Commercial Building with On-Site
For Sale
$2,950,000
1405 State Route 35, Asbury Park, NJ 07712
Approximately 14,000 sq ft commercial building with flexible interior layout and on-site parking, positioned for strong highway visibility.
Property Size13,814 SF
Price / SF$213.55
Days on Market175
Property Features for 1405 State Route 35
General Information
Standard status
Active
Size
13,814 SF
Property subtype
Commercial
Building Details
Year Built
1973
Listing Agency:
Town & Country Real Estate Consultants
Listed By:
Esther Ashkenazi
(833) 740-1234
Source:
Actionplusrealty
Added: Mar 11
Changed: Aug 31
Last Checked: Aug 31 at 7:38PM
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 Town & Country Real Estate Consultants
Investment Insights
Based on property information with market context.
Located at 1405 State Route 35, Ocean Twp, NJ 07712, this approximately 14,000 sq ft commercial building offers a flexible interior designed to support long-term growth. The layout is described as efficient and capable of accommodating a wide range of uses, including medical, professional offices, showroom, or mixed commercial operations. The building is also presented as suitable for either single-user occupancy or partial owner occupancy, with flexibility intended to allow for build-out to fit a specific business need.
The property is positioned for strong highway visibility and easy access for clients, staff, and deliveries, and it includes on-site parking. This combination of functional interior space and convenient access makes the building well-suited for an owner-occupant seeking to establish or expand operations in a property they can control directly.
The property is positioned for strong highway visibility and easy access for clients, staff, and deliveries, and it includes on-site parking. This combination of functional interior space and convenient access makes the building well-suited for an owner-occupant seeking to establish or expand operations in a property they can control directly.
Key Highlights
- Approximately 14,000 SF commercial building with a flexible interior layout for multiple business uses
- Year built: 1973 commercial building designed for flexible long‑term growth
- Can accommodate a wide range of uses including medical, professional offices, 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
$211,354
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
7.16%
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%
$4,227,080
$4.2M
Cap Rate 7%
$3,019,343
$3.0M
Cap Rate 9%
$2,348,378
$2.3M
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
$414.4K $30.00/SF
− Vacancy
−$132.6K −$9.60/SF
EGI
$281.8K $20.40/SF
− OpEx
−$70.5K −$5.10/SF
NOI
$211.4K $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%
$4,227,080
Cap Rate 7%
$3,019,343
Cap Rate 9%
$2,348,378
Alternative Uses
Best Use
Office B
$3.02M
$2.64M – $3.52M
NOI $211,354 @ 7.0% cap · market cap 7.16%
Second Best
Healthcare Medical
$2.94M
$2.57M – $3.43M
NOI $205,685 @ 7.0% cap · market cap 6.97%
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
806
Businesses Nearby
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?
Office building - Approximately 14,000 sq ft commercial building with flexible interior layout and on-site parking, positioned for strong highway visibility.
Where is this office building 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 14,000 SF commercial building with a flexible interior layout for multiple business uses; Year built: 1973 commercial building designed for flexible long‑term growth; Can accommodate a wide range of uses including medical, professional offices, showroom, or mixed commercial operations
