Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Brick, NJ Commercial Land Title is generated by Realmo AI

    982 Falkenberg Road, Brick, NJ 08724

    View on Map
    Claim this Listing
    For Sale
    $295,000

    COMMERCIAL - Brick, NJ

    Property size:
    1,080 SF
    Lot size:
    0.46 Acres
    Price / SF:
    $273/SF
    Added:
    Feb 10, 2026
    Days on Market:
    100
    Last Refresh:
    May 21 at 10:06 pm

    Property Features for 982 Falkenberg Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking features
    Off Street
    Standard status
    Active
    APN
    07-01170-0000-00016-01
    Size
    1,080 SF
    Lot size
    0.46 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    3518

    Utilities

    Sewer type
    Septic Tank
    Water source
    Public

    Building Details

    Year built
    1940
    Floors in Building
    1

    We can help!

    Listing Contact
    Mary Hart

    Listing agent Mary Hart

    Listing office EXIT Realty East Coast Shirvanian 57 E Main Street, Holmdel, NJ

    Listing date Feb 10, 2026

    MLS# 22603656

    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.

    HighLights

    • Half‑acre parcel with Hospital Support/Residential zoning offers exceptional flexibility.
    • Prime location near hospitals, commercial hubs, and major commuter routes.
    • Situated at the end of a quiet road, providing added privacy.
    • Existing structure with approximately 1,080 sq ft and a full walk‑in basement offers a strong foundation.
    • Off‑street parking available.
    • Rare opportunity due to the property's flexibility and positioning.

    Overview

    This half-acre parcel, zoned Hospital Support/Residential, offers flexibility for redevelopment, renovation, rental potential, or professional use. The existing structure includes approximately 1,080 square feet and a full walk-in basement. The property is located at the end of a quiet road and is in close proximity to hospitals, commercial hubs, and major commuter routes. The property is being sold as-is.

    Financial Insights

    Value Estimation Calculated for Office B

    Conservative
    $183.6K
    NOI $16,524 @ 9.00% cap · cautious / downside scenario
    Moderate
    $236.1K
    NOI $16,524 @ 7.00% cap · market / base-case scenario
    Aggressive
    $330.5K
    NOI $16,524 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    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.
         Calculated for Office B

    Component $ $/SF
    Gross rent $32.4k $30.00
    − Vacancy −$10.4k −$9.60
    EGI $22.0k $20.40
    − OpEx −$5.5k −$5.10
    NOI $16.5k $15.30
    1,080 SF · lease $30.00/SF/yr · vacancy 32.00% · expense 25.00%

    Alternative Use Scenarios

    Best Use
    Office B
    $236.1K
    $206.6K – $275.4K (±1% cap)
    NOI $16,524 @ 7.0% cap · market cap 5.60%
    Second Best
    Healthcare Medical
    $229.7K
    $201.0K – $268.0K (±1% cap)
    NOI $16,081 @ 7.0% cap · market cap 5.45%
    Theoretical Best
    Office A
    $282.0K
    $246.8K – $329.0K (±1% cap)
    NOI $19,741 @ 7.0% cap · market cap 6.69%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Brick
    County
    Ocean
    State
    New Jersey
    Longitude
    -74.127172
    Latitude
    40.074494

    Nearby Similar for Sale

    • $2,250,000
      2,824 SF

      Freestanding Retail/Office Opportunity in Brick

      High-traffic location, flexible layout, drive-thru infrastructure, ready for occupancy.
      120 Jack Martin Boulevard, Brick, NJ 08724
      View Details
    • $834,000

      Waterfront Shopping Plaza in Brick

      Highly visible shopping plaza with water views and redevelopment potential.
      2715 Hooper Avenue, Brick, NJ 08723
      View Details
    • $1,650,000
      4,090 SF

      Turnkey Commercial Building in Brick

      Renovated 4,090 SF commercial building with flexible layout and parking.
      516 Duquesne Boulevard, Brick, NJ 08723
      View Details
    • $465,000
      1,225 SF

      Office Space Near Hospital

      Office space featuring a waiting room, reception, and kitchenette.
      1480 Route 88, Brick, NJ 08724
      View Details
    • $1,550,000
      4,600 SF

      Mixed-Use Property in Adamston Corridor

      Income-producing property with commercial space and residential unit.
      437 Adamston Road, Brick, NJ 08723
      View Details
    • $659,000

      Updated Commercial Building in Brick

      Fully renovated commercial building with modern amenities and flexible space.
      736 Mantoloking Road, Brick, NJ 08723
      View Details
    • $519,000

      Commercial Property in Brick, NJ

      Contractor showroom and office space with storage and parking.
      1681 Route 88, Brick, NJ 08724
      View Details
    • $575,000

      Renovated Office/Retail Building on Hooper

      Move-in-ready office/retail building with frontage on Hooper Avenue.
      2597 Hooper Avenue, Brick, NJ 08723
      View Details
    • $1,050,000

      High-End Retail Building For Sale

      Newer construction retail building with great exposure in Brick, NJ.
      431 Mantoloking Road, Brick, NJ 08723
      View Details
    • $880,000
      1,259 SF

      Legal Multi-Family Property

      Three-unit property with separate dwellings, ideal for investors or owners.
      183 Cherry Quay Road, Brick, NJ 08723
      View Details
    • $100,000

      Prime Retail/Office Space, Brick NJ

      Excellent visibility, high-traffic location, ideal for retail, office, or service.
      2520 Hooper Avenue, Brick, NJ 08723
      View Details
    • $2,800,000
      10,000 SF

      Mixed-Use Property in Brick, NJ

      Versatile property with residential, commercial kitchen, and storage spaces.
      346 Drum Point Road, Brick, NJ 08723
      View Details

    FAQs

    What type of property is this?
    Commercial land - Half-acre parcel near hospitals with redevelopment and professional use potential.
    Where is this commercial land located?
    The property is located at 982 Falkenberg Road Brick, NJ.
    What is the asking price?
    The asking price for this property is $295,000.
    What are key features of this property?
    This property features: Half‑acre parcel with Hospital Support/Residential zoning offers exceptional flexibility.; Prime location near hospitals, commercial hubs, and major commuter routes.; Situated at the end of a quiet road, providing added privacy.
    (732) 946-2000
    We can help!
    Listing Contact
    Mary Hart
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    982 Falkenberg Road, Brick, NJ 08724
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!