Office Condo With Private
For Sale
$225,000
2 Hartford Dr Unit 104, Tinton Falls, NJ 07701
Three enclosed offices, an in-unit bathroom, and adaptable workspace support a range of professional operations.
Property Size750 SF
Price / SF$300
Days on Market26
Property Features for 2 Hartford Dr Unit 104
General Information
Standard status
Active
Size
750 SF
Listing Agency:
G & G Agency Inc
(732) 704-4033
Listed By:
Michael Gruosso · License #0566857
Source:
Soldbypattie
Added: Aug 5
Changed: Aug 29
Last Checked: Aug 25 at 5:29AM
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 G & G Agency Inc
Investment Insights
Based on property information with market context.
This office condominium provides approximately 750 SF of workspace arranged with three private offices and a dedicated bathroom. The layout also includes flexible area that may be customized for professional operations, making the suite suitable for a range of small-business formats.
The property is located at 2 Hartford Dr Unit 104 in Tinton Falls, with downtown Red Bank and the Fort Monmouth Netflix campus only minutes away. Association coverage supports a low-maintenance ownership structure by addressing property maintenance responsibilities.
The property is located at 2 Hartford Dr Unit 104 in Tinton Falls, with downtown Red Bank and the Fort Monmouth Netflix campus only minutes away. Association coverage supports a low-maintenance ownership structure by addressing property maintenance responsibilities.
Key Highlights
- Approximately 750 SF office condominium
- Three private offices and a private bathroom
- Flexible interior space that can be customized
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
$11,475
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
5.10%
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%
$229,500
$229.5K
Cap Rate 7%
$163,929
$163.9K
Cap Rate 9%
$127,500
$127.5K
Market Conditions
NOI Build-Up for 750 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
$22.5K $30.00/SF
− Vacancy
−$7.2K −$9.60/SF
EGI
$15.3K $20.40/SF
− OpEx
−$3.8K −$5.10/SF
NOI
$11.5K $15.30/SF
Area
Monmouth 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%
$229,500
Cap Rate 7%
$163,929
Cap Rate 9%
$127,500
Alternative Uses
Best Use
Office B
$163.9K
$143.4K – $191.3K
NOI $11,475 @ 7.0% cap · market cap 5.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$195.8K
$171.4K – $228.5K
NOI $13,709 @ 7.0% cap · market cap 6.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,307
Businesses Nearby
Explore this area
Business Placement
Demographics for 07701, NJ
24,568
Population
11,082
Households
2.2
Avg Household Size
43
Median Age
53%
College-Educated
93%
High-School Grad
9.2 sq mi
ZIP Area
2,670
Density / Sq Mi
$113,630
Median Household Income
$62,309
Median Earnings
$1,971
Median Rent
$551,500
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 units - Three enclosed offices, an in-unit bathroom, and adaptable workspace support a range of professional operations.
Where is this office units located?
The property is located at 2 Hartford Dr Unit 104 Tinton Falls, NJ.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Approximately 750 SF office condominium; Three private offices and a private bathroom; Flexible interior space that can be customized
