228 State Route 34 Unit 228 Matawan, NJ 07747
228 State Route 34 Unit 228, Matawan, NJ, 07747
$2,200,000
For Sale
$2,200,000
Office buildings
Property Size10,000 SF
Price / SF$220
Days on Market314
Property Features for 228 State Route 34 Unit 228
General Information
- Standard status
- Active
- Size
- 10,000 SF
- Property subtype
- General Commercial
Building Details
- Year Built
- 1990
Listing agency
VRI Homes
(732) 264-9593
Listed by
B.K. Kromer · License #8635998
(732) 264-9593
Source
Xome
Added: Sep 11, 2025 Updated: Jul 21 at 12:05PM Checked: Jul 21 at 12:05PM
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 VRI Homes
Investment Insights
Based on property information with market context.
Key Highlights
- Approx. 10,000 SF commercial building built in 1990 with a full basement
- Fully leased with 6 established tenants on active leases
- Parking for 50 vehicles with open, lighted, on‑site parking
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $300.0k | $30.00 |
| − Vacancy | −$96.0k | −$9.60 |
| EGI | $204.0k | $20.40 |
| − OpEx | −$51.0k | −$5.10 |
| NOI | $153.0k | $15.30 |
10,000 SF · lease $30.00/SF/yr · vacancy 32.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.19M
$1.91M – $2.55M
NOI $153,000 @ 7.0% cap · market cap 6.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.61M
$2.28M – $3.05M
NOI $182,784 @ 7.0% cap · market cap 8.31%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Office buildings
Similar For Sale Nearby
FAQs
Where is this office building located?
The property is located at 228 State Route 34 Unit 228 Matawan, NJ.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Approx. 10,000 SF commercial building built in 1990 with a full basement; Fully leased with 6 established tenants on active leases; Parking for 50 vehicles with open, lighted, on‑site parking
