Building Details

Year Built 1865

Construction Victorian

Listing Agency: Keller Williams Shore Properties

Listed By: David Lazaro · License #1970165 Show Phone

Source: Obrienrealtyllc

Added: Aug 24 Changed: Sep 12 Last Checked: Oct 6 at 12:30AM

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Investment Insights

Based on property information with market context.

This 1,860-square-foot office building dates to 1865 and retains Victorian/Old-World character alongside recent updates to the paint, siding, and windows. The layout includes 7 rooms, high ceilings, and wide doorways. Central air is provided, and a side ramp supports handicap access. A gravel driveway accommodates approximately 4-6 vehicles, while the oversized backyard shed adds separate storage capacity.

The property is located at 182 Main Street in Manahawkin, within Stafford Township, along Route 9. Its position on the route provides visibility and access to major commuting roads. The combination of a multi-room layout, accessible entry, on-site parking, and supplemental storage supports a range of professional office configurations.

Key Highlights

• 1,860 SF office building constructed in 1865
• 7‑room layout with high ceilings and wide doorways
• Recent updates include paint, siding, and windows

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$28,458

Cap Rate

4.95%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$569,160 $569.2K

Cap Rate 7%

$406,543 $406.5K

Cap Rate 9%

$316,200 $316.2K

Market Conditions

NOI Build-Up for 1,860 SF

Gross rent

$55.8K $30.00/SF

− Vacancy

−$17.9K −$9.60/SF

EGI

$37.9K $20.40/SF

− OpEx

−$9.5K −$5.10/SF

NOI

$28.5K $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 Rate 5%

$569,160

Cap Rate 7%

$406,543

Cap Rate 9%

$316,200

Alternative Uses

Best Use

Office B

$406.5K

$355.7K – $474.3K (±1% cap)

NOI $28,458 @ 7.0% cap · market cap 4.95%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$485.7K

$425.0K – $566.6K (±1% cap)

NOI $33,998 @ 7.0% cap · market cap 5.91%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Office buildings

Suggested Use

Top Pick Restaurant Real Estate Agency Building Supply Law Firm Dental Office Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

164

Businesses Nearby

Explore this area Business Placement

Demographics for 08050, NJ

26,507

Population

14,182

Households

1.9

Avg Household Size

45

Median Age

39%

College-Educated

94%

High-School Grad

30.9 sq mi

ZIP Area

858

Density / Sq Mi

$115,456

Median Household Income

$60,458

Median Earnings

$1,756

Median Rent

$377,100

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this office buildings located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Office building - Updated office property with seven rooms, accessible entry, and storage space in a visible Route 9 commercial setting.

Where is this office building located?

The property is located at 182 N Main St Manahawkin, NJ.

What is the asking price?

The asking price for this property is $574,900.

What are key features of this property?

This property features: 1,860 SF office building constructed in 1865; 7‑room layout with high ceilings and wide doorways; Recent updates include paint, siding, and windows