Residential Lot with House and
For Sale
$399,000
81 Morris Avenue, Neptune City, NJ 07753
Land/Lots, Neptune City, NJ
Property Size872 SF
Lot Size0.11 Acres
Price / SF$457.57
Days on Market49
Property Features for 81 Morris Avenue
General Information
Property type
Land
Property subtype
Other
Zoning description
Neighborhood, Multi-Use
Lot features
Level, Curbing
Middle school
Woodrow Wilson
Directions
81 Morris Ave aka 81 Rt. 35 Property sits one off the corner of Evergreen Ave and Rt 35 south
Standard status
Active
APN
36-00052-0000-00017
Size
872 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
6291
Building Details
Additional Structures
Residence
Listing Agency:
RE/MAX Gateway
(732) 695-1600
Listed By:
Robert M Roccia · License #230927
(732) 890-0598
Added: Jul 22
Changed: Sep 4
Last Checked: Sep 8 at 6:06AM
MLS# 22622407
Copyright © 2026 More MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This offering is a small lot for sale that includes a house and garage. The property size is noted as 0.11 acres, and public remarks indicate due diligence is required regarding zoning and allowable uses.
The site is located in Neptune City, NJ. Public remarks specify the property is in Commercial Zone C, and buyers are directed to confirm permitted uses with Neptune City zoning based on lot size.
Please note the listing instructs not to walk the property. Any development or use should be verified through the appropriate zoning and due diligence process prior to moving forward.
The site is located in Neptune City, NJ. Public remarks specify the property is in Commercial Zone C, and buyers are directed to confirm permitted uses with Neptune City zoning based on lot size.
Please note the listing instructs not to walk the property. Any development or use should be verified through the appropriate zoning and due diligence process prior to moving forward.
Key Highlights
- Lot for sale with a small house and garage
- Property located in Commercial Zone C
- Zoning and allowable uses to be verified with Neptune City Zoning based on lot size
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
$13,410
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
3.36%
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%
$268,200
$268.2K
Cap Rate 7%
$191,571
$191.6K
Cap Rate 9%
$149,000
$149.0K
Market Conditions
NOI Build-Up for 872 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
$26.2K $30.00/SF
− Vacancy
−$1.8K −$2.04/SF
EGI
$24.4K $27.96/SF
− OpEx
−$11.0K −$12.58/SF
NOI
$13.4K $15.38/SF
Area
Monmouth County, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
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%
$268,200
Cap Rate 7%
$191,571
Cap Rate 9%
$149,000
Alternative Uses
Best Use
Apartment 5plus
$191.6K
$167.6K – $223.5K
NOI $13,410 @ 7.0% cap · market cap 3.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$227.7K
$199.2K – $265.7K
NOI $15,939 @ 7.0% cap · market cap 3.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,337
Businesses Nearby
Explore this area
Business Placement
Demographics for 07753, NJ
37,397
Population
16,701
Households
2.2
Avg Household Size
45
Median Age
37%
College-Educated
93%
High-School Grad
16.0 sq mi
ZIP Area
2,337
Density / Sq Mi
$92,824
Median Household Income
$49,953
Median Earnings
$1,740
Median Rent
$390,900
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Commercial land - Small lot includes an on-site house and garage, located in Neptune City’s Commercial Zone C.
Where is this commercial land located?
The property is located at 81 Morris Avenue Neptune City, NJ.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Lot for sale with a small house and garage; Property located in Commercial Zone C; Zoning and allowable uses to be verified with Neptune City Zoning based on lot size
