Ground-Floor Medical Office
For Sale
Contact for pricing
Pending
804 Park Avenue, Asbury Park, NJ 07712
Medical office layout with reception, four offices, basement storage, and two entrances.
Property Size1,028 SF
Days on Market540
Property Features for 804 Park Avenue
General Information
Standard status
Pending
Size
1,028 SF
Property subtype
Special Purpose, Land
Additional Details
Floor
Ground Floor
Public Transit
Yes
Listing Agency:
Century 21 Solid Gold Realty North Oakhurst
Listed By:
Barry Kantrowitz · License #NJ
Source:
Crexi
Added: Mar 10, 2025
Changed: Aug 30
Last Checked: Aug 30 at 5:26AM
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 Century 21 Solid Gold Realty North Oakhurst
Investment Insights
Based on property information with market context.
Ground-floor medical office space arranged with a reception area, four private offices, and basement storage. Two entrances provide separate points of access to the suite.
The property is located near public transportation, banking services, and multiple eateries, supporting convenient access for staff and visitors. The suite may also accommodate general office use.
The property is located near public transportation, banking services, and multiple eateries, supporting convenient access for staff and visitors. The suite may also accommodate general office use.
Key Highlights
- Ground‑floor medical office space with two entrances
- Reception area plus four offices
- Basement storage included
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
$15,728
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
8.07%
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%
$314,560
$314.6K
Cap Rate 7%
$224,686
$224.7K
Cap Rate 9%
$174,756
$174.8K
Market Conditions
NOI Build-Up for 1,028 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
$30.8K $30.00/SF
− Vacancy
−$9.9K −$9.60/SF
EGI
$21.0K $20.40/SF
− OpEx
−$5.2K −$5.10/SF
NOI
$15.7K $15.30/SF
Area
Monmouth 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%
$314,560
Cap Rate 7%
$224,686
Cap Rate 9%
$174,756
Alternative Uses
Best Use
Office B
$224.7K
$196.6K – $262.1K
NOI $15,728 @ 7.0% cap · market cap 8.07%
Second Best
Healthcare Medical
$218.7K
$191.3K – $255.1K
NOI $15,307 @ 7.0% cap · market cap 7.85%
Theoretical Best
Office A
$268.4K
$234.9K – $313.2K
NOI $18,790 @ 7.0% cap · market cap 9.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
965
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 07712, NJ
39,397
Population
19,321
Households
2
Avg Household Size
42
Median Age
49%
College-Educated
93%
High-School Grad
12.2 sq mi
ZIP Area
3,229
Density / Sq Mi
$95,691
Median Household Income
$51,924
Median Earnings
$1,496
Median Rent
$578,300
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?
Medical Office Space - Medical office layout with reception, four offices, basement storage, and two entrances.
Where is this medical office space located?
The property is located at 804 Park Avenue Asbury Park, NJ.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: Ground‑floor medical office space with two entrances; Reception area plus four offices; Basement storage included
