Two-Story Professional Office
For Sale
$1,250,000
Pending
113 Tindall Road, Middletown, NJ 07748
COMMERCIAL - Middletown, NJ
Property Size4,089 SF
Lot Size0.68 Acres
Days on Market189
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
Amenities
reception area
private offices
conference room
kitchen
open workspace
multi-purpose conference or training room
garages
partial basement
attic
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) 257-3500
Added: Feb 24
Changed: Aug 4
Last Checked: Sep 1 at 2:06AM
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.
113 Tindall Road is an updated two-story professional office building with a functional floor plan for a range of professional uses. The property retains select original hardwood flooring and woodwork, while the expanded footprint has been modernized with recessed lighting and newer HVAC and electrical systems. The first floor offers a reception area, several large private offices, a conference room, and a kitchen, with restrooms conveniently located on the same level. The second floor includes additional private offices, open workspace or bullpen areas, and a very large multi-purpose conference or training room, with restrooms on both levels for day-to-day convenience. A partial basement and attic provide additional utility space.
The building includes two attached two-car garages (four total garages) that can support storage needs or other supplemental use. Approximately 60 parking spaces are available on the lot, shared with the adjacent building, supporting employee and visitor parking. The property is positioned in Middletown, with access to nearby business districts to the south and regional connectivity to the north via Newark Liberty International Airport.
This property is well suited for accounting, legal, insurance, consulting, sales, and other general professional office operations that benefit from a mix of private offices, collaborative bullpen-style work areas, and larger meeting or training space. The garage and shared parking provide practical support for both staff and visiting clients.
The building includes two attached two-car garages (four total garages) that can support storage needs or other supplemental use. Approximately 60 parking spaces are available on the lot, shared with the adjacent building, supporting employee and visitor parking. The property is positioned in Middletown, with access to nearby business districts to the south and regional connectivity to the north via Newark Liberty International Airport.
This property is well suited for accounting, legal, insurance, consulting, sales, and other general professional office operations that benefit from a mix of private offices, collaborative bullpen-style work areas, and larger meeting or training space. The garage and shared parking provide practical support for both staff and visiting clients.
Key Highlights
- Excellent visibility and prominent location with convenient access to Red Bank, Long Branch, and Newark Liberty International Airport.
- Well‑designed, highly functional layout suitable for a variety of professional uses.
- Approximately 60 parking spaces available.
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
Property Profile
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
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 building - Updated office building with private offices, open workspace, multiple conference rooms, and convenient on-site parking.
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: Excellent visibility and prominent location with convenient access to Red Bank, Long Branch, and Newark Liberty International Airport.; Well‑designed, highly functional layout suitable for a variety of professional uses.; Approximately 60 parking spaces available.
