Self-Storage Facility with
New
For Sale
$649,000
9 North St, Highlands, NJ 07732
A masonry property combines garage storage with a one-bedroom residence in a B-2 commercial district.
Property Size3,700 SF
Days on Market4
Property Features for 9 North St
General Information
Standard status
Active
Size
3,700 SF
Property subtype
Commercial
Zoning
B-2
Occupancy
50%
Additional Details
Tenant in Place
Yes
Property Use
Storage
Taxes and HOA fees
Annual Taxes
$5,299
Building Details
Building Size
3,700 SF
Year Built
1923
Buildings
1
Stories
1
Construction
masonry
Listing Agency:
Brothers Commercial Brokerage, Inc.
Listed By:
Daniel Lynch · License #35789
(732) 747-5575
Source:
Elliman
Added: Oct 23
Changed: Oct 25
Last Checked: Oct 24 at 4:16PM
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 Brothers Commercial Brokerage, Inc.
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Investment Insights
Based on property information with market context.
This 3,700-square-foot masonry building, constructed in 1923, contains six rental units: five garage spaces and a one-bedroom apartment. The structure has partial-block construction and a pitched roof, and is described as being in average condition. Occupancy is approximately 50%, with a family member renting the apartment. Continued storage use alongside the residence is supported by the existing configuration.
The property is within a B-2 commercial district, in an area described as including commercial uses and newer residential development. It also lies within the township’s redevelopment zone.
The property is within a B-2 commercial district, in an area described as including commercial uses and newer residential development. It also lies within the township’s redevelopment zone.
Key Highlights
- Six rental units: five garage spaces and one one‑bedroom apartment
- 3,700‑square‑foot masonry building, built in 1923
- Approximately 50% occupancy
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,950
Cap Rate
7.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$999,000
$999.0K
Cap Rate 7%
$713,571
$713.6K
Cap Rate 9%
$555,000
$555.0K
Market Conditions
NOI Build-Up for 3,700 SF
Gross rent
$88.8K $24.00/SF
− Vacancy
−$8.9K −$2.40/SF
EGI
$79.9K $21.60/SF
− OpEx
−$30.0K −$8.10/SF
NOI
$50.0K $13.50/SF
Area
Monmouth County, NJ
Vacancy
10.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$999,000
Cap Rate 7%
$713,571
Cap Rate 9%
$555,000
Alternative Uses
Best Use
Mixed Use
$713.6K
$624.4K – $832.5K
NOI $49,950 @ 7.0% cap · market cap 7.70%
Second Best
Warehouse
$615.3K
$538.4K – $717.8K
NOI $43,069 @ 7.0% cap · market cap 6.64%
Theoretical Best
Office A
$966.1K
$845.4K – $1.13M
NOI $67,630 @ 7.0% cap · market cap 10.42%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
50%
Occupancy
Location Intelligence
Trade Area within ½ mile
475
Businesses Nearby
Explore this area
Business Placement
Demographics for 07732, NJ
4,710
Population
3,040
Households
1.5
Avg Household Size
49
Median Age
54%
College-Educated
91%
High-School Grad
3.8 sq mi
ZIP Area
1,239
Density / Sq Mi
$90,205
Median Household Income
$72,484
Median Earnings
$1,841
Median Rent
$396,800
Median Home Value
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Market
Vacancy Rate% for Industrial in Northeast region
Frequently Asked Questions
What type of property is this?
Self storage facility - A masonry property combines garage storage with a one-bedroom residence in a B-2 commercial district.
Where is this self storage facility located?
The property is located at 9 North St Highlands, NJ.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: Six rental units: five garage spaces and one one‑bedroom apartment; 3,700‑square‑foot masonry building, built in 1923; Approximately 50% occupancy
