Nursing Home Property with
For Sale
$3,499,900
184-186 State Hwy34, Holmdel, NJ 07733
Lots and Land, Holmdel Twp., NJ
Property Size9,000 SF
Lot Size15.00 Acres
Price / SF$388.88
Days on Market80
Property Features for 184-186 State Hwy34
General Information
Property type
Land
Property subtype
Other
Directions
Southbound side of Route 34, between Roberts Road and Pleasant Valley Road. Please use GPS.
Standard status
Active
Lot size
15.00 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
16608
Utilities
Water source
Public
Listing Agency:
VRI HOMES
(800) 531-2885
Listed By:
NITA LOEBIS
(732) 264-9511
Added: Jun 16
Changed: Aug 19
Last Checked: Sep 3 at 8:06AM
MLS# 4035176
Copyright © 2026 Garden State MLS, LLC. 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 nursing home property includes a main structure of approximately 9,000 square feet arranged across three floors. The building retains original architectural elements, including marble fireplaces, broad moldings, woodwork, distinctive doors, and a wide wood banister. Its former healthcare configuration included 40 beds, a large kitchen, and a dumbwaiter.
A separate ranch-style residence at the rear contains approximately 2,500 square feet, a full basement, 5 bedrooms, 2.5 baths, and an oversized 2-car garage. Additional improvements include a barn, 2 detached garages, sheds, and other outbuildings. The property encompasses approximately 15 acres, including 13.130 acres deemed farmland, and is served by public water. Located at 184-186 State Hwy34 in Holmdel Twp., NJ.
A separate ranch-style residence at the rear contains approximately 2,500 square feet, a full basement, 5 bedrooms, 2.5 baths, and an oversized 2-car garage. Additional improvements include a barn, 2 detached garages, sheds, and other outbuildings. The property encompasses approximately 15 acres, including 13.130 acres deemed farmland, and is served by public water. Located at 184-186 State Hwy34 in Holmdel Twp., NJ.
Key Highlights
- Approximately 9,000 SF main building across 3 floors with former 40‑bed nursing home configuration
- Original marble fireplaces, wood banister, wide moldings, distinctive doors, and other period details
- Approximately 2,500 SF ranch‑style house with full basement, 5 bedrooms, and 2.5 baths
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
$134,006
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
3.83%
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%
$2,680,120
$2.7M
Cap Rate 7%
$1,914,371
$1.9M
Cap Rate 9%
$1,488,956
$1.5M
Market Conditions
NOI Build-Up for 9,000 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
$237.6K $26.40/SF
− Vacancy
−$14.3K −$1.58/SF
EGI
$223.3K $24.82/SF
− OpEx
−$89.3K −$9.93/SF
NOI
$134.0K $14.89/SF
Area
Monmouth County, NJ
Vacancy
6.00%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
40.00%
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%
$2,680,120
Cap Rate 7%
$1,914,371
Cap Rate 9%
$1,488,956
Alternative Uses
Best Use
Healthcare Medical
$1.91M
$1.68M – $2.23M
NOI $134,006 @ 7.0% cap · market cap 3.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.35M
$2.06M – $2.74M
NOI $164,506 @ 7.0% cap · market cap 4.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
169
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 07733, NJ
17,266
Population
6,318
Households
2.7
Avg Household Size
46
Median Age
67%
College-Educated
97%
High-School Grad
17.8 sq mi
ZIP Area
970
Density / Sq Mi
$175,559
Median Household Income
$100,004
Median Earnings
$3,501
Median Rent
$814,000
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- CareOne at Holmdel — 188 NJ-34, Holmdel, NJ 07733
Frequently Asked Questions
What type of property is this?
Nursing home - Multi-building healthcare property with historic architectural details, residential accommodations, agricultural acreage, and public water service.
Where is this nursing home located?
The property is located at 184-186 State Hwy34 Holmdel, NJ.
What is the asking price?
The asking price for this property is $3,499,900.
What are key features of this property?
This property features: Approximately 9,000 SF main building across 3 floors with former 40‑bed nursing home configuration; Original marble fireplaces, wood banister, wide moldings, distinctive doors, and other period details; Approximately 2,500 SF ranch‑style house with full basement, 5 bedrooms, and 2.5 baths
