Renovated Ranch-Style Office
New
For Sale
$369,900
80 Hazlet Avenue #6, Hazlet, NJ 07730
Updated professional space with controlled entry, modern finishes, and a new heating and cooling system.
Property Size970 SF
Price / SF$381.34
Days on Market3
Property Features for 80 Hazlet Avenue #6
General Information
Standard status
Active
Size
970 SF
Property subtype
Commercial
Additional Details
HOA Fee
$300
Office Units
12
Taxes and HOA fees
Annual Taxes
$3,715
Amenities
Central air
Asphalt Roof
Central Air Cooling
Forced Air Heating
Off Street
On Site
Paver Block
Building Details
Year Built
1970
Year Renovated
2024
Construction
ranch
Tenancy
Multi
Listing Agency:
INTERSTATE HOME PROPERTIES
(347) 393-9790
Listed By:
RYAN BROWN · License #10491208949
(718) 370-8800
Source:
Corcoran
Added: Sep 15
Changed: Sep 16
Last Checked: Sep 16 at 3:08PM
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 INTERSTATE HOME PROPERTIES
Investment Insights
Based on property information with market context.
This 970-square-foot, single-level office unit at 80 Hazlet Avenue, Unit 6, was comprehensively renovated in summer 2024. Improvements include vinyl plank flooring, replacement windows, a LENNOX heating and cooling system, a new water heater, updated bathroom finishes, and new electrical outlets throughout. Commercial solid-core wood doors, hollow metal frames, commercial hardware, and access-controlled entry further support professional office use. New shaker-style vinyl siding completes the exterior update.
The property is one of 12 units within a self-governing HOA. The unit's configuration and improvements support office operations, including professional, health, wellness, and medical-related uses identified for the space. The property was originally built in 1970.
The property is one of 12 units within a self-governing HOA. The unit's configuration and improvements support office operations, including professional, health, wellness, and medical-related uses identified for the space. The property was originally built in 1970.
Key Highlights
- 970 SF single‑level office unit
- Comprehensively renovated in summer 2024
- New LENNOX heating and cooling system and water heater
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
$14,841
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
4.01%
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%
$296,820
$296.8K
Cap Rate 7%
$212,014
$212.0K
Cap Rate 9%
$164,900
$164.9K
Market Conditions
NOI Build-Up for 970 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
$29.1K $30.00/SF
− Vacancy
−$9.3K −$9.60/SF
EGI
$19.8K $20.40/SF
− OpEx
−$4.9K −$5.10/SF
NOI
$14.8K $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%
$296,820
Cap Rate 7%
$212,014
Cap Rate 9%
$164,900
Alternative Uses
Best Use
Office B
$212.0K
$185.5K – $247.4K
NOI $14,841 @ 7.0% cap · market cap 4.01%
Second Best
Healthcare Medical
$206.3K
$180.5K – $240.7K
NOI $14,443 @ 7.0% cap · market cap 3.90%
Theoretical Best
Office A
$253.3K
$221.6K – $295.5K
NOI $17,730 @ 7.0% cap · market cap 4.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
12
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,067
Businesses Nearby
Explore this area
Business Placement
Demographics for 07730, NJ
17,263
Population
6,713
Households
2.6
Avg Household Size
44
Median Age
32%
College-Educated
94%
High-School Grad
5.2 sq mi
ZIP Area
3,320
Density / Sq Mi
$122,276
Median Household Income
$62,017
Median Earnings
$1,149
Median Rent
$452,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Office units - Updated professional space with controlled entry, modern finishes, and a new heating and cooling system.
Where is this office units located?
The property is located at 80 Hazlet Avenue #6 Hazlet, NJ.
What is the asking price?
The asking price for this property is $369,900.
What are key features of this property?
This property features: 970 SF single‑level office unit; Comprehensively renovated in summer 2024; New LENNOX heating and cooling system and water heater
