Medical Office
For Sale
$290,000
495 Iron Bridge Road, Freehold, NJ 07728
Commercial Sale, Freehold, NJ
Property Size1,365 SF
Lot Size0.01 Acres
Price / SF$212.45
Days on Market45
Property Features for 495 Iron Bridge Road
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
Professional
Parking
102
Interior features
Handicapped
Accessibility
Accessible Approach with Ramp
Lot features
Level, Landscaped
Directions
Highway 9 to Route 537 West, left onto Iron Bridge Road, Building on right side. Parking on the side and rear of the building.
Subdivision
Freehold Twnsp
Standard status
Active
APN
28-00070-0000-00001-05
Size
1,365 SF
Lot size
0.01 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5111
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1995
Floors in Building
2
Listing Agency:
Compass New Jersey , LLC
(732) 252-2460
Listed By:
Colleen Meyler · License #8534703
(732) 995-5102
Added: Jul 29
Changed: Sep 6
Last Checked: Sep 11 at 3:06PM
MLS# 22623209
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 1,365-square-foot medical office condominium was built in 1995 and is arranged for professional practice use. The interior includes a reception and waiting area, client intake space, checkout window, three exam or office suites with sinks, a private office, staff and storage areas, a private restroom, and an 18' x 9' flex room. Forced-air heating and central air conditioning serve the space.
The property is located at 495 Iron Bridge Road in Freehold, approximately one-half mile from CentraState Medical Center. The professionally maintained complex provides 102 total parking spaces, including 6 ADA-accessible spaces. Public water and public sewer serve the property, and the entrance includes an accessible approach with ramp.
The property is located at 495 Iron Bridge Road in Freehold, approximately one-half mile from CentraState Medical Center. The professionally maintained complex provides 102 total parking spaces, including 6 ADA-accessible spaces. Public water and public sewer serve the property, and the entrance includes an accessible approach with ramp.
Key Highlights
- 1,365‑square‑foot medical office condominium
- Three exam or office suites, each with a sink
- 18' x 9' flex space for meetings, training, or staff use
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
$20,885
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
7.20%
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%
$417,700
$417.7K
Cap Rate 7%
$298,357
$298.4K
Cap Rate 9%
$232,056
$232.1K
Market Conditions
NOI Build-Up for 1,365 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
$41.0K $30.00/SF
− Vacancy
−$13.1K −$9.60/SF
EGI
$27.8K $20.40/SF
− OpEx
−$7.0K −$5.10/SF
NOI
$20.9K $15.30/SF
Area
Monmouth 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%
$417,700
Cap Rate 7%
$298,357
Cap Rate 9%
$232,056
Alternative Uses
Best Use
Office B
$298.4K
$261.1K – $348.1K
NOI $20,885 @ 7.0% cap · market cap 7.20%
Second Best
Healthcare Medical
$290.3K
$254.1K – $338.7K
NOI $20,324 @ 7.0% cap · market cap 7.01%
Theoretical Best
Office A
$356.4K
$311.9K – $415.8K
NOI $24,950 @ 7.0% cap · market cap 8.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
1,095
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 07728, NJ
56,444
Population
21,150
Households
2.7
Avg Household Size
43
Median Age
46%
College-Educated
92%
High-School Grad
49.6 sq mi
ZIP Area
1,138
Density / Sq Mi
$107,042
Median Household Income
$56,824
Median Earnings
$1,941
Median Rent
$490,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Professional medical office condominium with adaptable rooms, public utilities, and accessible entry near CentraState Medical Center.
Where is this medical office space located?
The property is located at 495 Iron Bridge Road Freehold, NJ.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: 1,365‑square‑foot medical office condominium; Three exam or office suites, each with a sink; 18' x 9' flex space for meetings, training, or staff use
