Brick Office
For Sale
$459,999
102-104 Manchester Boulevard, Whiting, NJ 08759
COMMERCIAL - Whiting, NJ
Property Size957 SF
Lot Size0.61 Acres
Price / SF$480.67
Days on Market136
Property Features for 102-104 Manchester Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
WTB1
Parking
1
Lot features
Near Shopping, Level
Directions
RT.70 to Manchester Blvd
Standard status
Active
APN
19000852000003
Size
957 SF
Lot size
0.61 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5104
Utilities
Sewer type
Septic Tank
Heating system
Baseboard
Cooling system
Window Unit(s)
Water source
Well
Building Details
Year built
1961
Floors in Building
1
Flooring type
Tile, Wood
Building materials
Brick
Roof type
Asphalt
Listing Agency:
REAL
(855) 450-0442
Listed By:
Amanda Dasilva
(212) 380-3203
Added: Apr 9
Changed: Aug 4
Last Checked: Aug 22 at 2:06AM
MLS# 2613612R
Copyright © 2026 All Jersey 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 brick office building is offered as part of a sale that includes 102 and 104 Manchester Boulevard in Whiting, NJ. The property includes a 957 SF building suitable for medical, attorney, or other professional office use, supported by wood and tile flooring. The building was constructed in 1961 and features baseboard heating and window unit cooling, with an asphalt shingle roof.
The combined lot size is 0.61 acres, and the property is served by a well water source and a septic tank sewer system. Zoning is WTB1, a mixed-use designation intended to support a range of commercial and redevelopment possibilities.
The layout can serve day-to-day office operations, with systems that include baseboard heat and window AC units for tenant comfort.
The combined lot size is 0.61 acres, and the property is served by a well water source and a septic tank sewer system. Zoning is WTB1, a mixed-use designation intended to support a range of commercial and redevelopment possibilities.
The layout can serve day-to-day office operations, with systems that include baseboard heat and window AC units for tenant comfort.
Key Highlights
- Includes 102 and 104 Manchester Boulevard
- 957 SF office building
- 0.61‑acre combined lot size
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
$14,642
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
3.18%
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%
$292,840
$292.8K
Cap Rate 7%
$209,171
$209.2K
Cap Rate 9%
$162,689
$162.7K
Market Conditions
NOI Build-Up for 957 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
$28.7K $30.00/SF
− Vacancy
−$9.2K −$9.60/SF
EGI
$19.5K $20.40/SF
− OpEx
−$4.9K −$5.10/SF
NOI
$14.6K $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%
$292,840
Cap Rate 7%
$209,171
Cap Rate 9%
$162,689
Alternative Uses
Best Use
Office B
$209.2K
$183.0K – $244.0K
NOI $14,642 @ 7.0% cap · market cap 3.18%
Second Best
Healthcare Medical
$203.6K
$178.1K – $237.5K
NOI $14,249 @ 7.0% cap · market cap 3.10%
Theoretical Best
Office A
$249.9K
$218.7K – $291.5K
NOI $17,492 @ 7.0% cap · market cap 3.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
269
Businesses Nearby
Explore this area
Business Placement
Demographics for 08759, NJ
34,547
Population
22,101
Households
1.6
Avg Household Size
69
Median Age
23%
College-Educated
93%
High-School Grad
61.3 sq mi
ZIP Area
564
Density / Sq Mi
$55,000
Median Household Income
$41,089
Median Earnings
$1,324
Median Rent
$176,600
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Brick office building on a 0.61-acre lot with WTB1 mixed-use zoning and well-and-septic utilities.
Where is this office building located?
The property is located at 102-104 Manchester Boulevard Whiting, NJ.
What is the asking price?
The asking price for this property is $459,999.
What are key features of this property?
This property features: Includes 102 and 104 Manchester Boulevard; 957 SF office building; 0.61‑acre combined lot size
