Renovated Office
For Sale
$598,000
Pending
365 Broad Street, Red Bank, NJ 07701
Commercial Sale, Red Bank, NJ
Property Size2,634 SF
Lot Size0.02 Acres
Days on Market95
Property Features for 365 Broad Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
Office, Professional
Parking
2
Parking features
Assigned, Parking Lot, Off Street, RV
Directions
Route 520 to Broad Street to entrance off Pickney
Standard status
Pending
APN
39-00116-0000-00030-02-C3014
Size
2,634 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
11538
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
high ceilings
abundant natural light
updated flooring
modern lighting
fresh paint
kitchenette area
private bathrooms
penthouse views
Building Details
Year built
1930
Floors in Building
1
Building materials
Brick
Listing Agency:
Diane Turton, Realtors-Wall
(732) 292-1400
Listed By:
Elizabeth DeFeo
(732) 292-1400
Added: May 27
Changed: Aug 28
Last Checked: Aug 29 at 7:06PM
MLS# 22615580
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 fourth-floor office unit encompasses 2,634 square feet following the combination of two suites. Renovated in 2016, the space includes two private bathrooms, a kitchenette, high ceilings, updated flooring, modern lighting, fresh paint, and abundant natural light. A private elevator opens directly into the suite, while the executive office provides elevated views. Two assigned parking spaces are included.
The property is located at 365 Broad Street in Red Bank, near Route 35 and Newman Springs Road. Access to the Garden State Parkway, NJ Transit trains, and bus routes supports convenient regional connectivity. Medical practices occupy neighboring suites, and the adaptable layout is identified as suitable for professional, healthcare, wellness, legal, and complementary service uses.
The property is located at 365 Broad Street in Red Bank, near Route 35 and Newman Springs Road. Access to the Garden State Parkway, NJ Transit trains, and bus routes supports convenient regional connectivity. Medical practices occupy neighboring suites, and the adaptable layout is identified as suitable for professional, healthcare, wellness, legal, and complementary service uses.
Key Highlights
- 2,634‑square‑foot fourth‑floor office unit created by combining two suites
- Renovated in 2016 with updated flooring, lighting, paint, and kitchenette
- Private elevator provides direct entry into the suite
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
$40,300
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
6.74%
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%
$806,000
$806.0K
Cap Rate 7%
$575,714
$575.7K
Cap Rate 9%
$447,778
$447.8K
Market Conditions
NOI Build-Up for 2,634 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
$79.0K $30.00/SF
− Vacancy
−$25.3K −$9.60/SF
EGI
$53.7K $20.40/SF
− OpEx
−$13.4K −$5.10/SF
NOI
$40.3K $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%
$806,000
Cap Rate 7%
$575,714
Cap Rate 9%
$447,778
Alternative Uses
Best Use
Office B
$575.7K
$503.8K – $671.7K
NOI $40,300 @ 7.0% cap · market cap 6.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$687.8K
$601.8K – $802.4K
NOI $48,145 @ 7.0% cap · market cap 8.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,929
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 units - Flexible professional workspace with private amenities, natural light, and direct elevator access.
Where is this office units located?
The property is located at 365 Broad Street Red Bank, NJ.
What is the asking price?
The asking price for this property is $598,000.
What are key features of this property?
This property features: 2,634‑square‑foot fourth‑floor office unit created by combining two suites; Renovated in 2016 with updated flooring, lighting, paint, and kitchenette; Private elevator provides direct entry into the suite
