Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    744 Rte 70 Brick, NJ

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Well-located shopping center anchored by ShopRite, Kohl’s, Marshalls, Old Navy.

    Type:RETAIL
    Property size:
    2,038 SF
    Lot size:
    24.17 Acres
    Added:
    Jul 4, 2023
    Days on Market:
    1023
    Last Refresh:
    Apr 5 at 9:38 pm

    Property Features for 744 Rte 70

    General Information

    Standard status
    Active
    Size
    2,038 SF
    Lot size
    24.17 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 744 Rte 70 Contact us

    We can help!

    Listing Contact
    Patricia Zafferese
    Patricia Zafferese

    Listing agent Patricia Zafferese

    Listing office Urban Edge Properties

    Listing date Jul 4, 2023

    Source Moodyscre

    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 Urban Edge Properties

    Overview

    Retail Space in Brick Commons

    Brick Commons is a shopping center located at the intersection of Route 70 and Chambers Bridge Road in Ocean County. Anchored by ShopRite, Kohl’s, Marshalls, and Old Navy, the center also features a variety of smaller retailers. Fast casual restaurants, a hair salon, and cellular services are also present. The property benefits from regional access via the Garden State Parkway and proximity to Jersey Shore beach destinations. Brick Commons is adjacent to Quest Diagnostics and The Brownstones at New Visions housing complex. Available retail space is 2,038 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Shopping centers

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Town & Country Shopping Center — 1900 NJ-70, Lakewood, NJ 08701
    • Market Place at Brick — nj-70, brick township, nj 08723
    • The Market Place at Brick — 465-501 NJ-70, Brick Township, NJ 08723
    • Boulevard Square — 515 Brick Blvd, Brick Township, NJ 08723
    • Gnc Home Decor — 491 Brick Blvd, Brick Township, NJ 08723

    Location Insight

    • Map
    • Local Demand
    City
    Brick
    County
    Ocean
    State
    New Jersey
    Longitude
    -74.1434
    Latitude
    40.0599

    Nearby Similar for Lease

    • Contact for pricing

      Retail Space in Brick Township

      Retail space available in a busy Brick Township complex.
      101 Prosper Way, Brick, NJ 08724
      View Details
    • Contact for pricing

      Freestanding Retail/Office Opportunity in Brick

      High-traffic location, flexible layout, drive-thru infrastructure, ready for occupancy.
      120 Jack Martin Boulevard, Brick, NJ 08724
      View Details
    • Contact for pricing

      Medical Office Space Available

      Newly renovated medical office in Brick Township, Route 70.
      525 Route 70, Brick, NJ 08723
      View Details
    • Contact for pricing

      Retail Space in Drum Point Plaza

      1,637 SqFt retail space in a busy plaza.
      363 Brick Boulevard, Brick, NJ 08723
      View Details
    • Contact for pricing

      Brick, NJ Office Space

      First-floor office space with flexible layout and ground-level access.
      317 Brick Boulevard, Brick, NJ 08724
      View Details
    • Contact for pricing

      Retail/Commercial Space in Brick, NJ

      High-visibility retail/commercial space with flexible layout and ample parking.
      373 Herbertsville Road, Brick, NJ 08724
      View Details
    • Contact for pricing

      Office Space in Brick, NJ

      Office space with open reception, two offices, and bathroom.
      254 Brick Boulevard, Brick, NJ 08723
      View Details
    • Contact for pricing

      Brick Office Space For Rent

      Professional office space available in Brick, New Jersey.
      1659 Route 88 W, Brick, NJ 08724
      View Details
    • Contact for pricing

      Professional Office Space Available

      Well-maintained 900 SF office space in Brick, NJ.
      1869 Route 88, Brick, NJ 08724
      View Details
    • Contact for pricing

      Professional Office Space For Lease

      Office space in well-maintained building, convenient location, parking included.
      270 Drum Point Road, Brick, NJ 08723
      View Details
    • Contact for pricing

      Professional Office Space For Lease

      Office space in well-maintained building, convenient location, parking included.
      270 Drum Point Road, Brick, NJ 08723
      View Details
    • Contact for pricing

      Retail Space in Brick, NJ

      Retail space available in a busy neighborhood center.
      323 Drum Point Road, Brick, NJ 08723
      View Details

    FAQs

    What type of property is this?
    Shopping center - Well-located shopping center anchored by ShopRite, Kohl’s, Marshalls, Old Navy.
    Where is this shopping center located?
    The property is located at 744 Rte 70 Brick, NJ.
    What are key features of this property?
    This property features: Anchored by dominant ShopRite, Kohl’s, Marshalls, and Old Navy; Highly visible location at the intersection of Route 70 and Chambers Bridge Road; Diverse array of small shop retailers delivering convenience
    (212) 956-2556 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Patricia Zafferese
    Patricia Zafferese
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!