Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    640 Green Grove Rd Neptune, NJ 07753

    Sponsored
    For Sale
    $899,000

    COMMERCIAL - Neptune Township, NJ

    Property size:
    2,310 SF
    Lot size:
    0.81 Acres
    Days on Market:
    21
    Last Refresh:
    Feb 27 at 1:06 pm

    Property Features for 640 Green Grove Rd

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Basement
    APN
    35-02601-0000-00001
    Parking features
    Parking Lot, On Street
    Exterior features
    Lighting
    Fencing
    Fenced
    Size
    2,310 SF
    Lot size
    0.81 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Oil, Baseboard
    Cooling system
    Window Unit(s)
    Water source
    Public

    Building Details

    Year built
    1930
    Floors in Building
    1
    Roof type
    Shingle

    We can help!

    Listing Contact
    George Notte

    Dream Realty Group LLC (732) 530-4687

    Listing agent George Notte (732) 530-4687

    Listing date Feb 7, 2026

    MLS# 22603378

    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.

    Learn more

    Property Insight Report

    Overview

    Corner Property with Schoolhouse

    This highly desirable corner property offers significant visibility. The oversized, double lot features a schoolhouse, making it suitable for its current use as a school. Alternatively, it presents a potential subdivision opportunity with a school and a home or a home/home office, given its location in a residential area. Subdivision for multiple homes is also a possibility. The existing schoolhouse includes 3 rooms, an office, and 3 bathrooms. The property boasts a large, flat, fenced area with ample space for various plans, including a built-in pool. Its location provides convenient access to the Parkway, Route 18, golf courses, shopping centers, restaurants, and beaches. The property size is 2310 square feet, and the lot size is 0.81 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Little Class Pre ... High School

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Neptune
    County
    Monmouth
    State
    New Jersey
    Longitude
    -74.068497
    Latitude
    40.217313

    Nearby Similar for Sale

    • $925,000
      1,470 SF

      Established Animal Hospital For Sale

      Fully operational animal hospital with strong local presence in Neptune.
      317 Route 35, Neptune, NJ 07753
      View Details
    • $5,500,000
      17,287 SF

      Prime Commercial Property in Neptune

      17,000+ sq ft property with leased space and offices.
      3443 State Route 66, Neptune, NJ 07753
      View Details
    • $799,000
      4,300 SF

      Corner Storefront in High-Traffic Area

      4,300 SF corner storefront property in Neptune Township, NJ.
      500 State Route 35, Neptune, NJ 07753
      View Details
    • $899,000
      3,857 SF

      Mixed-Use Property on Route 35

      Retail, garages, apartment, and house on a corner lot.
      1323 7Th Ave, Neptune, NJ 07753
      View Details
    • $775,000
      Pending

      Mixed-Use Property in Neptune Township

      Income-generating property with retail and residential units in Neptune Township.
      1528 Monroe Ave, Neptune, NJ 07753
      View Details
    • $725,000
      2,782 SF

      Mixed-Use Redevelopment Opportunity Near Route 35

      Value-add mixed-use redevelopment opportunity in high-visibility location.
      1324 Corlies Ave, Neptune, NJ 07753
      View Details
    • $775,000
      Pending

      Mixed-Use Property in Neptune Township

      Income-generating property with retail and residential units in Neptune Township.
      1528 Monroe Ave, Neptune, NJ 07753
      View Details
    • $100,000

      Established Salon in Neptune Township

      Premier salon for sale in vibrant Neptune Township, New Jersey.
      3705 Rte 33, Neptune, NJ 07753
      View Details
    • $1,399,000
      1,382 SF

      Route 66 Commercial Property

      1.27 acres with highway frontage, high traffic, and visibility.
      3430 State Route 66, Neptune, NJ 07753
      View Details
    • $750,000

      Commercial Office Building For Sale

      Office building with handicap access on a corner double lot.
      601/603 State Route 35, Neptune, NJ 07753
      View Details
    • $2,950,000
      11,700 SF

      Freestanding Office/Flex Building on 4.8 Acres

      Single-story office/flex building on 4.8 acres with redevelopment potential.
      3310 New Jersey 66, Neptune, NJ 07753
      View Details
    • Contact for pricing

      Versatile Commercial Space in Neptune

      Adaptable commercial property on a bustling street with high visibility.
      242 Neptune Blvd, Neptune, NJ 07753
      View Details

    FAQs

    What type of property is this?
    School - Oversized lot with schoolhouse, ideal for school or subdivision.
    Where is this school located?
    The property is located at 640 Green Grove Rd Neptune, NJ.
    What is the asking price?
    The asking price for this property is $899,000.
    What are key features of this property?
    This property features: - Oversized, double corner lot offering high visibility and development potential.; - Existing schoolhouse with 3 rooms, office, and 3 bathrooms, suitable for continued use or conversion.; - Large, flat, fenced property providing ample space for various development plans.
    (732) 530-4687
    Request Owner's contact information
    640 Green Grove Rd Neptune, NJ 07753
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    640 Green Grove Rd
    Neptune, NJ 07753
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    640 Green Grove Rd Neptune, NJ 07753
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    George Notte
    (732) 530-4687
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!