Building Details

Building Size 957 SF

Year Built 1961

Stories 1

Units 1

Listing Agency: Real Broker LLC

Listed By: Amanda Nadia DaSilva Show Phone

Source: Elliman

Added: Apr 10 Changed: Oct 16 Last Checked: Oct 16 at 10:08AM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Real Broker LLC

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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 / Yr

$14,642

Cap Rate

3.18%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$292,840 $292.8K

Cap Rate 7%

$209,171 $209.2K

Cap Rate 9%

$162,689 $162.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 957 SF

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 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. How Realmo checks its estimates

Property Analytics

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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

Similar Off Market Nearby

• Whiting Veterinary Clinic — 108 Lacey Rd #14, Whiting, NJ 08759

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.