Auto Shop with On-Site
For Sale
$1,700,000
1700 Asbury Avenue, Asbury Park, NJ 07712
Auto shop property built in 1940 with on-site parking and a gas water heater.
Property Size6,600 SF
Days on Market15
Property Features for 1700 Asbury Avenue
General Information
Standard status
Active
Size
6,600 SF
Zoning
Commercial
Net Operating Income
$2,027
Taxes and HOA fees
Annual Taxes
$18,895
Amenities
Gas Water Heater
On Site
Building Details
Building Size
6,600 SF
Year Built
1940
Stories
1
Listing Agency:
DAUNNO REALTY SERVICES LLC
(732) 396-3995
Listed By:
Rudolph Daunno · License #0677573
(732) 396-3995
Source:
Evrealestate
Added: Jul 27
Changed: Aug 10
Last Checked: Aug 10 at 2:41AM
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 DAUNNO REALTY SERVICES LLC
Investment Insights
Based on property information with market context.
Auto shop property at 1700 Asbury Avenue in Asbury Park, NJ. The building was constructed in 1940 and includes a gas water heater. Parking is available on site, supporting day-to-day customer and service traffic.
For directions, the property is identified by GPS at 1700 Asbury Ave, Asbury Park, NJ 07712 in Monmouth County.
This is a straightforward automotive-use facility with practical site support for operations, including on-site parking and essential building utilities.
For directions, the property is identified by GPS at 1700 Asbury Ave, Asbury Park, NJ 07712 in Monmouth County.
This is a straightforward automotive-use facility with practical site support for operations, including on-site parking and essential building utilities.
Key Highlights
- Auto shop property at 1700 Asbury Avenue, Asbury Park, NJ 07712
- Built in 1940
- On‑site parking
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
$94,204
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
5.54%
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%
$1,884,080
$1.9M
Cap Rate 7%
$1,345,771
$1.3M
Cap Rate 9%
$1,046,711
$1.0M
Market Conditions
NOI Build-Up for 6,600 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
$142.6K $21.60/SF
− Vacancy
−$8.0K −$1.21/SF
EGI
$134.6K $20.39/SF
− OpEx
−$40.4K −$6.12/SF
NOI
$94.2K $14.27/SF
Area
Monmouth County, NJ
Vacancy
5.60%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
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%
$1,884,080
Cap Rate 7%
$1,345,771
Cap Rate 9%
$1,046,711
Alternative Uses
Best Use
Retail
$1.35M
$1.18M – $1.57M
NOI $94,204 @ 7.0% cap · market cap 5.54%
Second Best
Industrial
$903.8K
$790.9K – $1.05M
NOI $63,268 @ 7.0% cap · market cap 3.72%
Theoretical Best
Office A
$1.72M
$1.51M – $2.01M
NOI $120,637 @ 7.0% cap · market cap 7.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,120
Businesses Nearby
23k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 68%
Dining 29%
Home Improvements & Furnishings 3%
Dollar Tree
Shops & Services
7,128 visits/mo
0.5 miles
Dunkin' Donuts
Dining
6,671 visits/mo
0.5 miles
Family Dollar
Shops & Services
5,323 visits/mo
0.4 miles
BP
Shops & Services
3,291 visits/mo
0.5 miles
Ocean Grove Hardware
Home Improvements & Furnishings
764 visits/mo
0.4 miles
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 Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Auto shop - Auto shop property built in 1940 with on-site parking and a gas water heater.
Where is this auto shop located?
The property is located at 1700 Asbury Avenue Asbury Park, NJ.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Auto shop property at 1700 Asbury Avenue, Asbury Park, NJ 07712; Built in 1940; On‑site parking
