Freestanding Retail
For Sale
$1,700,000
1700 Asbury Avenue, Asbury Park, NJ 07712
Commercial Sale, Asbury Park, NJ
Property Size6,600 SF
Lot Size0.26 Acres
Price / SF$257.58
Days on Market47
Property Features for 1700 Asbury Avenue
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
Commercial
Directions
GPS 1700 Asbury Ave, Asbury Park NJ 07712
Standard status
Active
APN
35-00704-0000-00005
Size
6,600 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
18895
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1940
Floors in Building
1
Listing Agency:
Daunno Realty Services
Listed By:
Rudolph Daunno · License #677573
(732) 396-3995
Added: Jul 27
Changed: Sep 4
Last Checked: Sep 11 at 10:06AM
MLS# 22622920
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 freestanding retail building contains 6,600 square feet on a 0.26-acre parcel. Built in 1940, the property is located at 1700 Asbury Avenue in Asbury Park, New Jersey. Public water and public sewer serve the site.
Key Highlights
- 6,600‑square‑foot freestanding retail building
- 0.26‑acre parcel
- Built in 1940
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
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
637
Businesses Nearby
22k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 64%
Dining 28%
Home Improvements & Furnishings 8%
Wawa
Shops & Services
11,847 visits/mo
0.4 miles
Uncle Bill's Pancake House
Dining
6,028 visits/mo
0.5 miles
Wells Fargo
Shops & Services
1,965 visits/mo
0.4 miles
Sherwin-Williams Paint Store
Home Improvements & Furnishings
1,675 visits/mo
0.5 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Standalone retail property with public water and sewer service.
Where is this retail space 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: 6,600‑square‑foot freestanding retail building; 0.26‑acre parcel; Built in 1940
