Updated Office Building with
For Sale
$1,250,000
Pending
113 Tindall Road, Middletown, NJ 07748
Two-story office building with garages and ample parking.
Property Size4,089 SF
Lot Size0.68 Acres
Days on Market189
Property Features for 113 Tindall Road
General Information
Standard status
Pending
Size
4,089 SF
Lot size
0.68 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$18,262
Amenities
On Site
Paver Block
Building Details
Year Built
1908
Listing Agency:
RE/MAX FIRST REALTY
(732) 257-3500
Listed By:
JANE MUELLER
Source:
Corcoran
Added: Feb 24
Changed: Aug 8
Last Checked: Jul 23 at 6:40AM
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.
The updated two-story professional office building at 113 Tindall Road offers excellent visibility. Originally constructed in the late 1700s as a farmhouse, the building retains select original hardwood flooring and woodwork. The original building footprint has been expanded and modernized with recessed lighting and newer HVAC and electrical systems. The first floor features a reception area, several large private offices, a conference room, and a kitchen. The second floor includes additional private offices, open workspace areas, and a large multi-purpose conference or training room. Restrooms are located on both levels. The large office sizes provide versatility to use as additional meeting and training rooms. The building also includes two attached two-car garages, totaling four garage spaces, that offer storage space. There is a partial basement and attic. The lot has approximately 60 parking spaces shared with the adjacent building. The building is suited for accounting, legal, insurance, consulting, sales, and a wide range of other professional and general office uses. The property is strategically located, offering convenient access to the business districts of Red Bank and Long Branch to the south, along with strong regional connectivity to the north. Newark Liberty International Airport is approximately a 50-minute drive away. The property has a size of 4089 square feet.
Key Highlights
- Excellent visibility and
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 - Two-story office building with garages and ample 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
