
Retail
$1.44M
$1.26M – $1.68M
NOI $100,798 @ 7.0% cap · market cap 6.11%
Theoretical Best
Office A
$1.84M
$1.61M – $2.15M
NOI $129,082 @ 7.0% cap · market cap 7.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Similar Off Market Nearby
- flowerchildflorals — 21 Main Street Asbury Park, Ocean Township, NJ
Frequently Asked Questions
What type of property is this?
Storefront property - Commercial building in Asbury Park's Central Business District.
Where is this storefront property located?
The property is located at 428 Main Street Asbury Park, NJ.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Prime location in the Central Business District of Asbury Park with high traffic and great visibility.; Opportunity to acquire both a building and a long‑established, successful hardware store business (40+ years).; **Vacant 3,534SF second floor ready for development into residential, office, service, or medical space.**
