Two-Story Office
For Sale
$1,150,000
1045 Sally Ike Road, Brick, NJ 08724
Freestanding office property with garage space, monument signage, and modern HVAC systems.
Property Size5,109 SF
Days on Market33
Property Features for 1045 Sally Ike Road
General Information
Standard status
Active
Size
5,109 SF
Property subtype
Office
Additional Details
Highway Access
Yes
Amenities
garage space
monument sign
modern HVAC systems
Building Details
Building Size
5,109 SF
Buildings
1
Stories
2
Listing Agency:
The Kislak Company
(908) 415-8659
Listed By:
Matthew LoBocchiaro
(908) 415-8659
Source:
Kislakrealty
Added: Jul 30
Changed: Aug 26
Last Checked: Aug 30 at 2:09PM
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 The Kislak Company
Investment Insights
Based on property information with market context.
Freestanding two-story office building comprising 5,109 square feet in Brick Township. The property includes garage space, ample parking, a prominent monument sign, and modern HVAC systems.
Located at 1045 Sally Ike Rd, the property offers access to major highways and surrounding regional amenities.
Located at 1045 Sally Ike Rd, the property offers access to major highways and surrounding regional amenities.
Key Highlights
- 5,109‑square‑foot freestanding two‑story office building
- Garage space included
- Ample parking available
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
$78,168
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
6.80%
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%
$1,563,360
$1.6M
Cap Rate 7%
$1,116,686
$1.1M
Cap Rate 9%
$868,533
$868.5K
Market Conditions
NOI Build-Up for 5,109 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
$153.3K $30.00/SF
− Vacancy
−$49.0K −$9.60/SF
EGI
$104.2K $20.40/SF
− OpEx
−$26.1K −$5.10/SF
NOI
$78.2K $15.30/SF
Area
Ocean 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%
$1,563,360
Cap Rate 7%
$1,116,686
Cap Rate 9%
$868,533
Alternative Uses
Best Use
Office B
$1.12M
$977.1K – $1.30M
NOI $78,168 @ 7.0% cap · market cap 6.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.33M
$1.17M – $1.56M
NOI $93,384 @ 7.0% cap · market cap 8.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
96
Businesses Nearby
Explore this area
Business Placement
Demographics for 08724, NJ
41,458
Population
17,799
Households
2.3
Avg Household Size
47
Median Age
36%
College-Educated
96%
High-School Grad
13.8 sq mi
ZIP Area
3,004
Density / Sq Mi
$98,771
Median Household Income
$51,099
Median Earnings
$1,767
Median Rent
$364,700
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 - Freestanding office property with garage space, monument signage, and modern HVAC systems.
Where is this office building located?
The property is located at 1045 Sally Ike Road Brick, NJ.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: 5,109‑square‑foot freestanding two‑story office building; Garage space included; Ample parking available
