Updated Two-Story Office
For Sale
$1,250,000
Pending
113 Tindall Road, Middletown, NJ 07748
Commercial Sale, Middletown, NJ
Property Size4,089 SF
Lot Size0.68 Acres
Days on Market208
Property Features for 113 Tindall Road
General Information
Property type
Commercial Sale
Property subtype
Office
Parking
30
Parking features
Parking Lot
Directions
Use gps
Subdivision
Middletown
Standard status
Pending
APN
32-00642-0000-00006-03
Size
4,089 SF
Lot size
0.68 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
18262
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1908
Floors in Building
2
Listing Agency:
RE/MAX First Realty · RE/MAX International
(732) 257-3500
Listed By:
Jane Mueller
(732) 322-2908
Added: Feb 24
Changed: Sep 3
Last Checked: Sep 20 at 6:06PM
MLS# 22604733
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.
Located at 113 Tindall Road, this updated professional office property provides 4,089 square feet across two stories. The interior combines reception space, private offices, conference rooms, a kitchen, open bullpen areas, and a large multipurpose room suitable for meetings or training. Restrooms serve both floors, while original hardwood flooring and woodwork remain alongside recessed lighting and newer HVAC and electrical systems.
Two attached two-car garages provide four garage spaces for storage or other property-related needs. The building also includes a partial basement and attic. Approximately 60 parking spaces are available in a shared lot with the adjacent building. Public water and public sewer serve the property, with access to Red Bank, Long Branch, and Newark Liberty International Airport approximately 50 minutes away.
Two attached two-car garages provide four garage spaces for storage or other property-related needs. The building also includes a partial basement and attic. Approximately 60 parking spaces are available in a shared lot with the adjacent building. Public water and public sewer serve the property, with access to Red Bank, Long Branch, and Newark Liberty International Airport approximately 50 minutes away.
Key Highlights
- 4,089‑square‑foot professional office building at 113 Tindall Road
- Two‑story layout with private offices, open bullpen areas, conference rooms, and a multipurpose training room
- Approximately 60 shared parking spaces serve employees and visitors
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
$62,562
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
5.00%
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%
$1,251,240
$1.3M
Cap Rate 7%
$893,743
$893.7K
Cap Rate 9%
$695,133
$695.1K
Market Conditions
NOI Build-Up for 4,089 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
$122.7K $30.00/SF
− Vacancy
−$39.3K −$9.60/SF
EGI
$83.4K $20.40/SF
− OpEx
−$20.9K −$5.10/SF
NOI
$62.6K $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%
$1,251,240
Cap Rate 7%
$893,743
Cap Rate 9%
$695,133
Alternative Uses
Best Use
Office B
$893.7K
$782.0K – $1.04M
NOI $62,562 @ 7.0% cap · market cap 5.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.07M
$934.3K – $1.25M
NOI $74,740 @ 7.0% cap · market cap 5.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
388
Businesses Nearby
Explore this area
Business Placement
Demographics for 07748, NJ
28,169
Population
10,446
Households
2.7
Avg Household Size
43
Median Age
52%
College-Educated
96%
High-School Grad
13.0 sq mi
ZIP Area
2,167
Density / Sq Mi
$152,488
Median Household Income
$72,287
Median Earnings
$1,483
Median Rent
$568,000
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Office building - Flexible professional workspace includes private offices, conference areas, kitchen facilities, and open bullpen space across two levels.
Where is this office building located?
The property is located at 113 Tindall Road Middletown, NJ.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 4,089‑square‑foot professional office building at 113 Tindall Road; Two‑story layout with private offices, open bullpen areas, conference rooms, and a multipurpose training room; Approximately 60 shared parking spaces serve employees and visitors
