First-Floor Office Suite with
For Sale
$799,000
Pending
59 Avenue At The Common, Shrewsbury, NJ 07702
COMMERCIAL - Shrewsbury Boro, NJ
Property Size3,500 SF
Days on Market262
Property Features for 59 Avenue At The Common
General Information
Property type
Commercial Sale
Property subtype
Other
Rooms
Basement
Parking features
Parking Lot, Open, On Street
Security features
Security System
Exterior features
Lighting
Directions
Route 35 South from Red Bank, turn left at Traffic light at Avenue at the Commons. Route 35 North from Eatontown, turn right at Traffic light at Avenue at the Commons, building will be on the right.
Standard status
Pending
APN
0000000
Size
3,500 SF
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
conference room
kitchenette
secure storage
elevator
Building Details
Year built
1984
Floors in Building
1
Roof type
Shingle
Listing Agency:
O'Brien Realty, LLC
(732) 229-3532
Listed By:
Kerrin O'Brien
(732) 229-3532
Added: Nov 10, 2025
Changed: Jul 28
Last Checked: Jul 30 at 12:06PM
MLS# 22534036
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 offering provides approximately 3,500 square feet of professional office space as two contiguous first-floor condo units within a well-maintained, professionally managed building. The layout includes 9+ private offices, a spacious reception area, and a dedicated conference room, along with a kitchenette that features rear access. Additional space includes a dry basement with secure storage.
The building is described as having direct access to Route 35 and is located in Shrewsbury Boro, NJ at 59 Avenue At The Common. Public remarks also note it is less than half a mile from the Main Gate of the Fort Monmouth Redevelopment Project, identified as the future home of one of the world’s largest Netflix production studios. The property is equipped with an elevator and has had exterior and entry improvements including new siding and an upgraded front entry porch.
The building is described as having direct access to Route 35 and is located in Shrewsbury Boro, NJ at 59 Avenue At The Common. Public remarks also note it is less than half a mile from the Main Gate of the Fort Monmouth Redevelopment Project, identified as the future home of one of the world’s largest Netflix production studios. The property is equipped with an elevator and has had exterior and entry improvements including new siding and an upgraded front entry porch.
Key Highlights
- Approximately 3,500 SF of professional office space in Shrewsbury with direct access to Route 35
- Two contiguous first‑floor condo units with 9+ private offices plus a spacious reception area
- Includes dedicated conference room and kitchenette with rear access
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $105.0k | $30.00 |
| − Vacancy | −$33.6k | −$9.60 |
| EGI | $71.4k | $20.40 |
| − OpEx | −$17.9k | −$5.10 |
| NOI | $53.6k | $15.30 |
3,500 SF · lease $30.00/SF/yr · vacancy 32.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$765.0K
$669.4K – $892.5K
NOI $53,550 @ 7.0% cap · market cap 6.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$913.9K
$799.7K – $1.07M
NOI $63,974 @ 7.0% cap · market cap 8.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
675
Businesses Nearby
Explore this area
Business Placement
Demographics for 07702, NJ
4,184
Population
1,526
Households
2.7
Avg Household Size
47
Median Age
65%
College-Educated
96%
High-School Grad
2.2 sq mi
ZIP Area
1,902
Density / Sq Mi
$144,500
Median Household Income
$80,694
Median Earnings
$3,300
Median Rent
$735,900
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 - Two contiguous first-floor office condo units with private offices, reception, conference room, kitchenette, and secure storage.
Where is this office units located?
The property is located at 59 Avenue At The Common Shrewsbury, NJ.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Approximately 3,500 SF of professional office space in Shrewsbury with direct access to Route 35; Two contiguous first‑floor condo units with 9+ private offices plus a spacious reception area; Includes dedicated conference room and kitchenette with rear access
