Building Details

Year Built 1989

Listing Agency: KELLER WILLIAMS REALTY CENTRAL MONMOUTH m***@kw.com Show Phone

Listed By: MARK J KRUPNICK · License #7852219

Source: Corcoran

Added: Nov 18, 2025 Changed: Aug 8 Last Checked: Jul 24 at 10:54AM

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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 REALTY CENTRAL MONMOUTH

Investment Insights

Based on property information with market context.

Located at 670 N Beers St #2 and # 4, this 2,400 SF commercial space presents an investment opportunity or potential for owner occupancy. Zoned M, the property is suitable for a variety of office uses and can be divided into two separate medical offices or used as one larger office space. The property is located in the Holmdel area, offering a blend of convenience and potential for investors. The property size is 1193 square feet.

Key Highlights

• Prime commercial investment opportunity or owner‑occupant potential.
• Zoned M for a variety of office uses.
• Can be easily divided into 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

$18,253

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

3.65%

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%

$365,060 $365.1K

Cap Rate 7%

$260,757 $260.8K

Cap Rate 9%

$202,811 $202.8K

Market Conditions

NOI Build-Up for 1,193 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

$35.8K $30.00/SF

− Vacancy

−$11.5K −$9.60/SF

EGI

$24.3K $20.40/SF

− OpEx

−$6.1K −$5.10/SF

NOI

$18.3K $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%

$365,060

Cap Rate 7%

$260,757

Cap Rate 9%

$202,811

Alternative Uses

Best Use

Office B

$260.8K

$228.2K – $304.2K (±1% cap)

NOI $18,253 @ 7.0% cap · market cap 3.65%

Second Best

Healthcare Medical

$253.8K

$222.0K – $296.1K (±1% cap)

NOI $17,763 @ 7.0% cap · market cap 3.55%

Theoretical Best

Office A

$311.5K

$272.6K – $363.4K (±1% cap)

NOI $21,806 @ 7.0% cap · market cap 4.36%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Medical Office Space

Location Intelligence

Trade Area within ½ mile

63

Businesses Nearby

Balanced

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

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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Frequently Asked Questions

What type of property is this?

Medical Office Space - 2,400 SF medical office space for sale in Holmdel.

Where is this medical office space located?

The property is located at 670 Beers Street #2 and 4 Holmdel Village, 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: Prime commercial investment opportunity or owner‑occupant potential.; Zoned M for a variety of office uses.; Can be easily divided into two complete medical offices.