Victorian Office
For Sale
$574,900
182 Main Street, Manahawkin, NJ 08050
Updated office property with seven rooms, accessible entry, and storage space in a visible Route 9 commercial setting.
Property Size1,860 SF
Price / SF$309.09
Days on Market12
Property Features for 182 Main Street
General Information
Standard status
Active
Size
1,860 SF
Total Parking Spaces
6
Property subtype
General Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$6,101
Amenities
handicap access
Central Air
3
Wood
Shingle
6 Parking Spaces. On Site.
60
Building Details
Year Built
1865
Construction
Victorian
Listing Agency:
(732) 797-9001
Listed By:
Keller Williams Shore Properties
(732) 797-9001
Source:
Xome
Added: Aug 18
Changed: Aug 28
Last Checked: Aug 28 at 7:18AM
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 Keller Williams Shore Properties
Investment Insights
Based on property information with market context.
This 1,860-square-foot office building dates to 1865 and retains Victorian/Old-World character alongside recent updates to the paint, siding, and windows. The layout includes 7 rooms, high ceilings, and wide doorways. Central air is provided, and a side ramp supports handicap access. A gravel driveway accommodates approximately 4-6 vehicles, while the oversized backyard shed adds separate storage capacity.
The property is located at 182 Main Street in Manahawkin, within Stafford Township, along Route 9. Its position on the route provides visibility and access to major commuting roads. The combination of a multi-room layout, accessible entry, on-site parking, and supplemental storage supports a range of professional office configurations.
The property is located at 182 Main Street in Manahawkin, within Stafford Township, along Route 9. Its position on the route provides visibility and access to major commuting roads. The combination of a multi-room layout, accessible entry, on-site parking, and supplemental storage supports a range of professional office configurations.
Key Highlights
- 1,860 SF office building constructed in 1865
- 7‑room layout with high ceilings and wide doorways
- Recent updates include paint, siding, and windows
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
$28,458
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
4.95%
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%
$569,160
$569.2K
Cap Rate 7%
$406,543
$406.5K
Cap Rate 9%
$316,200
$316.2K
Market Conditions
NOI Build-Up for 1,860 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
$55.8K $30.00/SF
− Vacancy
−$17.9K −$9.60/SF
EGI
$37.9K $20.40/SF
− OpEx
−$9.5K −$5.10/SF
NOI
$28.5K $15.30/SF
Area
Ocean 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%
$569,160
Cap Rate 7%
$406,543
Cap Rate 9%
$316,200
Alternative Uses
Best Use
Office B
$406.5K
$355.7K – $474.3K
NOI $28,458 @ 7.0% cap · market cap 4.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$485.7K
$425.0K – $566.6K
NOI $33,998 @ 7.0% cap · market cap 5.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
164
Businesses Nearby
Explore this area
Business Placement
Demographics for 08050, NJ
26,507
Population
14,182
Households
1.9
Avg Household Size
45
Median Age
39%
College-Educated
94%
High-School Grad
30.9 sq mi
ZIP Area
858
Density / Sq Mi
$115,456
Median Household Income
$60,458
Median Earnings
$1,756
Median Rent
$377,100
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 - Updated office property with seven rooms, accessible entry, and storage space in a visible Route 9 commercial setting.
Where is this office building located?
The property is located at 182 Main Street Manahawkin, NJ.
What is the asking price?
The asking price for this property is $574,900.
What are key features of this property?
This property features: 1,860 SF office building constructed in 1865; 7‑room layout with high ceilings and wide doorways; Recent updates include paint, siding, and windows
