Sign Up Successful!
You now have access to more from Realmo!
    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

    23 South St Freehold, NJ 07728

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Commercial space in downtown Freehold, ideal for various businesses.

    Property size:
    885 SF
    Lot size:
    0.21 Acres

    Property Features for 23 South St

    General Information

    Size
    885 SF
    Lot size
    0.21 Acres

    We can help!

    Listing Contact
    John R. Longo
    Source: Moodyscre

    Listing Agent: John R. Longo

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Downtown Freehold Commercial Space Available

    This commercial space offers approximately 885 square feet of vacant area. The layout includes two bathrooms. Situated in a convenient downtown Freehold location, the property benefits from its proximity to the Monmouth County Court House, County Clerk Offices, shops, and restaurants. Abundant parking is available. The space is suitable for various uses, including therapy, dance, art, music, or a personal gym.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office space

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Freehold
    County
    Monmouth
    State
    New Jersey
    Longitude
    -74.2738307
    Latitude
    40.2592463

    Nearby Similar for Lease

    • $4,250 /Mo
      98,010 SF

      Renovated Office Space on 537

      Renovated office space with ample parking and natural light.
      352 Monmouth Rd, Freehold, NJ 07728
      View Details
    • Contact for pricing
      1,700 SF

      Freehold Office Space Available

      1700 SF office space for rent in Freehold, NJ.
      39 Throckmorton St, Freehold, NJ 07728
      View Details
    • Contact for pricing
      5,576 SF

      Remodeled Office Space in Freehold

      Remodeled office space for rent in downtown Freehold, New Jersey.
      30 South St, Freehold, NJ 07728
      View Details
    • Contact for pricing
      2,614 SF

      Freehold Office Space For Rent

      Office space in the heart of Freehold, great visibility.
      4 B, Freehold, NJ 07728
      View Details
    • Contact for pricing
      5,576 SF

      Remodeled Office Space in Freehold

      Remodeled office space for rent in downtown Freehold, New Jersey.
      30 South St, Freehold, NJ 07728
      View Details
    • $10,000 /Mo
      29,074 SF

      Freehold Commercial Space For Rent

      12,000 SF commercial space ideal for childcare and education.
      Freehold, NJ 07728
      View Details
    • New
      $2,500 /Mo
      Pending

      Freehold Office Space For Rent

      First-floor office space suitable for medical or general business.
      80 Scenic Dr, Freehold, NJ 07728
      View Details
    • $750 /Mo
      3,485 SF

      Professional Office Space Available

      Ground floor office space in Freehold Borough available immediately.
      31 W Main St, Freehold, NJ 07728
      View Details
    • Contact for pricing

      Office Space Near CentraState Hospital

      Office space suitable for medical or professional use, near hospital.
      900 W Main St, Freehold, NJ 07728
      View Details
    • Contact for pricing

      Freehold Office Space Available

      Office spaces for rent in Freehold, NJ with tenant amenities.
      3 Paragon Way, Freehold, NJ 07728
      View Details
    • $3,000 /Mo

      Updated Apartment with Modern Features

      Three-bedroom apartment with updated kitchen and convenient location.
      19 Augusta Ct, Freehold, NJ 07728
      View Details
    • $16 SF/Yr
      100,714 SF

      Willowbrook Road Warehouse Space

      Modern Warehouse, Flexible Space, Monmouth County
      245 Willow Brook Rd, Freehold, NJ 07728
      View Details

    FAQs

    What type of property is this?
    Office space - Commercial space in downtown Freehold, ideal for various businesses.
    Where is this office space located?
    The property is located at 23 South St Freehold, NJ.
    What are key features of this property?
    This property features: - Convenient downtown freehold location; - ±885 sf of vacant commercial space; - Perfect for therapy, dance, art, music, or personal gym
    (908) 803-1876
    Request Owner's contact information
    23 South St Freehold, NJ 07728
    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.
    23 South St
    Freehold, NJ 07728
    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
    23 South St Freehold, NJ 07728
    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

    We can help!
    Listing Contact
    John R. Longo
    (908) 803-1876
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.