Manahawkin Office Building For
For Sale
$1,800,000
Pending
675 E Route 72, Manahawkin, NJ 08050
10,000+ SF office building near Long Beach Island.
Property Size10,398 SF
Lot Size1.74 Acres
Days on Market218
Property Features for 675 E Route 72
General Information
Standard status
Pending
Size
10,398 SF
Lot size
1.74 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$43,867
Amenities
Central air
Corner Lot
Central Air Cooling
Flat Roof
Forced Air Heating
Shingle Roof
Listing Agency:
BERKSHIRE HATHAWAY HOMESERVICES ZACK SHORE REALTORS
(609) 597-6464
Listed By:
CURTIS LEE · License #0569686
Source:
Corcoran
Added: Jan 14
Changed: Aug 8
Last Checked: Jul 23 at 9:40AM
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 BERKSHIRE HATHAWAY HOMESERVICES ZACK SHORE REALTORS
Investment Insights
Based on property information with market context.
Located on Route 72 in Manahawkin, New Jersey, this commercial property is situated approximately 1.8 miles east of the bridge to Long Beach Island. The office building has a size of over 10,000 square feet. The property is configured into four office units of varying sizes. It offers visibility, access, and on-site parking. The location is adjacent to an established office park with professional businesses. The property may suit medical offices, attorneys, accountants, title companies, and other professional services seeking exposure and proximity to Long Beach Island and surrounding communities.
Key Highlights
- Prime commercial location on highly trafficked Route 72, 1.8 miles from Long Beach Island.
- 10,000+ square foot office building with excellent visibility and easy access.
- Ample on‑site 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
$159,089
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
8.84%
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%
$3,181,780
$3.2M
Cap Rate 7%
$2,272,700
$2.3M
Cap Rate 9%
$1,767,656
$1.8M
Market Conditions
NOI Build-Up for 10,398 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
$311.9K $30.00/SF
− Vacancy
−$99.8K −$9.60/SF
EGI
$212.1K $20.40/SF
− OpEx
−$53.0K −$5.10/SF
NOI
$159.1K $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%
$3,181,780
Cap Rate 7%
$2,272,700
Cap Rate 9%
$1,767,656
Alternative Uses
Best Use
Office B
$2.27M
$1.99M – $2.65M
NOI $159,089 @ 7.0% cap · market cap 8.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.72M
$2.38M – $3.17M
NOI $190,059 @ 7.0% cap · market cap 10.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
164
Businesses Nearby
Explore this area
Business Placement
Demographics for 08050, NJ
26,507
Population
14,182
Households
1.9
Avg Household Size
45
Median Age
39%
College-Educated
94%
High-School Grad
30.9 sq mi
ZIP Area
858
Density / Sq Mi
$115,456
Median Household Income
$60,458
Median Earnings
$1,756
Median Rent
$377,100
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 - 10,000+ SF office building near Long Beach Island.
Where is this office building located?
The property is located at 675 E Route 72 Manahawkin, NJ.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Prime commercial location on highly trafficked Route 72, 1.8 miles from Long Beach Island.; 10,000+ square foot office building with excellent visibility and easy access.; Ample on‑site parking.
