Listing Agency: Preferred Properties Real Estate g***@ppmoves.com

Listed By: Robert Haspel · License #0563000 Show Phone

Source: Defelicerealtygroup

Added: Aug 8 Changed: Oct 31 Last Checked: Oct 31 at 2:31PM

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Investment Insights

Based on property information with market context.

This second-floor office unit offers approximately 950 square feet of open workspace, a private bathroom, and a separate entrance. Professional business use is supported, and utilities are included except for cable and Wi-Fi.

Assigned parking is available at 601 Newman Springs Road in Lincroft, New Jersey.

Key Highlights

• Approximately 950 square feet of open office space
• Second‑floor unit with a separate entrance and bathroom
• Utilities included except cable/Wi‑Fi

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$14,535

Suggested Prices Based on Cap Rates

Cap Rate 5%

$290,700 $290.7K

Cap Rate 7%

$207,643 $207.6K

Cap Rate 9%

$161,500 $161.5K

What to ask about pricing

Market Conditions

NOI Build-Up for 950 SF

Gross rent

$28.5K $30.00/SF

− Vacancy

−$9.1K −$9.60/SF

EGI

$19.4K $20.40/SF

− OpEx

−$4.8K −$5.10/SF

NOI

$14.5K $15.30/SF

Area

Monmouth 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%

$290,700

Cap Rate 7%

$207,643

Cap Rate 9%

$161,500

Alternative Uses

Best Use

Office B

$207.6K

$181.7K – $242.3K (±1% cap)

NOI $14,535 @ 7.0% cap · market cap 969.00%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$248.1K

$217.1K – $289.4K (±1% cap)

NOI $17,364 @ 7.0% cap · market cap 1,157.60%

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 Spa & Massage Center Auto Repair Shop Nail Salon Skin Care Clinic

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

Location Intelligence

Trade Area within ½ mile

361

Businesses Nearby

Explore this area Business Placement

Demographics for 07738, NJ

7,084

Population

2,445

Households

2.9

Avg Household Size

43

Median Age

62%

College-Educated

99%

High-School Grad

5.6 sq mi

ZIP Area

1,265

Density / Sq Mi

$168,945

Median Household Income

$107,394

Median Earnings

$843

Median Rent

$719,000

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

Frequently Asked Questions

What type of property is this?

Office unit - Open-plan workspace includes a private bathroom, separate entry, and utilities other than cable or Wi-Fi.

Where is this office unit located?

The property is located at 601 Newman Springs Road Lincroft, NJ.

What are key features of this property?

This property features: Approximately 950 square feet of open office space; Second‑floor unit with a separate entrance and bathroom; Utilities included except cable/Wi‑Fi