Two-Story Professional Office
For Sale
$1,250,000
113 Tindall Road Unit 113, Middletown, NJ 07748
Updated office property with private rooms, collaborative areas, conference facilities, and attached garage storage.
Property Size4,089 SF
Price / SF$305.70
Days on Market247
Property Features for 113 Tindall Road Unit 113
General Information
Standard status
Active
Size
4,089 SF
Total Parking Spaces
60
Property subtype
Office
Amenities
reception area
conference room
kitchen
multi-purpose conference or training room
garages
3
30 Parking Spaces. On Site.
Building Details
Year Built
1908
Buildings
1
Stories
2
Listing Agency:
RE/MAX First Realty
(732) 257-3500
Listed By:
Jane Mueller
(732) 257-3500
Source:
Xome
Added: Dec 27, 2025
Changed: Aug 29
Last Checked: Aug 30 at 2:28PM
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 RE/MAX First Realty
Investment Insights
Based on property information with market context.
Located at 113 Tindall Road in Middletown, this 4,089-square-foot office building provides two levels of professional workspace. The first floor includes a reception area, private offices, a conference room, and a kitchen. Upstairs are additional offices, open bullpen areas, and a large multipurpose room suitable for conferences or training. Restrooms serve both floors.
The expanded and modernized building incorporates recessed lighting along with newer HVAC and electrical systems, while select hardwood flooring and woodwork remain. Two attached 2-car garages provide additional storage capacity. The property is approximately a 50-minute drive from Newark Liberty International Airport, with access to the business districts of Red Bank and Long Branch to the south.
The expanded and modernized building incorporates recessed lighting along with newer HVAC and electrical systems, while select hardwood flooring and woodwork remain. Two attached 2-car garages provide additional storage capacity. The property is approximately a 50-minute drive from Newark Liberty International Airport, with access to the business districts of Red Bank and Long Branch to the south.
Key Highlights
- 4,089‑square‑foot two‑story professional office building
- First floor includes reception, private offices, conference room, and kitchen
- Second floor offers private offices, open bullpen areas, and a large multipurpose room
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 property with private rooms, collaborative areas, conference facilities, and attached garage storage.
Where is this office building located?
The property is located at 113 Tindall Road Unit 113 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 two‑story professional office building; First floor includes reception, private offices, conference room, and kitchen; Second floor offers private offices, open bullpen areas, and a large multipurpose room
