Restored Mixed-Use
21 Main Street, Asbury Park, NJ 07712
For Sale
New
$2,500,000
Three occupants span gallery, bike retail, and office uses in a fully leased property.
Property Size7,600 SF
Days on Market7
Property Features for 21 Main Street
General Information
Standard status
Size
Property subtype
Occupancy
Additional Details
Opportunity Zone
Mixed-Use Components
Land Use
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Tenancy
Listing Agency:
Sackman Realty
Listed By:
Patrick Schiavino · License #0454705
(732) 798-8188
Source:
Sackmanrealty
Added: Nov 3
Changed: Nov 7
Last Checked: Nov 8 at 12:42PM
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 Sackman Realty
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Investment Insights
Based on property information with market context.
Built in 1919, this mixed-use building combines retail and office space, with an interior restoration that retains industrial-era architectural character. The property is fully leased to three separate occupants: an art gallery, a bike shop, and an office user.
The applicable zone allows development up to 8 stories and a maximum height of 90 feet. The property is also within an Opportunity Zone and a UEZ Zone.
The applicable zone allows development up to 8 stories and a maximum height of 90 feet. The property is also within an Opportunity Zone and a UEZ Zone.
Key Highlights
- Fully leased to three occupants: an art gallery, bike shop, and office user
- 1919 building with restored industrial‑era architectural character
- Zoning allows up to 8 stories and a maximum height of 90 feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$108,477
Cap Rate
4.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,169,540
$2.2M
Cap Rate 7%
$1,549,671
$1.5M
Cap Rate 9%
$1,205,300
$1.2M
Market Conditions
NOI Build-Up for 7,600 SF
Gross rent
$164.2K $21.60/SF
− Vacancy
−$9.2K −$1.21/SF
EGI
$155.0K $20.39/SF
− OpEx
−$46.5K −$6.12/SF
NOI
$108.5K $14.27/SF
Area
Monmouth 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 Rate 5%
$2,169,540
Cap Rate 7%
$1,549,671
Cap Rate 9%
$1,205,300
Alternative Uses
Best Use
Retail
$1.55M
$1.36M – $1.81M
NOI $108,477 @ 7.0% cap · market cap 4.34%
Second Best
Mixed Use
$1.47M
$1.28M – $1.71M
NOI $102,600 @ 7.0% cap · market cap 4.10%
Theoretical Best
Office A
$1.98M
$1.74M – $2.32M
NOI $138,916 @ 7.0% cap · market cap 5.56%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
293
Businesses Nearby
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Business Placement
Demographics for 07712, NJ
39,397
Population
19,321
Households
2
Avg Household Size
42
Median Age
49%
College-Educated
93%
High-School Grad
12.2 sq mi
ZIP Area
3,229
Density / Sq Mi
$95,691
Median Household Income
$51,924
Median Earnings
$1,496
Median Rent
$578,300
Median Home Value
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Market
Average Price Trend$/SF for Mixed-use properties in Monmouth County, NJ
Properties on Market for Mixed-use properties in Monmouth County
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three occupants span gallery, bike retail, and office uses in a fully leased property.
Where is this mixed-use property located?
The property is located at 21 Main Street Asbury Park, NJ.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Fully leased to three occupants: an art gallery, bike shop, and office user; 1919 building with restored industrial‑era architectural character; Zoning allows up to 8 stories and a maximum height of 90 feet
