Private First-Floor Office
For Sale
Contact for pricing
Pending
700 Summerfield Avenue, Asbury Park, NJ 07712
Two separately leased spaces include access to shared common areas, a kitchenette, and a restroom.
Property Size2,450 SF
Days on Market51
Property Features for 700 Summerfield Avenue
General Information
Standard status
Pending
Size
2,450 SF
Property subtype
Commercial
Space & Availability
Floor
First Floor
Condition
Move-in Ready
Additional Details
Property Use
Office
Amenities
shared common areas
kitchenette
restroom
Building Details
Year Built
1919
Listing Agency:
Sackman Realty
Listed By:
Justine Gillette · License #2321992
(732) 798-8188
Source:
Defelicerealtygroup
Added: Sep 12
Changed: Oct 31
Last Checked: Oct 31 at 5:33AM
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 Sackman Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Two private offices are offered individually on the building’s first floor, with areas of approximately 196 square feet and 276 square feet. The 2,450-square-foot property was built in 1919 and is described as fully renovated, with modern finishes, upgraded systems, and efficient lighting. Shared amenities include common areas, a kitchenette, and a restroom.
The property is at 700 Summerfield Avenue in Asbury Park, near downtown restaurants, coffee shops, local businesses, and transportation. Occupancy is available immediately. Uses are subject to zoning, licensing, and landlord approval.
The property is at 700 Summerfield Avenue in Asbury Park, near downtown restaurants, coffee shops, local businesses, and transportation. Occupancy is available immediately. Uses are subject to zoning, licensing, and landlord approval.
Key Highlights
- Two first‑floor offices: approximately 196 square feet and 276 square feet, available separately
- 2,450‑square‑foot building constructed in 1919
- Shared common areas, kitchenette, and restroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,485
Suggested Prices Based on Cap Rates
Cap Rate 5%
$749,700
$749.7K
Cap Rate 7%
$535,500
$535.5K
Cap Rate 9%
$416,500
$416.5K
Market Conditions
NOI Build-Up for 2,450 SF
Gross rent
$73.5K $30.00/SF
− Vacancy
−$23.5K −$9.60/SF
EGI
$50.0K $20.40/SF
− OpEx
−$12.5K −$5.10/SF
NOI
$37.5K $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%
$749,700
Cap Rate 7%
$535,500
Cap Rate 9%
$416,500
Alternative Uses
Best Use
Office B
$535.5K
$468.6K – $624.8K
NOI $37,485 @ 7.0% cap · market cap 1,071.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$639.7K
$559.8K – $746.4K
NOI $44,782 @ 7.0% cap · market cap 1,279.49%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,179
Businesses Nearby
Explore this area
Business Placement
Demographics for 07712, NJ
39,397
Population
19,321
Households
2
Avg Household Size
42
Median Age
49%
College-Educated
93%
High-School Grad
12.2 sq mi
ZIP Area
3,229
Density / Sq Mi
$95,691
Median Household Income
$51,924
Median Earnings
$1,496
Median Rent
$578,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - Two separately leased spaces include access to shared common areas, a kitchenette, and a restroom.
Where is this office unit located?
The property is located at 700 Summerfield Avenue Asbury Park, NJ.
What are key features of this property?
This property features: Two first‑floor offices: approximately 196 square feet and 276 square feet, available separately; 2,450‑square‑foot building constructed in 1919; Shared common areas, kitchenette, and restroom
