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    Prime Office Space Near Fort Title is generated by Realmo AI

    59 Avenue At The Common #101/102, Shrewsbury, NJ 07702

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    For Sale
    $819,900

    Professional office space near Fort Monmouth Redevelopment Project.

    Type:Commercial
    Property size:
    3,500 SF
    Price / SF:
    $234/SF
    Added:
    May 8, 2025
    Days on Market:
    403
    Last Refresh:
    Apr 5 at 8:43 pm

    Property Features for 59 Avenue At The Common #101/102

    General Information

    Standard status
    Active
    Size
    3,500 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    1984

    We can help!

    Listing Contact
    KERRIN O'BRIEN

    Listing agent KERRIN O'BRIEN

    Listing office O'BRIEN REALTY, LLC

    Listing date May 8, 2025

    Source Corcoran

    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 O'BRIEN REALTY, LLC

    HighLights

    • Priced Below Assessed Value
    • Approximately 3,500 SF of prime professional office space
    • Direct access to Route 35
    • Less than half a mile from the Fort Monmouth Redevelopment Project/Netflix production studios
    • Includes 9+ private offices, conference room, reception area, and kitchenette
    • Well‑maintained, professionally managed building with elevator and secure storage

    Overview

    This is approximately 3,500 square feet of professional office space in Shrewsbury, with direct access to Route 35. The property is less than half a mile from the Main Gate of the Fort Monmouth Redevelopment Project. The offering includes two contiguous first-floor condo units featuring 9+ private offices, a spacious reception area, a dedicated conference room, and a kitchenette with rear access. A dry basement provides secure storage. The full wing of a professionally managed building benefits from abundant natural light, an elevator, new siding, and an upgraded front entry porch.

    Local Financial Insights For Office B

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $105.0k $30.00
    − Vacancy −$33.6k −$9.60
    EGI $71.4k $20.40
    − OpEx −$17.9k −$5.10
    NOI $53.6k $15.30
    3,500 SF · lease $30.00/SF/yr · vacancy 32.00% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $765.0K
    $669.4K – $892.5K (±1% cap)
    NOI $53,550 @ 7.0% cap · market cap 6.53%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $913.9K
    $799.7K – $1.07M (±1% cap)
    NOI $63,974 @ 7.0% cap · market cap 7.80%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Office Units

    Map

    City
    Shrewsbury
    County
    Monmouth
    State
    New Jersey
    Longitude
    -74.0595
    Latitude
    40.3253

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    FAQs

    What type of property is this?
    Office units - Professional office space near Fort Monmouth Redevelopment Project.
    Where is this office units located?
    The property is located at 59 Avenue At The Common #101/102 Shrewsbury, NJ.
    What is the asking price?
    The asking price for this property is $819,900.
    What are key features of this property?
    This property features: Priced Below Assessed Value; Approximately 3,500 SF of **prime professional office space**; Direct access to Route 35
    (732) 229-3532
    We can help!
    Listing Contact
    KERRIN O'BRIEN
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