Building Details

Year built 1950

Floors in Building 1

Roof type Shingle

Listing Agency: Crossroads Realty, Inc.

Listed By: Lori A Woytanowski Show Phone

Added: Apr 27 Changed: Oct 28 Last Checked: Oct 28 at 3:06PM

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MLS# 22611814

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Investment Insights

Based on property information with market context.

This 792-square-foot medical office space at 213 Lacey Road includes a reception area and a room configured for use as either a conference room or private office. Laminate flooring and a recently renovated bathroom are among the interior features. The property was built in 1950 and is offered in its current condition.

The 0.11-acre property has a parking lot, forced-air heat, public water, and public sewer. Any proposed use requires approval from Lacey Township; buyers are responsible for their own due diligence.

Key Highlights

• 792‑square‑foot medical office space
• 0.11‑acre property with a parking lot
• Reception area and a room suitable for a conference room or private office

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$12,118

Cap Rate

4.19%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$242,360 $242.4K

Cap Rate 7%

$173,114 $173.1K

Cap Rate 9%

$134,644 $134.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 792 SF

Gross rent

$23.8K $30.00/SF

− Vacancy

−$7.6K −$9.60/SF

EGI

$16.2K $20.40/SF

− OpEx

−$4.0K −$5.10/SF

NOI

$12.1K $15.30/SF

Area

Ocean 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 Rate 5%

$242,360

Cap Rate 7%

$173,114

Cap Rate 9%

$134,644

Alternative Uses

Best Use

Office B

$173.1K

$151.5K – $202.0K (±1% cap)

NOI $12,118 @ 7.0% cap · market cap 4.19%

Second Best

Healthcare Medical

$168.5K

$147.4K – $196.6K (±1% cap)

NOI $11,793 @ 7.0% cap · market cap 4.08%

Theoretical Best

Office A

$206.8K

$181.0K – $241.3K (±1% cap)

NOI $14,476 @ 7.0% cap · market cap 5.01%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Medical Office Space

Suggested Use

Top Pick Bakery Auto Parts Store Cafe & Coffee Shop Locksmith (Bike/Boat/Book/etc) Store Veterinary Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

582

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 08731, NJ

20,953

Population

9,663

Households

2.2

Avg Household Size

45

Median Age

32%

College-Educated

94%

High-School Grad

78.1 sq mi

ZIP Area

268

Density / Sq Mi

$93,267

Median Household Income

$45,345

Median Earnings

$2,080

Median Rent

$360,000

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Similar For Sale Nearby

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Multi-Level Professional Office Building

929 Lacey Road, Forked River, NJ 08731

$475,000

2,144 SF

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Well-Appointed Professional Office Space

929 Lacey Rd, Forked River, NJ 08731

$499,900

2,144 SF

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Three-Unit Multifamily Property

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Similar Off Market Nearby

• Bayberry Veterinary Hospital — 127 S Main St, Forked River, NJ 08731

Frequently Asked Questions

What type of property is this?

Medical Office Space - Reception space, a conference room or private office, and a renovated bathroom support a compact professional layout.

Where is this medical office space located?

The property is located at 213 Lacey Road Forked River, NJ.

What is the asking price?

The asking price for this property is $289,000.

What are key features of this property?

This property features: 792‑square‑foot medical office space; 0.11‑acre property with a parking lot; Reception area and a room suitable for a conference room or private office