Renovated Flex Space with
For Sale
$1,900,000
Pending
1029 Us 9, Howell, NJ 07731
COMMERCIAL - Howell, NJ
Property Size5,990 SF
Lot Size0.80 Acres
Days on Market234
Property Features for 1029 Us 9
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Parking features
Guest, Parking Lot, Paved or Surfaced
Security features
Security System
Exterior features
Lighting
Directions
Rt 9 North to 1029 Hwy 9
Standard status
Pending
APN
21-00144-0000-00124
Size
5,990 SF
Lot size
0.80 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
22590
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air, Electric
Water source
Public
Amenities
Conference Room
Kitchenette
Full Bath
Building Details
Floors in Building
2
Listing Agency:
RE/MAX Central · RE/MAX International
(732) 972-1000
Listed By:
Nancy Coviello
(732) 972-1000
Added: Dec 18, 2025
Changed: Aug 7
Last Checked: Aug 9 at 3:06PM
MLS# 22537009
Copyright © 2026 More 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.
Completely renovated flex space with a warehouse and showroom layout designed for customer-facing operations. The first floor includes showroom displays, customer sales desks, a reception area, and three additional private offices, along with a loading area for materials and access to the large warehouse. The second floor features an open work area, a private office with French doors opening to a spacious conference room, plus a new kitchenette and a new full bath.
The property is located at 1029 US 9 in Howell, NJ, on a 0.8-acre site. It offers both ample unpaved lot parking and a paved parking area for clients.
Built with forced-air heating and central air with electric cooling, the exterior includes lighting. The building has leased solar panels and is served by public water and public sewer.
The property is located at 1029 US 9 in Howell, NJ, on a 0.8-acre site. It offers both ample unpaved lot parking and a paved parking area for clients.
Built with forced-air heating and central air with electric cooling, the exterior includes lighting. The building has leased solar panels and is served by public water and public sewer.
Key Highlights
- Completely renovated flex space with warehouse and showroom, including customer sales desks and reception plus three private offices
- Loading area access to a large warehouse for materials
- 0.8‑acre site with ample unpaved lot parking and paved client parking
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
Office B
$1.31M
$1.15M – $1.53M
NOI $91,647 @ 7.0% cap · market cap 4.82%
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
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
253
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 Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Completely renovated flex space with warehouse, showroom, and dedicated loading area plus paved client parking.
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 flex space with warehouse and showroom, including customer sales desks and reception plus three private offices; Loading area access to a large warehouse for materials; 0.8‑acre site with ample unpaved lot parking and paved client parking
