Office Condo with Three Private
For Sale
$225,000
Pending
104-2 Hartford Dr, Tinton Falls, NJ 07701
Compact professional suite with a private bathroom and association-covered maintenance for streamlined ownership.
Property Size750 SF
Days on Market98
Property Features for 104-2 Hartford Dr
General Information
Standard status
Pending
Size
750 SF
Listing Agency:
G & G Agency Inc
(732) 531-2000
Listed By:
Michael Gruosso · License #0566857
(732) 531-2000
Source:
Exprealty
Added: May 27
Changed: Aug 30
Last Checked: Aug 31 at 12:25AM
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 G & G Agency Inc
Investment Insights
Based on property information with market context.
This approximately 750 SF office condominium provides three private offices, a private bathroom, and adaptable workspace for professional operations. The layout offers a practical setting for an owner-user seeking a dedicated business address in a manageable footprint.
The property is in Tinton Falls, minutes from downtown Red Bank and the Netflix Fort Monmouth campus. Association coverage supports low-maintenance ownership, allowing the occupant to concentrate on business activities rather than routine property upkeep.
The property is in Tinton Falls, minutes from downtown Red Bank and the Netflix Fort Monmouth campus. Association coverage supports low-maintenance ownership, allowing the occupant to concentrate on business activities rather than routine property upkeep.
Key Highlights
- Approximately 750 SF office condo
- Three private offices and a private bathroom
- Flexible interior space that can be customized for professional use
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
$11,475
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
5.10%
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%
$229,500
$229.5K
Cap Rate 7%
$163,929
$163.9K
Cap Rate 9%
$127,500
$127.5K
Market Conditions
NOI Build-Up for 750 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
$22.5K $30.00/SF
− Vacancy
−$7.2K −$9.60/SF
EGI
$15.3K $20.40/SF
− OpEx
−$3.8K −$5.10/SF
NOI
$11.5K $15.30/SF
Area
Monmouth 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%
$229,500
Cap Rate 7%
$163,929
Cap Rate 9%
$127,500
Alternative Uses
Best Use
Office B
$163.9K
$143.4K – $191.3K
NOI $11,475 @ 7.0% cap · market cap 5.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$195.8K
$171.4K – $228.5K
NOI $13,709 @ 7.0% cap · market cap 6.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,307
Businesses Nearby
Explore this area
Business Placement
Demographics for 07701, NJ
24,568
Population
11,082
Households
2.2
Avg Household Size
43
Median Age
53%
College-Educated
93%
High-School Grad
9.2 sq mi
ZIP Area
2,670
Density / Sq Mi
$113,630
Median Household Income
$62,309
Median Earnings
$1,971
Median Rent
$551,500
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?
Office units - Compact professional suite with a private bathroom and association-covered maintenance for streamlined ownership.
Where is this office units located?
The property is located at 104-2 Hartford Dr Tinton Falls, NJ.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Approximately 750 SF office condo; Three private offices and a private bathroom; Flexible interior space that can be customized for professional use
