Two-Office Professional
For Sale
$999,950
804 The Plaza Unit 1, Sea Girt, NJ 08750
First-floor commercial condominium with updated flooring, an open layout, private offices, bathroom, and on-site parking.
Property Size2,000 SF
Price / SF$499.98
Days on Market8
Property Features for 804 The Plaza Unit 1
General Information
Standard status
Active
Size
2,000 SF
Additional Details
Floor
1
Office Units
2
Listing Agency:
Ward Wight Sotheby's International Realty
(732) 449-3322
Listed By:
Keith W Kernan · License #0560338
Source:
Goldstandardrealty
Added: Aug 23
Changed: Aug 29
Last Checked: Aug 25 at 5:47AM
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 Ward Wight Sotheby's International Realty
Investment Insights
Based on property information with market context.
Located at 804 The Plaza Unit 1 in Sea Girt, this first-floor office condominium combines two deeded units into approximately 2,000 square feet of professional workspace. The layout includes an open work area, two private offices, a bathroom, and recently updated flooring.
The units are deeded individually and may be separated, with each offering approximately 1,000 square feet. On-site parking is included, and the property is suited to professional general office use.
The units are deeded individually and may be separated, with each offering approximately 1,000 square feet. On-site parking is included, and the property is suited to professional general office use.
Key Highlights
- Approximately 2,000 square feet across two combined office condo units
- First‑floor layout with an open workspace and two private offices
- Recently updated flooring and one bathroom
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
$30,600
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
3.06%
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%
$612,000
$612.0K
Cap Rate 7%
$437,143
$437.1K
Cap Rate 9%
$340,000
$340.0K
Market Conditions
NOI Build-Up for 2,000 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
$60.0K $30.00/SF
− Vacancy
−$19.2K −$9.60/SF
EGI
$40.8K $20.40/SF
− OpEx
−$10.2K −$5.10/SF
NOI
$30.6K $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%
$612,000
Cap Rate 7%
$437,143
Cap Rate 9%
$340,000
Alternative Uses
Best Use
Office B
$437.1K
$382.5K – $510.0K
NOI $30,600 @ 7.0% cap · market cap 3.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$522.2K
$457.0K – $609.3K
NOI $36,557 @ 7.0% cap · market cap 3.66%
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
686
Businesses Nearby
Explore this area
Business Placement
Demographics for 08750, NJ
3,505
Population
2,032
Households
1.7
Avg Household Size
55
Median Age
71%
College-Educated
99%
High-School Grad
1.9 sq mi
ZIP Area
1,845
Density / Sq Mi
$150,357
Median Household Income
$66,603
Median Earnings
$2,039
Median Rent
$1,117,800
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 units - First-floor commercial condominium with updated flooring, an open layout, private offices, bathroom, and on-site parking.
Where is this office units located?
The property is located at 804 The Plaza Unit 1 Sea Girt, NJ.
What is the asking price?
The asking price for this property is $999,950.
What are key features of this property?
This property features: Approximately 2,000 square feet across two combined office condo units; First‑floor layout with an open workspace and two private offices; Recently updated flooring and one bathroom
