Building Details

Building Size 1,616 SF

Year Built 1997

Buildings 1

Abandoned No

Listing Agency: Brothers Commercial Brokerage, Inc

Listed By: Daniel Lynch · License #35789 Show Phone

Source: Sackmanrealty

Added: Oct 21 Changed: Oct 25 Last Checked: Oct 24 at 10:09PM

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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 Brothers Commercial Brokerage, Inc

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Investment Insights

Based on property information with market context.

At 274 Main Street in Keansburg, this 1,616-SF office building was built in 1997 and occupies an 8,232-SF lot with parking. The interior has been renovated, and the roof is newer. The property was previously used as a law office.

The building contains two units with separate gas and electric service. The upper unit is reached through an entrance on the side of the building. Residential use of the second floor may be considered subject to municipal approvals.

Key Highlights

• 1,616‑SF office building on an 8,232‑SF lot
• Two units with separate gas and electric service
• Upper level has a separate entrance on the side of the building

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$24,725

Cap Rate

5.51%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$494,500 $494.5K

Cap Rate 7%

$353,214 $353.2K

Cap Rate 9%

$274,722 $274.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,616 SF

Gross rent

$48.5K $30.00/SF

− Vacancy

−$15.5K −$9.60/SF

EGI

$33.0K $20.40/SF

− OpEx

−$8.2K −$5.10/SF

NOI

$24.7K $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%

$494,500

Cap Rate 7%

$353,214

Cap Rate 9%

$274,722

Alternative Uses

Best Use

Office B

$353.2K

$309.1K – $412.1K (±1% cap)

NOI $24,725 @ 7.0% cap · market cap 5.51%

Second Best

Mixed Use

$311.7K

$272.7K – $363.6K (±1% cap)

NOI $21,816 @ 7.0% cap · market cap 4.86%

Theoretical Best

Office A

$422.0K

$369.2K – $492.3K (±1% cap)

NOI $29,538 @ 7.0% cap · market cap 6.58%

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

Office buildings

Suggested Use

Top Pick Real Estate Agency Law Firm Dental Office Hair Salon Spa & Massage Center Nail Salon

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

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

510

Businesses Nearby

Explore this area Business Placement

Demographics for 07734, NJ

12,772

Population

5,349

Households

2.4

Avg Household Size

39

Median Age

22%

College-Educated

89%

High-School Grad

1.7 sq mi

ZIP Area

7,513

Density / Sq Mi

$89,073

Median Household Income

$41,228

Median Earnings

$1,638

Median Rent

$310,000

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

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Frequently Asked Questions

What type of property is this?

Office building - Two units have separate gas and electric service, and the upper level has its own exterior entrance.

Where is this office building located?

The property is located at 274 Main Street Keansburg, NJ.

What is the asking price?

The asking price for this property is $449,000.

What are key features of this property?

This property features: 1,616‑SF office building on an 8,232‑SF lot; Two units with separate gas and electric service; Upper level has a separate entrance on the side of the building