Listing Agency: RE/MAX CENTRAL Show Phone

Listed By: NANCY COVIELLO

Source: Corcoran

Added: Dec 18, 2025 Changed: Oct 7 Last Checked: Oct 9 at 8:17PM

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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 / Yr

$98,254

Cap Rate

5.17%

Suggested Prices Based on Cap Rates

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

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 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 (±1% cap)

NOI $98,254 @ 7.0% cap · market cap 5.17%

Second Best

Retail

$1.22M

$1.07M – $1.42M (±1% cap)

NOI $85,497 @ 7.0% cap · market cap 4.50%

Theoretical Best

Office A

$1.56M

$1.37M – $1.82M (±1% cap)

NOI $109,488 @ 7.0% cap · market cap 5.76%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Restaurant Real Estate Agency Dental Office Law Firm Hair Salon Auto Parts Store

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

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

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this flex 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?

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)