Highway-Visible Flex
For Sale
$2,950,000
1405 State Route 35, Asbury Park, NJ 07712
Commercial Sale, Ocean Twp, NJ
Property Size14,000 SF
Lot Size2.20 Acres
Price / SF$213.55
Days on Market93
Property Features for 1405 State Route 35
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Parking Lot
Directions
:as per GPS
Standard status
Active
APN
37-00197-0000-00008
Size
13,814 SF
Lot size
2.20 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
31987
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Water source
Public
Building Details
Year built
1973
Floors in Building
2
Listing Agency:
Town & Country Real Estate Consultants
(732) 531-1114
Listed By:
Esther Ashkenazi
(732) 462-4242
Added: Jun 5
Changed: Sep 4
Last Checked: Sep 5 at 3:06AM
MLS# 22616939
Copyright © 2026 More MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This approximately 13,814-square-foot flex property was built in 1973 and offers a substantial commercial footprint for a single user or an owner occupying part of the building. The interior is described as adaptable for medical, professional office, showroom, or mixed commercial operations, with build-out flexibility to accommodate business requirements. Forced-air heating serves the building.
The property occupies 2.2 acres at 1405 State Route 35 in Ocean Twp, New Jersey. Highway visibility, convenient access for clients, employees, and deliveries, and an on-site parking lot support a range of commercial operations. Public water and public sewer are available.
The property occupies 2.2 acres at 1405 State Route 35 in Ocean Twp, New Jersey. Highway visibility, convenient access for clients, employees, and deliveries, and an on-site parking lot support a range of commercial operations. Public water and public sewer are available.
Key Highlights
- Approximately 13,814 square feet of commercial building area
- 2.2‑acre property at 1405 State Route 35
- Adaptable space for medical, office, showroom, or mixed commercial operations
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
$226,592
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
7.68%
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%
$4,531,840
$4.5M
Cap Rate 7%
$3,237,029
$3.2M
Cap Rate 9%
$2,517,689
$2.5M
Market Conditions
NOI Build-Up for 13,814 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
$449.2K $32.52/SF
− Vacancy
−$100.6K −$7.28/SF
EGI
$348.6K $25.24/SF
− OpEx
−$122.0K −$8.83/SF
NOI
$226.6K $16.40/SF
Area
Monmouth County, NJ
Vacancy
22.40%
Lease Rate
$32.52 /SF/Yr
Expense Ratio
35.00%
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%
$4,531,840
Cap Rate 7%
$3,237,029
Cap Rate 9%
$2,517,689
Alternative Uses
Best Use
Flex RnD
$3.24M
$2.83M – $3.78M
NOI $226,592 @ 7.0% cap · market cap 7.68%
Second Best
Office B
$3.02M
$2.64M – $3.52M
NOI $211,354 @ 7.0% cap · market cap 7.16%
Theoretical Best
Office A
$3.61M
$3.16M – $4.21M
NOI $252,498 @ 7.0% cap · market cap 8.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
638
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Wegmans Catering — 1104 NJ-35, Ocean Township, NJ 07712
- Falco's Catering — The Renaissance, 1110 NJ-35, Ocean Township, NJ 07712
Frequently Asked Questions
What type of property is this?
Flex space - Commercial building with adaptable interiors, on-site parking, and public water and sewer service.
Where is this flex space located?
The property is located at 1405 State Route 35 Asbury Park, NJ.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: Approximately 13,814 square feet of commercial building area; 2.2‑acre property at 1405 State Route 35; Adaptable space for medical, office, showroom, or mixed commercial operations
