Building Details

Floors in Building 1

Flooring type Vinyl

Building materials Brick

Roof type Flat

Listing Agency: Keller Williams Realty Spring Lake k***@kw.com

Listed By: Susan O'Brien Show Phone

Added: Oct 18 Changed: Oct 20 Last Checked: Oct 20 at 9:06PM

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MLS# 22633122

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Investment Insights

Based on property information with market context.

This 4,500-square-foot office building occupies a 0.78-acre parcel at 44 Princeton Avenue in Brick, New Jersey. The brick structure has central air, fluorescent lighting, vinyl flooring, and a flat roof. Public water and sewer serve the site, with a parking lot and off-street parking available.

The building is fully leased to professionals and small businesses. A rent roll is available upon request.

Key Highlights

• 4,500‑square‑foot office building on a 0.78‑acre parcel
• Fully leased to professionals and small businesses
• Brick construction with central air conditioning

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$68,850

Cap Rate

6.89%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,377,000 $1.4M

Cap Rate 7%

$983,571 $983.6K

Cap Rate 9%

$765,000 $765.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,500 SF

Gross rent

$135.0K $30.00/SF

− Vacancy

−$43.2K −$9.60/SF

EGI

$91.8K $20.40/SF

− OpEx

−$23.0K −$5.10/SF

NOI

$68.9K $15.30/SF

Area

Ocean 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 Rate 5%

$1,377,000

Cap Rate 7%

$983,571

Cap Rate 9%

$765,000

Alternative Uses

Best Use

Office B

$983.6K

$860.6K – $1.15M (±1% cap)

NOI $68,850 @ 7.0% cap · market cap 6.89%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.18M

$1.03M – $1.37M (±1% cap)

NOI $82,253 @ 7.0% cap · market cap 8.23%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Office buildings

Suggested Use

Top Pick Parking Lot & Garage Auto Parts Store (Bike/Boat/Book/etc) Store Hotel & Motel Big Box & Wholesale Store Carpet & Flooring Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

100%

Occupancy

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

1,050

Businesses Nearby

Explore this area Business Placement

Demographics for 08724, NJ

41,458

Population

17,799

Households

2.3

Avg Household Size

47

Median Age

36%

College-Educated

96%

High-School Grad

13.8 sq mi

ZIP Area

3,004

Density / Sq Mi

$98,771

Median Household Income

$51,099

Median Earnings

$1,767

Median Rent

$364,700

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

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Frequently Asked Questions

What type of property is this?

Office building - Brick construction, central air, and off-street parking serve the property’s professional and small-business occupants.

Where is this office building located?

The property is located at 44 Princeton Avenue Brick, NJ.

What is the asking price?

The asking price for this property is $999,000.

What are key features of this property?

This property features: 4,500‑square‑foot office building on a 0.78‑acre parcel; Fully leased to professionals and small businesses; Brick construction with central air conditioning