Building Details

Building Size 4,580 SF

Year Built 1920

Listing Agency: Sackman Realty

Listed By: Timothy A Henry · License #2220528 Show Phone

Source: Sackmanrealty

Added: Aug 25 Changed: Oct 17 Last Checked: Oct 16 at 4:06PM

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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 Sackman Realty

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Investment Insights

Based on property information with market context.

This duplex contains two residential units arranged across two levels. The first-floor residence has 3 bedrooms and 2 full bathrooms, while the second-floor residence includes 2 bedrooms and 2 full bathrooms. The property is zoned RB, and completion is scheduled by September 2026.

The address places the property in Red Bank, near downtown restaurants, shopping, the NJ Transit train station, and the Navesink River waterfront. It is also close to Monmouth County’s walkable downtown corridor.

Key Highlights

• Two‑unit duplex with 3‑bedroom and 2‑bedroom residences
• Each unit includes 2 full bathrooms
• First‑floor unit: 3 bedrooms / 2 full bathrooms

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$76,652

Cap Rate

5.57%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,533,040 $1.5M

Cap Rate 7%

$1,095,029 $1.1M

Cap Rate 9%

$851,689 $851.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,580 SF

Gross rent

$117.1K $25.56/SF

− Vacancy

−$7.6K −$1.65/SF

EGI

$109.5K $23.91/SF

− OpEx

−$32.9K −$7.17/SF

NOI

$76.7K $16.74/SF

Area

Monmouth County, NJ

Vacancy

6.46%

Lease Rate

$25.56 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,533,040

Cap Rate 7%

$1,095,029

Cap Rate 9%

$851,689

Alternative Uses

Best Use

Multifamily LT 5

$1.10M

$958.2K – $1.28M (±1% cap)

NOI $76,652 @ 7.0% cap · market cap 5.57%

Second Best

Apartment 5plus

$1.01M

$880.4K – $1.17M (±1% cap)

NOI $70,431 @ 7.0% cap · market cap 5.12%

Theoretical Best

Office A

$1.20M

$1.05M – $1.40M (±1% cap)

NOI $83,715 @ 7.0% cap · market cap 6.09%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Auto Parts Store Pet Grooming Service (Bike/Boat/Book/etc) Store Butcher Hotel & Motel Home Appliance Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

360

Businesses Nearby

Explore this area Business Placement

Demographics for 07701, NJ

24,568

Population

11,082

Households

2.2

Avg Household Size

43

Median Age

53%

College-Educated

93%

High-School Grad

9.2 sq mi

ZIP Area

2,670

Density / Sq Mi

$113,630

Median Household Income

$62,309

Median Earnings

$1,971

Median Rent

$551,500

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Two-level duplex with a three-bedroom first-floor unit and a two-bedroom second-floor unit.

Where is this duplex located?

The property is located at 145 Chestnut Street Red Bank, NJ.

What is the asking price?

The asking price for this property is $1,375,000.

What are key features of this property?

This property features: Two‑unit duplex with 3‑bedroom and 2‑bedroom residences; Each unit includes 2 full bathrooms; First‑floor unit: 3 bedrooms / 2 full bathrooms