Office Buildings with Three-Structure
For Sale
$1,750,000
2000 State Route 34, Wall Township, NJ 07727
Three-structure office compound with an estimated 30,000–50,000 vehicles per day exposure on State Route 34.
Property Size3,237 SF
Lot Size1.00 Acre
Price / SF$540.62
Days on Market133
Property Features for 2000 State Route 34
General Information
Standard status
Active
Size
3,237 SF
Lot size
1.00 Acre
Site & Location
Traffic Count
50,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Building Details
Buildings
3
Listing Agency:
RE/MAX Central
Listed By:
Michael Sclafani · License #306368
(732) 972-1000
Source:
Exprealty
Added: May 8
Changed: Sep 16
Last Checked: Sep 17 at 12:48AM
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 RE/MAX Central
Investment Insights
Based on property information with market context.
2000 State Route 34 in Wall Township presents a three-structure office compound positioned for high visibility. The property totals approximately 1 acre and includes three separate buildings totaling approximately 3,237 SF. The first building fronts State Route 34 and is a single-story garage/office structure totaling approximately 948 SF, with a 27' x 24' garage area plus office space and a full bathroom. The second structure fronts Allaire Road and is a three-story office building totaling approximately 2,189 SF, designed for multiple offices and workspaces, conference areas, and two bathrooms. The third structure is a fully finished detached office measuring approximately 100 SF with heat and electric, suitable for a private office, security, or additional workspace.
The two main buildings were connected by a small addition, and the property was undergoing a transformation into a modern showroom and office complex after seeking variance approvals for a change of use. Renovations and approvals were paused because ownership outgrew the space. Work already completed includes Phase 1 environmental work with no issues and a clean title, along with a full property cleanup and interior demolition, clearing of trees, brand new windows and doors, a new standing seam metal roof on the three-story building, and a new commercial rubber roof on the garage structure. Rough HVAC and plumbing completion, structural and framing work, new staircase installation, new glass garage doors, and a newly constructed three-level deck with composite decking and aluminum railings were also completed.
The property is estimated to see approximately 30,000–50,000 vehicles per day along Highway 34, with projected yearly traffic exposure reaching approximately 11–18 million vehicles annually. The site also benefits from additional frontage from Allaire Road.
The two main buildings were connected by a small addition, and the property was undergoing a transformation into a modern showroom and office complex after seeking variance approvals for a change of use. Renovations and approvals were paused because ownership outgrew the space. Work already completed includes Phase 1 environmental work with no issues and a clean title, along with a full property cleanup and interior demolition, clearing of trees, brand new windows and doors, a new standing seam metal roof on the three-story building, and a new commercial rubber roof on the garage structure. Rough HVAC and plumbing completion, structural and framing work, new staircase installation, new glass garage doors, and a newly constructed three-level deck with composite decking and aluminum railings were also completed.
The property is estimated to see approximately 30,000–50,000 vehicles per day along Highway 34, with projected yearly traffic exposure reaching approximately 11–18 million vehicles annually. The site also benefits from additional frontage from Allaire Road.
Key Highlights
- Three structures totaling approximately 3,237 SF on approximately 1 acre
- 948 SF single‑story garage/office on State Route 34 with 27' x 24' garage
- 2,189 SF three‑story office building fronting Allaire Road with multiple offices and conference areas
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
$49,526
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
2.83%
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%
$990,520
$990.5K
Cap Rate 7%
$707,514
$707.5K
Cap Rate 9%
$550,289
$550.3K
Market Conditions
NOI Build-Up for 3,237 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
$97.1K $30.00/SF
− Vacancy
−$31.1K −$9.60/SF
EGI
$66.0K $20.40/SF
− OpEx
−$16.5K −$5.10/SF
NOI
$49.5K $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%
$990,520
Cap Rate 7%
$707,514
Cap Rate 9%
$550,289
Alternative Uses
Best Use
Office B
$707.5K
$619.1K – $825.4K
NOI $49,526 @ 7.0% cap · market cap 2.83%
Second Best
Retail
$660.0K
$577.5K – $770.1K
NOI $46,203 @ 7.0% cap · market cap 2.64%
Theoretical Best
Office A
$845.2K
$739.6K – $986.1K
NOI $59,167 @ 7.0% cap · market cap 3.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
50,000 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
241
Businesses Nearby
Explore this area
Business Placement
Demographics for 07727, NJ
7,707
Population
2,951
Households
2.6
Avg Household Size
45
Median Age
49%
College-Educated
97%
High-School Grad
25.5 sq mi
ZIP Area
302
Density / Sq Mi
$131,125
Median Household Income
$52,551
Median Earnings
$1,794
Median Rent
$585,900
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 - Three-structure office compound with an estimated 30,000–50,000 vehicles per day exposure on State Route 34.
Where is this office building located?
The property is located at 2000 State Route 34 Wall Township, NJ.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Three structures totaling approximately 3,237 SF on approximately 1 acre; 948 SF single‑story garage/office on State Route 34 with 27' x 24' garage; 2,189 SF three‑story office building fronting Allaire Road with multiple offices and conference areas
