Three-Story Live-Work
For Sale
$799,900
261 State Route 34, Colts Neck, NJ 07722
Mixed-use building with professional rooms, an upper-level apartment, outdoor areas, and flexible parking access.
Property Size2,884 SF
Price / SF$277.36
Days on Market60
Property Features for 261 State Route 34
General Information
Standard status
Active
Size
2,884 SF
Listing Agency:
G & G Agency Inc
Listed By:
Michael Gruosso · License #0566857
(732) 704-4033
Source:
Mynewjerseyrealestate
Added: Aug 17
Changed: Oct 2
Last Checked: Oct 7 at 5:30PM
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 three-story live-work property combines office-oriented improvements with a private residential component. The main levels include a reception area, two exam rooms, a pharmacy room, surgery room, office, and full bathroom, along with a walk-out basement fitted with indoor and outdoor kennels. The upper floor provides a one-bedroom apartment with an additional office or bedroom, kitchen, full bathroom, skylight, and deck access.
The 2,884-square-foot building sits on a landscaped parcel at 261 State Route 34 in Colts Neck, New Jersey. Approximately 18,000 vehicles pass the location during a 24-hour period. The property also includes 8-10 parking spots, a covered front porch or sitting area, and a fenced rear yard. The business and its fixtures are not included.
The 2,884-square-foot building sits on a landscaped parcel at 261 State Route 34 in Colts Neck, New Jersey. Approximately 18,000 vehicles pass the location during a 24-hour period. The property also includes 8-10 parking spots, a covered front porch or sitting area, and a fenced rear yard. The business and its fixtures are not included.
Key Highlights
- 2,884‑square‑foot three‑story live‑work building
- Main levels include reception, two exam rooms, pharmacy room, surgery room, office, and full bathroom
- Upper floor includes a one‑bedroom apartment, kitchen, full bathroom, and deck
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,125
Cap Rate
5.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$882,500
$882.5K
Cap Rate 7%
$630,357
$630.4K
Cap Rate 9%
$490,278
$490.3K
Market Conditions
NOI Build-Up for 2,884 SF
Gross rent
$86.5K $30.00/SF
− Vacancy
−$27.7K −$9.60/SF
EGI
$58.8K $20.40/SF
− OpEx
−$14.7K −$5.10/SF
NOI
$44.1K $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 Rate 5%
$882,500
Cap Rate 7%
$630,357
Cap Rate 9%
$490,278
Alternative Uses
Best Use
Office B
$630.4K
$551.6K – $735.4K
NOI $44,125 @ 7.0% cap · market cap 5.52%
Second Best
Healthcare Medical
$613.5K
$536.8K – $715.7K
NOI $42,942 @ 7.0% cap · market cap 5.37%
Theoretical Best
Office A
$753.1K
$658.9K – $878.6K
NOI $52,715 @ 7.0% cap · market cap 6.59%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
345
Businesses Nearby
Explore this area
Business Placement
Demographics for 07722, NJ
10,041
Population
3,723
Households
2.7
Avg Household Size
44
Median Age
68%
College-Educated
98%
High-School Grad
34.5 sq mi
ZIP Area
291
Density / Sq Mi
$183,015
Median Household Income
$80,794
Median Earnings
$2,895
Median Rent
$871,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Live-work space - Mixed-use building with professional rooms, an upper-level apartment, outdoor areas, and flexible parking access.
Where is this live-work space located?
The property is located at 261 State Route 34 Colts Neck, NJ.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: 2,884‑square‑foot three‑story live‑work building; Main levels include reception, two exam rooms, pharmacy room, surgery room, office, and full bathroom; Upper floor includes a one‑bedroom apartment, kitchen, full bathroom, and deck
