Listing Agency: RE/MAX at Barnegat Bay t***@rbbre.com

Listed By: Alan Seeland · License #9591828 Show Phone

Source: Defelicerealtygroup

Added: Apr 20 Changed: Oct 31 Last Checked: Oct 31 at 3:08AM

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Investment Insights

Based on property information with market context.

This 580-square-foot office unit features a single open workspace. Shared areas in the building have been recently renovated, adding updated common space to the office configuration.

An additional suite across the hall is available to lease alongside this unit, offering a combined monthly lease option.

Key Highlights

• 580‑square‑foot office unit with an open workspace
• Common areas recently renovated
• Can be leased with the available suite across the hall

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$8,874

Suggested Prices Based on Cap Rates

Cap Rate 5%

$177,480 $177.5K

Cap Rate 7%

$126,771 $126.8K

Cap Rate 9%

$98,600 $98.6K

What to ask about pricing

Market Conditions

NOI Build-Up for 580 SF

Gross rent

$17.4K $30.00/SF

− Vacancy

−$5.6K −$9.60/SF

EGI

$11.8K $20.40/SF

− OpEx

−$3.0K −$5.10/SF

NOI

$8.9K $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%

$177,480

Cap Rate 7%

$126,771

Cap Rate 9%

$98,600

Alternative Uses

Best Use

Office B

$126.8K

$110.9K – $147.9K (±1% cap)

NOI $8,874 @ 7.0% cap · market cap 1,145.03%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$151.4K

$132.5K – $176.7K (±1% cap)

NOI $10,601 @ 7.0% cap · market cap 1,367.87%

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

Property Analytics

Current Use

Office Units

Suggested Use

Top Pick Law Firm Real Estate Agency Dental Office Hair Salon HVAC Service Parking Lot & Garage

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

1

Office units

Location Intelligence

Trade Area within ½ mile

401

Businesses Nearby

Explore this area Business Placement

Demographics for 08734, NJ

7,702

Population

3,028

Households

2.5

Avg Household Size

44

Median Age

35%

College-Educated

92%

High-School Grad

5.1 sq mi

ZIP Area

1,510

Density / Sq Mi

$121,033

Median Household Income

$52,534

Median Earnings

$1,504

Median Rent

$387,300

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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1,000 SF

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29 South Street, Lanoka Harbor, NJ 08734

$549,900

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Frequently Asked Questions

What type of property is this?

Office unit - A compact office layout is complemented by recently updated shared areas.

Where is this office unit located?

The property is located at 500 N Us Highway 9 Street #2 Lanoka Harbor, NJ.

What are key features of this property?

This property features: 580‑square‑foot office unit with an open workspace; Common areas recently renovated; Can be leased with the available suite across the hall