Strip Mall For
For Sale
Contact for pricing
1820 Lanes Mill Road, Brick, NJ 08724
For sale strip mall totaling 17,500 sq. ft.
Property Size17,500 SF
Price / SF$417.14
Days on Market134
Property Features for 1820 Lanes Mill Road
General Information
Standard status
Active
Size
17,500 SF
Class
C
Total Parking Spaces
87
Property subtype
Retail
Zoning
RR1
Lease Type
NNN
Net Operating Income
$359,996
Building Details
Tenancy
Multi
Listing Agency:
Keller Williams Monmouth Ocean
Listed By:
Devin Foderaro · License #2439999
Source:
Crexi
Added: Apr 30
Changed: Sep 2
Last Checked: Sep 10 at 7:51AM
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 Monmouth Ocean
Investment Insights
Based on property information with market context.
This for-sale strip mall offers a total size of 17,500 square feet. The property is available for buyers interested in acquiring a retail-oriented commercial asset.
The offering is located at 1820 Lanes Mill Road in Brick Township, NJ 08724. Interested parties can request additional photos and the Offering Memorandum for further details on the property.
The offering is located at 1820 Lanes Mill Road in Brick Township, NJ 08724. Interested parties can request additional photos and the Offering Memorandum for further details on the property.
Key Highlights
- For sale strip mall totaling 17,500 sq. ft.
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
$249,782
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
3.42%
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%
$4,995,640
$5.0M
Cap Rate 7%
$3,568,314
$3.6M
Cap Rate 9%
$2,775,356
$2.8M
Market Conditions
NOI Build-Up for 17,500 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
$378.0K $21.60/SF
− Vacancy
−$21.2K −$1.21/SF
EGI
$356.8K $20.39/SF
− OpEx
−$107.0K −$6.12/SF
NOI
$249.8K $14.27/SF
Area
Ocean 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%
$4,995,640
Cap Rate 7%
$3,568,314
Cap Rate 9%
$2,775,356
Alternative Uses
Best Use
Retail
$3.57M
$3.12M – $4.16M
NOI $249,782 @ 7.0% cap · market cap 3.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.57M
$4.00M – $5.33M
NOI $319,872 @ 7.0% cap · market cap 4.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
225
Businesses Nearby
89k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 84%
Dining 16%
Wawa
Shops & Services
45,443 visits/mo
0.3 miles
Shell
Shops & Services
11,393 visits/mo
0.3 miles
Dunkin' Donuts
Dining
11,324 visits/mo
0.3 miles
7-Eleven
Shops & Services
7,035 visits/mo
0.1 miles
Santander Bank
Shops & Services
4,406 visits/mo
0.1 miles
Demographics for 08724, NJ
41,458
Population
17,799
Households
2.3
Avg Household Size
47
Median Age
36%
College-Educated
96%
High-School Grad
13.8 sq mi
ZIP Area
3,004
Density / Sq Mi
$98,771
Median Household Income
$51,099
Median Earnings
$1,767
Median Rent
$364,700
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
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Frequently Asked Questions
What type of property is this?
Strip mall - For sale strip mall totaling 17,500 sq. ft.
Where is this strip mall located?
The property is located at 1820 Lanes Mill Road Brick, NJ.
What is the asking price?
The asking price for this property is $7,300,000.
What are key features of this property?
This property features: For sale strip mall totaling 17,500 sq. ft.
