Flex Property with NNN
For Sale
$5,500,000
3443 State Route 66, Neptune, NJ 07753
Commercial Sale, Neptune Township, NJ
Property Size17,287 SF
Lot Size3.07 Acres
Price / SF$318.16
Days on Market214
Property Features for 3443 State Route 66
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Parking Lot
Directions
GPS
Standard status
Active
APN
35-03701-0000-00009
Size
17,287 SF
Lot size
3.07 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
53829
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Water source
Public
Building Details
Year built
1974
Floors in Building
1
Listing Agency:
Compass New Jersey LLC
Listed By:
Isaac Franco
(732) 936-5248
Added: Feb 18
Changed: Sep 6
Last Checked: Sep 20 at 10:06PM
MLS# 22603785
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.
This 17,287-square-foot flex property occupies 3.07 acres and includes a 10,000-square-foot leased component occupied by Kiddie Academy under a long-term NNN lease extending through 2033. The lease provides for annual rent increases and reimbursement of operating expenses and tax increases over the base year.
The remaining 7,000 square feet is configured as professional office space with private offices, conference rooms, a kitchen, storage, and flexible open areas. The layout is identified as suitable for medical, professional, educational, therapy, or flex/warehouse occupancy. Built in 1974, the property includes forced-air heating, a parking lot, public water, and public sewer.
Located along State Route 66 in Neptune Township, the property is near Walmart and Home Depot and benefits from its position within the Route 66 corridor.
The remaining 7,000 square feet is configured as professional office space with private offices, conference rooms, a kitchen, storage, and flexible open areas. The layout is identified as suitable for medical, professional, educational, therapy, or flex/warehouse occupancy. Built in 1974, the property includes forced-air heating, a parking lot, public water, and public sewer.
Located along State Route 66 in Neptune Township, the property is near Walmart and Home Depot and benefits from its position within the Route 66 corridor.
Key Highlights
- 17,287 SF commercial property on 3.07 acres
- 10,000 SF leased to Kiddie Academy through 2033 under a long‑term NNN lease
- Remaining 7,000 SF includes offices, conference rooms, kitchen, storage, and open area
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
$283,560
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
5.16%
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%
$5,671,200
$5.7M
Cap Rate 7%
$4,050,857
$4.1M
Cap Rate 9%
$3,150,667
$3.2M
Market Conditions
NOI Build-Up for 17,287 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
$562.2K $32.52/SF
− Vacancy
−$125.9K −$7.28/SF
EGI
$436.2K $25.24/SF
− OpEx
−$152.7K −$8.83/SF
NOI
$283.6K $16.40/SF
Area
Monmouth County, NJ
Vacancy
22.40%
Lease Rate
$32.52 /SF/Yr
Expense Ratio
35.00%
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%
$5,671,200
Cap Rate 7%
$4,050,857
Cap Rate 9%
$3,150,667
Alternative Uses
Best Use
Flex RnD
$4.05M
$3.54M – $4.73M
NOI $283,560 @ 7.0% cap · market cap 5.16%
Second Best
Office B
$3.78M
$3.31M – $4.41M
NOI $264,491 @ 7.0% cap · market cap 4.81%
Theoretical Best
Office A
$4.51M
$3.95M – $5.27M
NOI $315,979 @ 7.0% cap · market cap 5.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
327
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 07753, NJ
37,397
Population
16,701
Households
2.2
Avg Household Size
45
Median Age
37%
College-Educated
93%
High-School Grad
16.0 sq mi
ZIP Area
2,337
Density / Sq Mi
$92,824
Median Household Income
$49,953
Median Earnings
$1,740
Median Rent
$390,900
Median Home Value
Check the figures for this property
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?
Flex space - Existing office buildout includes private offices, conference rooms, kitchen, storage, and flexible open workspace.
Where is this flex space located?
The property is located at 3443 State Route 66 Neptune, NJ.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: 17,287 SF commercial property on 3.07 acres; 10,000 SF leased to Kiddie Academy through 2033 under a long‑term NNN lease; Remaining 7,000 SF includes offices, conference rooms, kitchen, storage, and open area
