Fully Renovated Office Building with 23
For Sale
$1,650,000
516 Duquesne Boulevard, Brick, NJ 08723
COMMERCIAL - Brick, NJ
Property Size4,090 SF
Lot Size0.52 Acres
Price / SF$403.42
Days on Market189
Property Features for 516 Duquesne Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
23
Parking features
Off Street
Security features
Security System
Exterior features
Lighting
Fencing
Fenced
Basement
Finished, Full, Crawl Space
Subdivision
Lake Riviera
Lot features
Level, Curbing, Sidewalks, Corner Lot
Directions
Google
Standard status
Active
APN
07-00446-04-00007
Size
4,090 SF
Lot size
0.52 Acres
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Well, Public
Building Details
Floors in Building
4
Flooring type
Vinyl
Building materials
Brick
Roof type
Shingle
Listing Agency:
One Real Estate Group, LLC
(732) 663-9898
Listed By:
Chaya Klein · License #1649028
(732) 663-9898
Added: Feb 24
Changed: Aug 18
Last Checked: Sep 1 at 6:06AM
MLS# 22604728
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.
Fully renovated, move-in ready office building on a 0.52-acre lot at 516 Duquesne Boulevard in Brick, NJ. The brick property totals 4,090 SF and is equipped with forced air heating and central air cooling. Interior features include private offices, conference rooms, a kitchen, and a finished lower level. The building has five separate entrances to support flexible access, and it includes lighting, vinyl flooring, and a shingle roof. For outdoor security and operations, the site is fenced and offers off-street parking with 23 dedicated parking spaces.
The building is positioned directly across from Target and is surrounded by national retailers, medical offices, and professional businesses. That combination of visibility and accessibility is designed to support a range of office uses, including medical, professional, counseling, educational, or multi-department office configurations.
Whether you’re an owner-user looking to move in quickly or an operator planning tenant-ready space, this layout provides multiple entry points alongside dedicated parking and interior workspaces built for day-to-day business operations.
The building is positioned directly across from Target and is surrounded by national retailers, medical offices, and professional businesses. That combination of visibility and accessibility is designed to support a range of office uses, including medical, professional, counseling, educational, or multi-department office configurations.
Whether you’re an owner-user looking to move in quickly or an operator planning tenant-ready space, this layout provides multiple entry points alongside dedicated parking and interior workspaces built for day-to-day business operations.
Key Highlights
- 0.52‑acre lot with 4,090 SF office building
- 23 dedicated off‑street parking spaces
- Five separate entrances for flexible access
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
$62,577
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
3.79%
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%
$1,251,540
$1.3M
Cap Rate 7%
$893,957
$894.0K
Cap Rate 9%
$695,300
$695.3K
Market Conditions
NOI Build-Up for 4,090 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
$122.7K $30.00/SF
− Vacancy
−$39.3K −$9.60/SF
EGI
$83.4K $20.40/SF
− OpEx
−$20.9K −$5.10/SF
NOI
$62.6K $15.30/SF
Area
Ocean 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%
$1,251,540
Cap Rate 7%
$893,957
Cap Rate 9%
$695,300
Alternative Uses
Best Use
Office B
$894.0K
$782.2K – $1.04M
NOI $62,577 @ 7.0% cap · market cap 3.79%
Second Best
Healthcare Medical
$870.0K
$761.2K – $1.01M
NOI $60,898 @ 7.0% cap · market cap 3.69%
Theoretical Best
Office A
$1.07M
$934.5K – $1.25M
NOI $74,759 @ 7.0% cap · market cap 4.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,170
Businesses Nearby
Explore this area
Business Placement
Demographics for 08723, NJ
31,272
Population
14,075
Households
2.2
Avg Household Size
45
Median Age
30%
College-Educated
95%
High-School Grad
12.0 sq mi
ZIP Area
2,606
Density / Sq Mi
$103,953
Median Household Income
$54,165
Median Earnings
$1,652
Median Rent
$374,400
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Corner office building with private offices, conference rooms, kitchen, and central air plus 23 dedicated off-street spaces.
Where is this office building located?
The property is located at 516 Duquesne Boulevard Brick, 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: 0.52‑acre lot with 4,090 SF office building; 23 dedicated off‑street parking spaces; Five separate entrances for flexible access
