Two-Story Office
New
For Sale
$1,299,999
913 Sewall Avenue, Asbury Park, NJ 07712
Commercial Sale, Asbury Park, NJ
Property Size6,295 SF
Lot Size0.28 Acres
Price / SF$206.51
Days on Market1
Property Features for 913 Sewall Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Office, Industrial, Conforming Use, Commercial
Rooms
Basement
Parking
12
Parking features
RV, Parking Lot
Basement
Full, Walk-Out Access, Partially Finished, Finished
Directions
Please Gps from route 18 use exit 10A for asbury Park
Standard status
Active
APN
04-00502-0000-00013
Size
6,295 SF
Lot size
0.28 Acres
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1933
Floors in Building
2
Building materials
Block
Listing Agency:
Keller Williams Shore Properties · Keller Williams Realty
Listed By:
Angad Dhir
(732) 797-9001
Added: Sep 15
Last Checked: Sep 15 at 2:06PM
MLS# 22628566
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 6,295-square-foot office building was constructed in 1933 and includes two floors plus a basement. The interior provides multiple offices, conference rooms, and bathrooms on each level, along with storage space. Recent property updates include a new roof, six renovated bathrooms, and a new parking lot with gated access. Construction is block, with forced-air heating, window-unit cooling, public water, and public sewer.
The 0.28-acre property is located in Asbury Park, just blocks from Main Street, the Asbury Park train station, and the historic boardwalk. Train service to NYC is available from the station, while restaurants, bars, parks, entertainment venues, and the Stone Pony are also nearby. The layout supports office, coworking, professional services, and other approved uses.
The 0.28-acre property is located in Asbury Park, just blocks from Main Street, the Asbury Park train station, and the historic boardwalk. Train service to NYC is available from the station, while restaurants, bars, parks, entertainment venues, and the Stone Pony are also nearby. The layout supports office, coworking, professional services, and other approved uses.
Key Highlights
- 6,295‑square‑foot office building on a 0.28‑acre lot
- Two floors plus a basement with multiple offices and conference rooms
- Six renovated bathrooms and a new roof
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Flexible office property with multiple work areas, conference rooms, renovated bathrooms, storage, and gated parking.
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‑square‑foot office building on a 0.28‑acre lot; Two floors plus a basement with multiple offices and conference rooms; Six renovated bathrooms and a new roof
