Office Building With Gated
New
For Sale
$1,299,999
913 Sewall Avenue, Asbury Park, NJ 07712
Two-floor commercial property with a basement, renovated bathrooms, and flexible office configuration.
Property Size6,295 SF
Price / SF$206.51
Days on Market3
Property Features for 913 Sewall Avenue
General Information
Standard status
Active
Size
6,295 SF
Property subtype
Commercial
Additional Details
Public Transit
Yes
Amenities
Central air
Forced Air Heating
On Site
Paver Block
Reserved
Window Unit(s) Cooling
Building Details
Year Built
1933
Stories
2
Building Size
6,295 SF
Listing Agency:
KELLER WILLIAMS SHORE PROPERTIES
(732) 797-9001
Listed By:
ANGAD DHIR
Source:
Corcoran
Added: Sep 15
Changed: Sep 16
Last Checked: Sep 16 at 2:49PM
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 KELLER WILLIAMS SHORE PROPERTIES
Investment Insights
Based on property information with market context.
This 6,295-square-foot office property includes two floors and a basement arranged with multiple offices, conference rooms, bathrooms on each level, and substantial storage. Recent work includes a new roof, six renovated bathrooms, and a new parking lot with gated access. The layout supports office, coworking, professional services, and other approved uses.
The property is located just blocks from Main Street, the Asbury Park train station with service to NYC, and the historic boardwalk. Restaurants, bars, parks, entertainment venues, and the Stone Pony are also nearby. Built in 1933, the building combines an established commercial structure with updated site and building improvements.
The property is located just blocks from Main Street, the Asbury Park train station with service to NYC, and the historic boardwalk. Restaurants, bars, parks, entertainment venues, and the Stone Pony are also nearby. Built in 1933, the building combines an established commercial structure with updated site and building improvements.
Key Highlights
- 6,295 SF office property with two floors and a basement
- Multiple offices, conference rooms, bathrooms on every level, and ample storage
- New roof and six renovated bathrooms
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
$96,314
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
7.41%
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%
$1,926,280
$1.9M
Cap Rate 7%
$1,375,914
$1.4M
Cap Rate 9%
$1,070,156
$1.1M
Market Conditions
NOI Build-Up for 6,295 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
$188.9K $30.00/SF
− Vacancy
−$60.4K −$9.60/SF
EGI
$128.4K $20.40/SF
− OpEx
−$32.1K −$5.10/SF
NOI
$96.3K $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%
$1,926,280
Cap Rate 7%
$1,375,914
Cap Rate 9%
$1,070,156
Alternative Uses
Best Use
Office B
$1.38M
$1.20M – $1.61M
NOI $96,314 @ 7.0% cap · market cap 7.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.64M
$1.44M – $1.92M
NOI $115,063 @ 7.0% cap · market cap 8.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,059
Businesses Nearby
Explore this area
Business Placement
Demographics for 07712, NJ
39,397
Population
19,321
Households
2
Avg Household Size
42
Median Age
49%
College-Educated
93%
High-School Grad
12.2 sq mi
ZIP Area
3,229
Density / Sq Mi
$95,691
Median Household Income
$51,924
Median Earnings
$1,496
Median Rent
$578,300
Median Home Value
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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 building - Two-floor commercial property with a basement, renovated bathrooms, and flexible office configuration.
Where is this office building located?
The property is located at 913 Sewall Avenue Asbury Park, NJ.
What is the asking price?
The asking price for this property is $1,299,999.
What are key features of this property?
This property features: 6,295 SF office property with two floors and a basement; Multiple offices, conference rooms, bathrooms on every level, and ample storage; New roof and six renovated bathrooms
