Mixed-Use Building with Retail
For Sale
$2,300,000
41 E Main St, Freehold, NJ 07728
Mixed-use building featuring retail spaces and residential apartments.
Property Size9,652 SF
Price / SF$238.29
Days on Market178
Property Features for 41 E Main St
General Information
Standard status
Active
Size
9,652 SF
Listing Agency:
Summit Realty Services Inc.
Listed By:
Salvatore Dellomo · License #8932421
(732) 918-9008
Source:
Thebansalteam
Added: Mar 27
Changed: Sep 17
Last Checked: Sep 20 at 11:49AM
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 Summit Realty Services Inc.
Investment Insights
Based on property information with market context.
This mixed-use building features two 1,200-square-foot retail spaces on the first floor. The second and third floors contain two 2-bedroom apartments and two 1-bedroom apartments. The property is described as an income-producing property. The building has a total size of 9,652 square feet.
Key Highlights
- Great income‑producing property
- Mixed‑use building with retail and residential units
- Two first‑floor retail spaces, each boasting 1,200 SF
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
$130,302
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
5.67%
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%
$2,606,040
$2.6M
Cap Rate 7%
$1,861,457
$1.9M
Cap Rate 9%
$1,447,800
$1.4M
Market Conditions
NOI Build-Up for 9,652 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
$231.6K $24.00/SF
− Vacancy
−$23.2K −$2.40/SF
EGI
$208.5K $21.60/SF
− OpEx
−$78.2K −$8.10/SF
NOI
$130.3K $13.50/SF
Area
Monmouth County, NJ
Vacancy
10.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$2,606,040
Cap Rate 7%
$1,861,457
Cap Rate 9%
$1,447,800
Alternative Uses
Best Use
Mixed Use
$1.86M
$1.63M – $2.17M
NOI $130,302 @ 7.0% cap · market cap 5.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.52M
$2.21M – $2.94M
NOI $176,423 @ 7.0% cap · market cap 7.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,368
Businesses Nearby
Explore this area
Business Placement
Demographics for 07728, NJ
56,444
Population
21,150
Households
2.7
Avg Household Size
43
Median Age
46%
College-Educated
92%
High-School Grad
49.6 sq mi
ZIP Area
1,138
Density / Sq Mi
$107,042
Median Household Income
$56,824
Median Earnings
$1,941
Median Rent
$490,000
Median Home Value
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use building featuring retail spaces and residential apartments.
Where is this mixed-use property located?
The property is located at 41 E Main St Freehold, NJ.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: Great income‑producing property; Mixed‑use building with retail and residential units; Two first‑floor retail spaces, each boasting 1,200 SF
