Luxury Condo Near the
For Sale
$1,275,000
300 Cookman Avenue #326 Asbury, Asbury Park, NJ 07712
Well-maintained condo with ocean views, chef's kitchen, and parking.
Property Size2,463 SF
Price / SF$517.66
Days on Market380
Property Features for 300 Cookman Avenue #326 Asbury
General Information
Standard status
Active
Size
2,463 SF
Property subtype
Condominium
Amenities
Cable Ready
Ceiling Fan(s)
Central Air
Zoned
Forced Air
Self Cleaning Oven
Dishwasher
Dryer
Gas Range/Oven
Microwave
Refrigerator
Range
Washer
Deck, Patio, Underground Utilities, Cable Connected, Electricity Connected, Natural Gas Connected, Asphalt
Building Details
Building Size
2,463 SF
Year Built
2007
Stories
2
Listing Agency:
COLDWELL BANKER REALTY
(202) 731-3142
Listed By:
COLDWELL BANKER REALTY
(908) 233-5555
Source:
Kw
Added: Aug 15, 2025
Changed: Aug 8
Last Checked: May 19 at 9:24PM
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 COLDWELL BANKER REALTY
Investment Insights
Based on property information with market context.
This luxury condo, located two blocks from the ocean, features crown molding and 9-foot ceilings, offering views of the ocean, Wesley Lake, and the Ocean Grove auditorium. This two-story unit is accessible via elevators to the 3rd floor, which includes a living room, dining area, and a chef's kitchen equipped with stainless steel appliances, granite counters, and a 5-burner stove. A den and closet space are also located on this floor. The 4th floor features a master bedroom with a full bath and walk-in closet, two additional bedrooms, and a laundry room. A sitting room with a wet bar and sliders leads to an oversized deck with ocean and river views. The property includes two garage parking spots and a lockable storage bin on the 4th floor. Additional features include a tankless water heater and central A/C. Building amenities include a gym and a park-like outdoor area. The property is located in Asbury Park, NJ.
Key Highlights
- Ocean, lake, and landmark views from this luxury condo just two blocks from the ocean.
- Two‑story unit with elevator access, two garage parking spots, and a storage bin.
- Chef's kitchen with stainless steel appliances and granite counters.
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
$37,876
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
2.97%
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%
$757,520
$757.5K
Cap Rate 7%
$541,086
$541.1K
Cap Rate 9%
$420,844
$420.8K
Market Conditions
NOI Build-Up for 2,463 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
$73.9K $30.00/SF
− Vacancy
−$5.0K −$2.04/SF
EGI
$68.9K $27.96/SF
− OpEx
−$31.0K −$12.58/SF
NOI
$37.9K $15.38/SF
Area
Monmouth County, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
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%
$757,520
Cap Rate 7%
$541,086
Cap Rate 9%
$420,844
Alternative Uses
Best Use
Apartment 5plus
$541.1K
$473.5K – $631.3K
NOI $37,876 @ 7.0% cap · market cap 2.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$643.1K
$562.8K – $750.3K
NOI $45,020 @ 7.0% cap · market cap 3.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
293
Businesses Nearby
Explore this area
Business Placement
Demographics for 07712, NJ
39,397
Population
19,321
Households
2
Avg Household Size
42
Median Age
49%
College-Educated
93%
High-School Grad
12.2 sq mi
ZIP Area
3,229
Density / Sq Mi
$95,691
Median Household Income
$51,924
Median Earnings
$1,496
Median Rent
$578,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained condo with ocean views, chef's kitchen, and parking.
Where is this apartment building located?
The property is located at 300 Cookman Avenue #326 Asbury Asbury Park, NJ.
What is the asking price?
The asking price for this property is $1,275,000.
What are key features of this property?
This property features: Ocean, lake, and landmark views from this luxury condo just two blocks from the ocean.; Two‑story unit with elevator access, two garage parking spots, and a storage bin.; Chef's kitchen with stainless steel appliances and granite counters.
