Two-Unit Medical Office
New
For Sale
$500,000
670-99 N Beers St Unit 2, Holmdel, NJ 07733
M-zoned commercial space supports separate or combined office configurations.
Property Size2,400 SF
Price / SF$208.33
Days on Market3
Property Features for 670-99 N Beers St Unit 2
General Information
Standard status
Active
Size
2,400 SF
Zoning
M
Additional Details
Office Units
2
Building Details
Year Built
1989
Listing Agency:
KELLER WILLIAMS WEST MONMOUTH
Listed By:
MARK J. KRUPNICK · License #7852219
(732) 691-5653
Source:
Mynewjerseyrealestate
Added: Sep 22
Changed: Sep 23
Last Checked: Sep 24 at 1:18PM
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 KELLER WILLIAMS WEST MONMOUTH
Investment Insights
Based on property information with market context.
This 2,400 SF medical office property contains two units that can function independently or be combined into one larger practice environment. The layout supports conversion into two complete medical offices, providing flexibility for separate occupants or a single user seeking expanded space. M zoning accommodates a variety of office uses, including medical office operations. Built in 1989, the property is located in the Holmdel area and offers a configuration suited to owner occupancy, leasing one unit while using the other, or maintaining separate office suites. Its two-unit arrangement provides multiple ways to organize professional workspace within one commercial property.
Key Highlights
- 2,400 SF medical office property
- Two separate units with combined‑use flexibility
- Can be arranged as two complete medical offices
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
$36,720
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
7.34%
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%
$734,400
$734.4K
Cap Rate 7%
$524,571
$524.6K
Cap Rate 9%
$408,000
$408.0K
Market Conditions
NOI Build-Up for 2,400 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
$72.0K $30.00/SF
− Vacancy
−$23.0K −$9.60/SF
EGI
$49.0K $20.40/SF
− OpEx
−$12.2K −$5.10/SF
NOI
$36.7K $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 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%
$734,400
Cap Rate 7%
$524,571
Cap Rate 9%
$408,000
Alternative Uses
Best Use
Office B
$524.6K
$459.0K – $612.0K
NOI $36,720 @ 7.0% cap · market cap 7.34%
Second Best
Healthcare Medical
$510.5K
$446.7K – $595.6K
NOI $35,735 @ 7.0% cap · market cap 7.15%
Theoretical Best
Office A
$626.7K
$548.4K – $731.1K
NOI $43,868 @ 7.0% cap · market cap 8.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
552
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 07733, NJ
17,266
Population
6,318
Households
2.7
Avg Household Size
46
Median Age
67%
College-Educated
97%
High-School Grad
17.8 sq mi
ZIP Area
970
Density / Sq Mi
$175,559
Median Household Income
$100,004
Median Earnings
$3,501
Median Rent
$814,000
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - M-zoned commercial space supports separate or combined office configurations.
Where is this medical office space located?
The property is located at 670-99 N Beers St Unit 2 Holmdel, NJ.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 2,400 SF medical office property; Two separate units with combined‑use flexibility; Can be arranged as two complete medical offices
