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    Flex Space Building with Parking Title is generated by Realmo AI

    1405 State Route 35, Asbury Park, NJ 07712

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    For Sale
    $2,950,000

    COMMERCIAL - Ocean Twp, NJ

    Property size:
    13,814 SF
    Lot size:
    2.20 Acres
    Price / SF:
    $213/SF
    Added:
    Jun 5, 2026
    Days on Market:
    1
    Last Refresh:
    Jun 5 at 9:06 pm

    Property Features for 1405 State Route 35

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking features
    Parking Lot
    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

    We can help!

    Listing Contact
    Esther Ashkenazi
    Esther Ashkenazi

    Listing agent Esther Ashkenazi

    Listing office Town & Country Real Estate Consultants 204 Monmouth Road, Eatontown, NJ

    Listing date Jun 5, 2026

    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.

    HighLights

    • Approx. 14,000 SF commercial building built in 1973
    • Forced air heating system
    • Public water and public sewer
    • On‑site parking lot
    • Flexible layout designed for a range of uses including medical, professional offices, showroom, or mixed commercial operations

    Overview

    This property is an approximately 14,000-square-foot commercial building positioned to support flexible, long-term use. The layout is described as efficient and adaptable, with interior flexibility intended to accommodate a wide range of business needs. The building is presented as suitable for either single-user occupancy or partial owner occupancy, with the ability to support different commercial configurations through customized build-out.

    The site includes on-site parking and is described as offering strong highway visibility with easy access for clients, staff, and deliveries. The property is located at 1405 State Route 35 in Ocean Twp, New Jersey, within Monmouth County.

    For tenants, buyers, or operators looking to establish or expand in a space they can own, the building’s versatility aligns with uses identified in the offering, including medical use, professional offices, showrooms, or mixed commercial operations. The combination of flexible interior layout and practical site access can be beneficial for teams that need a property capable of evolving with their operational requirements over time.

    Local Financial Insights For Flex RnD

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $449.2k $32.52
    − Vacancy −$100.6k −$7.28
    EGI $348.6k $25.24
    − OpEx −$122.0k −$8.83
    NOI $226.6k $16.40
    13,814 SF · lease $32.52/SF/yr · vacancy 22.40% · expense 35.00%

    Alternative Uses

    Best Use
    Flex RnD
    $3.24M
    $2.83M – $3.78M (±1% cap)
    NOI $226,592 @ 7.0% cap · market cap 7.68%
    Second Best
    Office B
    $3.02M
    $2.64M – $3.52M (±1% cap)
    NOI $211,354 @ 7.0% cap · market cap 7.16%
    Theoretical Best
    Office A
    $3.61M
    $3.16M – $4.21M (±1% cap)
    NOI $252,498 @ 7.0% cap · market cap 8.56%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Falco's Catering — The Renaissance, 1110 NJ-35, Ocean Township, NJ 07712
    • Wegmans Catering — 1104 NJ-35, Ocean Township, NJ 07712

    Location Insight

    • Map
    • Local Demand
    City
    Asbury Park
    County
    Monmouth
    State
    New Jersey
    Longitude
    -74.037582
    Latitude
    40.245883

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    FAQs

    What type of property is this?
    Flex space - Multi-use commercial building with flexible interior and on-site parking for owner-occupants and mixed operations.
    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: Approx. 14,000 SF commercial building built in 1973; Forced air heating system; Public water and public sewer
    (732) 531-1114
    We can help!
    Listing Contact
    Esther Ashkenazi
    Esther Ashkenazi
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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