Renovated Building with
For Sale
$1,900,000
Pending
1029 Us 9, Howell, NJ 07731
Renovated building with showroom, offices, and warehouse space.
Property Size5,990 SF
Lot Size0.80 Acres
Days on Market246
Property Features for 1029 Us 9
General Information
Standard status
Pending
Size
5,990 SF
Lot size
0.80 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$22,590
Amenities
Central air
Central Air Cooling
Forced Air Heating
Unpaved
Listing Agency:
RE/MAX CENTRAL
(732) 972-1000
Listed By:
NANCY COVIELLO
Source:
Corcoran
Added: Dec 18, 2025
Changed: Aug 8
Last Checked: Jul 23 at 8:06AM
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 RE/MAX CENTRAL
Investment Insights
Based on property information with market context.
This completely renovated building, situated in a great location on Route 9 North, features a showroom with displays, customer sales desks, and a reception area, along with three private offices on the first floor. A loading area provides access to a large warehouse for materials. The property includes an ample unpaved lot for parking, as well as a paved parking area for clients. The second floor office space includes an open work area, a private office with French doors that open to a spacious conference room, a new kitchenette with bead board and tile backsplash, and a new full bath. The property has leased solar panels and is connected to public water and sewer. The building's total size is 5990 square feet and is suitable for flex space, industrial, warehouse, showroom, retail, and office use.
Key Highlights
- Completely renovated building with warehouse and showroom
- Great location on Route 9 North
- Large warehouse with loading area and ample parking (paved and unpaved)
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
$98,254
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
5.17%
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%
$1,965,080
$2.0M
Cap Rate 7%
$1,403,629
$1.4M
Cap Rate 9%
$1,091,711
$1.1M
Market Conditions
NOI Build-Up for 5,990 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
$194.8K $32.52/SF
− Vacancy
−$43.6K −$7.28/SF
EGI
$151.2K $25.24/SF
− OpEx
−$52.9K −$8.83/SF
NOI
$98.3K $16.40/SF
Area
Monmouth County, NJ
Vacancy
22.40%
Lease Rate
$32.52 /SF/Yr
Expense Ratio
35.00%
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%
$1,965,080
Cap Rate 7%
$1,403,629
Cap Rate 9%
$1,091,711
Alternative Uses
Best Use
Flex RnD
$1.40M
$1.23M – $1.64M
NOI $98,254 @ 7.0% cap · market cap 5.17%
Second Best
Retail
$1.22M
$1.07M – $1.42M
NOI $85,497 @ 7.0% cap · market cap 4.50%
Theoretical Best
Office A
$1.56M
$1.37M – $1.82M
NOI $109,488 @ 7.0% cap · market cap 5.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
225
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 07731, NJ
39,677
Population
14,102
Households
2.8
Avg Household Size
40
Median Age
42%
College-Educated
94%
High-School Grad
31.8 sq mi
ZIP Area
1,248
Density / Sq Mi
$130,064
Median Household Income
$57,228
Median Earnings
$2,619
Median Rent
$454,900
Median Home Value
Market
Vacancy Rate% for Industrial 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?
Flex space - Renovated building with showroom, offices, and warehouse space.
Where is this flex space located?
The property is located at 1029 Us 9 Howell, NJ.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Completely renovated building with warehouse and showroom; Great location on Route 9 North; Large warehouse with loading area and ample parking (paved and unpaved)
