Building Details

Building Size 957 SF

Year Built 1961

Stories 1

Units 1

Listing Agency: Real Broker LLC a***@amandanadiagroup.com Show Phone

Listed By: AMANDA NADIA DASILVA

Source: Elliman

Added: Apr 10 Changed: Aug 16 Last Checked: Aug 22 at 7:19AM

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Investment Insights

Based on property information with market context.

The property includes two lots with a combined area of 0.61 acres in a prime location. It features a 957 square foot building suitable for medical, attorney, or professional office use. The mixed-use zoning provides potential for investors, business owners, or redevelopment. The property offers high visibility and accessibility.

Key Highlights

• Prime location with high visibility and easy accessibility.
• Combined lot size of 0.61 acre.
• Mixed‑use zoning offers excellent potential for investors or redevelopment.

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 (±1% cap)

NOI $14,642 @ 7.0% cap · market cap 3.18%

Second Best

Healthcare Medical

$203.6K

$178.1K – $237.5K (±1% cap)

NOI $14,249 @ 7.0% cap · market cap 3.10%

Theoretical Best

Office A

$249.9K

$218.7K – $291.5K (±1% cap)

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

Medical Office Space

Suggested Use

Top Pick Real Estate Agency Building Supply Restaurant Big Box & Wholesale Store Spa & Massage Center Auto Repair Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

269

Businesses Nearby

Under-served

Demand for This Use

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

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this medical office space located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Medical Office Space - Office building on 0.61 acre lot, excellent potential.

Where is this medical office space located?

The property is located at 102 Manchester Blvd Manchester Twp, 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: Prime location with high visibility and easy accessibility.; Combined lot size of 0.61 acre.; Mixed‑use zoning offers excellent potential for investors or redevelopment.