Multi-Tenant Industrial Flex
For Sale
$1,000,000
9 Mount Lane #1, Manasquan, NJ 08736
8,000+ SF multi-tenant industrial flex building with income potential.
Property Size8,441 SF
Lot Size0.37 Acres
Price / SF$118.47
Days on Market157
Property Features for 9 Mount Lane #1
General Information
Standard status
Active
Size
8,441 SF
Lot size
0.37 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$11,431
Amenities
Forced Air Heating
On Street
Building Details
Year Built
1912
Listing Agency:
KEYVEST LLC
(877) 662-7540
Listed By:
THOMAS M SANTORO JR.
Source:
Corcoran
Added: Mar 6
Changed: Aug 9
Last Checked: Aug 9 at 8:09PM
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 KEYVEST LLC
Investment Insights
Based on property information with market context.
This multi-tenant industrial flex building offers warehouse functionality, income in place, and strong upside. The property features a 4,100 SF warehouse with approximately 20' ceilings, currently rented for $2,350. Additionally, there is a 2,300 SF warehouse/office space that includes 300 SF of office area and 15-16' ceilings, rented for $1,600. The building also contains a 750 SF first-floor office rented for $675, and an 850 SF second-floor office which is currently vacant but previously rented for $625. The roof and HVAC systems are approximately 5 years old. The building utilizes gas heat throughout, with AC in the office units. Tenants are responsible for utilities, taxes, and snow removal. The property is zoned B-3, features short-term leases and below-market rents, offering value-add potential. The property is not located in a flood zone (buyer to confirm).
Key Highlights
- 8,000+ SF multi‑tenant industrial flex building in a desirable commercial corridor.
- Income in place with strong upside potential due to below‑market rents and short‑term leases.
- 4,100 SF warehouse with ~20' ceilings and a 2,300 SF warehouse/office space.**
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
$80,916
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
8.09%
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%
$1,618,320
$1.6M
Cap Rate 7%
$1,155,943
$1.2M
Cap Rate 9%
$899,067
$899.1K
Market Conditions
NOI Build-Up for 8,441 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
$121.6K $14.40/SF
− Vacancy
−$6.0K −$0.71/SF
EGI
$115.6K $13.69/SF
− OpEx
−$34.7K −$4.11/SF
NOI
$80.9K $9.59/SF
Area
Monmouth County, NJ
Vacancy
4.90%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
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%
$1,618,320
Cap Rate 7%
$1,155,943
Cap Rate 9%
$899,067
Alternative Uses
Best Use
Flex RnD
$1.98M
$1.73M – $2.31M
NOI $138,458 @ 7.0% cap · market cap 13.85%
Second Best
Office B
$1.84M
$1.61M – $2.15M
NOI $129,147 @ 7.0% cap · market cap 12.91%
Theoretical Best
Office A
$2.20M
$1.93M – $2.57M
NOI $154,288 @ 7.0% cap · market cap 15.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
934
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 08736, NJ
12,566
Population
6,155
Households
2
Avg Household Size
49
Median Age
70%
College-Educated
99%
High-School Grad
4.7 sq mi
ZIP Area
2,674
Density / Sq Mi
$170,042
Median Household Income
$72,924
Median Earnings
$1,838
Median Rent
$849,800
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- ENJOY EVENTS — Manasquan, NJ 08736
Frequently Asked Questions
What type of property is this?
Flex space - 8,000+ SF multi-tenant industrial flex building with income potential.
Where is this flex space located?
The property is located at 9 Mount Lane #1 Manasquan, NJ.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: 8,000+ SF multi‑tenant industrial flex building in a desirable commercial corridor.; Income in place with strong upside potential due to below‑market rents and short‑term leases.; 4,100 SF warehouse with ~20' ceilings and a 2,300 SF warehouse/office space.**
