Freehold Retail
For Sale
$1,000,000
61 W Main St, Freehold, NJ 07728
Freestanding building in downtown Freehold with high visibility.
Property Size3,410 SF
Lot Size0.82 Acres
Price / SF$293.26
Days on Market164
Property Features for 61 W Main St
General Information
Standard status
Active
Size
3,410 SF
Lot size
0.82 Acres
Property subtype
Retail
Building Details
Building Size
3,410 SF
Listing Agency:
(917) 478-7771
Listed By:
Angela Courtney
(917) 478-7771
Source:
Sitarcompany
Added: Mar 6
Changed: Aug 9
Last Checked: Aug 17 at 5:49AM
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 Angela Courtney
Investment Insights
Based on property information with market context.
This 3,410 square foot freestanding building is located in Freehold, New Jersey. The property features 129 feet of frontage on West Main Street and 119 feet of frontage on Main Street. The property is zoned B2 (Business District), allowing for a variety of commercial uses including retail, office, and services, subject to local municipal approval. The location is near downtown Freehold's dining, retail, and professional services hub, as well as major retail areas like Freehold Raceway Mall and the Route 9/33 corridors. The property is suitable for banking, retail showroom, office, medical, or other service-oriented tenants. The lot size is approximately 0.82 acres, providing room for signage, landscaping, and parking. The property is located minutes from Route 9 and Route 33. The property is ideal for owner-occupiers or investors.
Key Highlights
- Prime location in the heart of Freehold, NJ, with high visibility due to 129' frontage on West Main and 119' on Main Street.
- Generous ±10.82 acre lot size allows for ample parking, signage, and landscaping.
- Zoned B2 (Business District) permits a variety of commercial uses including retail, office, and services.
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
$52,148
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
5.21%
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%
$1,042,960
$1.0M
Cap Rate 7%
$744,971
$745.0K
Cap Rate 9%
$579,422
$579.4K
Market Conditions
NOI Build-Up for 3,410 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
$73.7K $21.60/SF
− Vacancy
−$4.1K −$1.21/SF
EGI
$69.5K $20.39/SF
− OpEx
−$17.4K −$5.10/SF
NOI
$52.1K $15.29/SF
Area
Monmouth County, NJ
Vacancy
5.60%
Lease Rate
$21.60 /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%
$1,042,960
Cap Rate 7%
$744,971
Cap Rate 9%
$579,422
Alternative Uses
Best Use
Specialty Retail
$745.0K
$651.9K – $869.1K
NOI $52,148 @ 7.0% cap · market cap 5.21%
Second Best
Retail
$695.3K
$608.4K – $811.2K
NOI $48,672 @ 7.0% cap · market cap 4.87%
Theoretical Best
Office A
$890.4K
$779.1K – $1.04M
NOI $62,329 @ 7.0% cap · market cap 6.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,408
Businesses Nearby
21k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
BP
Shops & Services
9,209 visits/mo
0.1 miles
Wells Fargo
Shops & Services
6,928 visits/mo
0.1 miles
7-Eleven
Shops & Services
4,834 visits/mo
0.1 miles
Carstar
Shops & Services
211 visits/mo
0.1 miles
Demographics for 07728, NJ
56,444
Population
21,150
Households
2.7
Avg Household Size
43
Median Age
46%
College-Educated
92%
High-School Grad
49.6 sq mi
ZIP Area
1,138
Density / Sq Mi
$107,042
Median Household Income
$56,824
Median Earnings
$1,941
Median Rent
$490,000
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Bank - Freestanding building in downtown Freehold with high visibility.
Where is this bank located?
The property is located at 61 W Main St Freehold, NJ.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Prime location in the heart of Freehold, NJ, with high visibility due to 129' frontage on West Main and 119' on Main Street.; Generous ±10.82 acre lot size allows for ample parking, signage, and landscaping.; Zoned B2 (Business District) permits a variety of commercial uses including retail, office, and services.
