Renovated Office
For Sale
$1,650,000
516 Duquesne Boulevard Unit 516, Brick, NJ 08723
Multiple offices, conference rooms, a kitchen, and finished employee locker rooms support varied workplace layouts.
Property Size4,090 SF
Price / SF$403.42
Days on Market232
Property Features for 516 Duquesne Boulevard Unit 516
General Information
Standard status
Active
Size
4,090 SF
Total Parking Spaces
23
Property subtype
General Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
private offices
conference rooms
kitchen area
fully finished basement
employee locker rooms
five separate entrances/exits
Central Air, A/C - Other
3
Vinyl, Other
Parking.
23 Parking Spaces. Off Street, On Site.
Sidewalks.
Building Details
Buildings
1
Building Size
4,090 SF
Listing Agency:
One Real Estate Group, LLC
(732) 663-9898
Listed By:
Chaya Klein · License #1649028
(732) 663-9898
Source:
Xome
Added: Jan 10
Changed: Aug 30
Last Checked: Aug 30 at 1:40PM
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 One Real Estate Group, LLC
Investment Insights
Based on property information with market context.
This 4,090-square-foot office building has been fully renovated and includes multiple private offices, conference rooms, a kitchen area, and a finished basement configured as employee locker rooms. Five separate entrances and exits provide distinct access points for workplace circulation or departmental separation. The property also includes 23 dedicated parking spaces with on-site, off-street parking.
Located at 516 Duquesne Boulevard in Brick Township, New Jersey, the property offers access to the Garden State Parkway and major local roadways. Sidewalks and central air conditioning are also present. The existing configuration is suited to an owner-user seeking a ready-to-occupy office environment.
Located at 516 Duquesne Boulevard in Brick Township, New Jersey, the property offers access to the Garden State Parkway and major local roadways. Sidewalks and central air conditioning are also present. The existing configuration is suited to an owner-user seeking a ready-to-occupy office environment.
Key Highlights
- 4,090‑square‑foot fully renovated office building
- Five separate entrances and exits
- 23 dedicated parking spaces with on‑site, off‑street parking
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
$62,577
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
3.79%
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%
$1,251,540
$1.3M
Cap Rate 7%
$893,957
$894.0K
Cap Rate 9%
$695,300
$695.3K
Market Conditions
NOI Build-Up for 4,090 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
$122.7K $30.00/SF
− Vacancy
−$39.3K −$9.60/SF
EGI
$83.4K $20.40/SF
− OpEx
−$20.9K −$5.10/SF
NOI
$62.6K $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 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%
$1,251,540
Cap Rate 7%
$893,957
Cap Rate 9%
$695,300
Alternative Uses
Best Use
Office B
$894.0K
$782.2K – $1.04M
NOI $62,577 @ 7.0% cap · market cap 3.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.07M
$934.5K – $1.25M
NOI $74,759 @ 7.0% cap · market cap 4.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,170
Businesses Nearby
Explore this area
Business Placement
Demographics for 08723, NJ
31,272
Population
14,075
Households
2.2
Avg Household Size
45
Median Age
30%
College-Educated
95%
High-School Grad
12.0 sq mi
ZIP Area
2,606
Density / Sq Mi
$103,953
Median Household Income
$54,165
Median Earnings
$1,652
Median Rent
$374,400
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 building - Multiple offices, conference rooms, a kitchen, and finished employee locker rooms support varied workplace layouts.
Where is this office building located?
The property is located at 516 Duquesne Boulevard Unit 516 Brick, NJ.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: 4,090‑square‑foot fully renovated office building; Five separate entrances and exits; 23 dedicated parking spaces with on‑site, off‑street parking
