Updated Medical Office
For Sale
$290,000
14-495 Iron Bridge Rd, Freehold, NJ 07728
Flexible clinical layout with reception, exam suites, private office, staff areas, and dedicated storage.
Property Size1,365 SF
Price / SF$212.45
Days on Market12
Property Features for 14-495 Iron Bridge Rd
General Information
Standard status
Active
Size
1,365 SF
Taxes and HOA fees
Annual Taxes
$5,111
Listing Agency:
Compass New Jersey , LLC
(732) 252-2460
Listed By:
Colleen Meyler · License #8534703
(732) 252-2460
Source:
Exprealty
Added: Jul 29
Changed: Aug 8
Last Checked: Aug 9 at 12:07PM
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 Compass New Jersey , LLC
Investment Insights
Based on property information with market context.
This updated medical office condominium at 14-495 Iron Bridge Rd includes a reception and waiting area, client intake space, checkout window, three exam or office suites with sinks, a private office, staff and storage areas, and a private restroom. An 18' x 9' flex room adds adaptable space for conferences, training, staff use, or collaboration. The property is ready for immediate occupancy and also offers a multi-year lease option.
The professional complex is located one-half mile from CentraState Medical Center and provides 102 total parking spaces, including 6 ADA-accessible spaces. The layout supports medical, wellness, counseling, administrative, and other professional office uses identified in the property information.
The professional complex is located one-half mile from CentraState Medical Center and provides 102 total parking spaces, including 6 ADA-accessible spaces. The layout supports medical, wellness, counseling, administrative, and other professional office uses identified in the property information.
Key Highlights
- Updated 1,365‑square‑foot medical office condominium
- Three exam or office suites, each with a sink
- 18' x 9' flex space for conferences, training, staff use, or collaboration
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
$20,885
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
7.20%
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%
$417,700
$417.7K
Cap Rate 7%
$298,357
$298.4K
Cap Rate 9%
$232,056
$232.1K
Market Conditions
NOI Build-Up for 1,365 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
$41.0K $30.00/SF
− Vacancy
−$13.1K −$9.60/SF
EGI
$27.8K $20.40/SF
− OpEx
−$7.0K −$5.10/SF
NOI
$20.9K $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%
$417,700
Cap Rate 7%
$298,357
Cap Rate 9%
$232,056
Alternative Uses
Best Use
Office B
$298.4K
$261.1K – $348.1K
NOI $20,885 @ 7.0% cap · market cap 7.20%
Second Best
Healthcare Medical
$290.3K
$254.1K – $338.7K
NOI $20,324 @ 7.0% cap · market cap 7.01%
Theoretical Best
Office A
$356.4K
$311.9K – $415.8K
NOI $24,950 @ 7.0% cap · market cap 8.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
5
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
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 Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Flexible clinical layout with reception, exam suites, private office, staff areas, and dedicated storage.
Where is this medical office space located?
The property is located at 14-495 Iron Bridge Rd Freehold, NJ.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: Updated 1,365‑square‑foot medical office condominium; Three exam or office suites, each with a sink; 18' x 9' flex space for conferences, training, staff use, or collaboration
