Two-Building Office
For Sale
$2,850,000
3321 Doris Avenue, Asbury Park, NJ 07712
COMMERCIAL - Ocean Twp, NJ
Property Size11,000 SF
Lot Size1.14 Acres
Price / SF$259.09
Days on Market96
Property Features for 3321 Doris Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
Office, Professional, Commercial
Parking
50
Parking features
Parking Lot, Open, Off Street
Directions
North Route 35 right onto Doris Avenue
Subdivision
Ocean Twp
Standard status
Active
APN
37-00209-0000-00005
Size
11,000 SF
Lot size
1.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
19647
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1951
Floors in Building
2
Listing Agency:
Monmouth County Homes Realty
(732) 233-5855
Listed By:
Helene Mehani · License #0673399
(732) 233-5855
Added: May 14
Changed: Aug 7
Last Checked: Aug 17 at 7:06AM
MLS# 22614284
Copyright © 2026 More MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Two office buildings are offered on the same lot at 3321 Doris Avenue in Ocean Township. The property totals 11,000 square feet and sits on 1.14 acres. Built in 1951, the buildings are served by forced-air heating and central air conditioning.
Parking is available via an open parking lot with off-street spaces. Utilities include public water and public sewer.
For tenants or buyers looking for an office setup with two separate buildings on one parcel, this configuration can support flexible occupancy planning while keeping operations on a single site.
Parking is available via an open parking lot with off-street spaces. Utilities include public water and public sewer.
For tenants or buyers looking for an office setup with two separate buildings on one parcel, this configuration can support flexible occupancy planning while keeping operations on a single site.
Key Highlights
- Two office buildings on the same lot at 3321 Doris Avenue
- 1.14‑acre lot with 11,000 SF total building area
- Central air plus forced‑air heating
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
$168,300
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
5.91%
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%
$3,366,000
$3.4M
Cap Rate 7%
$2,404,286
$2.4M
Cap Rate 9%
$1,870,000
$1.9M
Market Conditions
NOI Build-Up for 11,000 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
$330.0K $30.00/SF
− Vacancy
−$105.6K −$9.60/SF
EGI
$224.4K $20.40/SF
− OpEx
−$56.1K −$5.10/SF
NOI
$168.3K $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%
$3,366,000
Cap Rate 7%
$2,404,286
Cap Rate 9%
$1,870,000
Alternative Uses
Best Use
Office B
$2.40M
$2.10M – $2.81M
NOI $168,300 @ 7.0% cap · market cap 5.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.87M
$2.51M – $3.35M
NOI $201,062 @ 7.0% cap · market cap 7.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
972
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 Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Two office buildings on one lot with central air, forced-air heat, and off-street parking.
Where is this office building located?
The property is located at 3321 Doris Avenue Asbury Park, NJ.
What is the asking price?
The asking price for this property is $2,850,000.
What are key features of this property?
This property features: Two office buildings on the same lot at 3321 Doris Avenue; 1.14‑acre lot with 11,000 SF total building area; Central air plus forced‑air heating
