Renovated Victorian Office
For Sale
$1,650,000
286 Broad Street, Red Bank, NJ 07701
Standalone three-level office building with 9 offices, conference room, open work area, and parking for 12 cars.
Property Size3,589 SF
Price / SF$459.74
Days on Market177
Property Features for 286 Broad Street
General Information
Standard status
Active
Size
3,589 SF
Total Parking Spaces
12
Property subtype
Office
Amenities
high ceilings
on-street parking
conference room
kitchen
bathroom with shower
storage
garage
front porch
enclosed porch
natural light
signage
Other, Wood
3
Parking.
12 Parking Spaces. On Site, On Street.
Building Details
Year Built
1885
Year Renovated
2016
Stories
3
Construction
Victorian
Listing Agency:
Benchmark Realty Group LLC
(732) 440-9663
Listed By:
Charles Frank
(732) 440-9663
Source:
Xome
Added: Feb 14
Changed: Aug 7
Last Checked: Aug 10 at 2:52AM
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 Benchmark Realty Group LLC
Investment Insights
Based on property information with market context.
This meticulously maintained, fully renovated three-level Victorian professional office building offers a distinctive interior layout designed for day-to-day work. The building includes 9 offices, high ceilings, abundant natural light, and dedicated first-floor amenities such as a conference room, a large open work area, a large kitchen, and a bathroom with shower. Additional features include a large second-floor bathroom, dry basement storage, a detached 2-car garage, a large front porch, and an additional enclosed porch.
The property also provides parking for 12 cars plus on-street parking, supporting convenient client and staff access.
Construction and improvement details indicate a substantial renovation completed in 2016; please call the office for a complete list of renovations.
The property also provides parking for 12 cars plus on-street parking, supporting convenient client and staff access.
Construction and improvement details indicate a substantial renovation completed in 2016; please call the office for a complete list of renovations.
Key Highlights
- Standalone three‑level Victorian professional office building, built in 1885 and fully renovated
- Office layout includes 9 offices plus 1 conference room and a large open work area on the first floor
- Kitchen, large first‑floor bathroom with shower, and large second‑floor bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$54,912
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.33%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,098,240
$1.1M
Cap Rate 7%
$784,457
$784.5K
Cap Rate 9%
$610,133
$610.1K
Market Conditions
NOI Build-Up for 3,589 SF
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.
Gross rent
$107.7K $30.00/SF
− Vacancy
−$34.5K −$9.60/SF
EGI
$73.2K $20.40/SF
− OpEx
−$18.3K −$5.10/SF
NOI
$54.9K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,098,240
Cap Rate 7%
$784,457
Cap Rate 9%
$610,133
Alternative Uses
Best Use
Office B
$784.5K
$686.4K – $915.2K
NOI $54,912 @ 7.0% cap · market cap 3.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$937.2K
$820.0K – $1.09M
NOI $65,601 @ 7.0% cap · market cap 3.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,790
Businesses Nearby
Explore this area
Business Placement
Demographics for 07701, NJ
24,568
Population
11,082
Households
2.2
Avg Household Size
43
Median Age
53%
College-Educated
93%
High-School Grad
9.2 sq mi
ZIP Area
2,670
Density / Sq Mi
$113,630
Median Household Income
$62,309
Median Earnings
$1,971
Median Rent
$551,500
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Standalone three-level office building with 9 offices, conference room, open work area, and parking for 12 cars.
Where is this office building located?
The property is located at 286 Broad Street Red Bank, NJ.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Standalone three‑level Victorian professional office building, built in 1885 and fully renovated; Office layout includes 9 offices plus 1 conference room and a large open work area on the first floor; Kitchen, large first‑floor bathroom with shower, and large second‑floor bathroom
