Professional Office with Two
For Sale
$525,000
929 Lacey Road, Forked River, NJ 08731
Well-appointed upper floor office space with a separate lower level office and ample on-site parking.
Property Size2,144 SF
Price / SF$244.87
Days on Market95
Property Features for 929 Lacey Road
General Information
Standard status
Active
Size
2,144 SF
Property subtype
Commercial
Building Details
Year Built
1965
Listing Agency:
RE/MAX at Barnegat Bay
Listed By:
Alan Seeland
(833) 740-1234
Source:
Actionplusrealty
Added: Jun 4
Changed: Sep 5
Last Checked: Sep 6 at 9:32AM
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 RE/MAX at Barnegat Bay
Investment Insights
Based on property information with market context.
This well-appointed office property includes an upper floor professional office space and a separate lower level office that can be rented independently or used by a single occupant. The property is currently occupied as a professional financial services office.
The building is located about 3/10 of a mile from Garden State Parkway access on busy Lacey Road. An entrance from a side street supports convenient access, and the property provides ample on-site parking with a highly visible signage location.
The configuration offers two distinct office levels, which can support a variety of occupancy approaches while maintaining straightforward day-to-day access for staff and visitors.
The building is located about 3/10 of a mile from Garden State Parkway access on busy Lacey Road. An entrance from a side street supports convenient access, and the property provides ample on-site parking with a highly visible signage location.
The configuration offers two distinct office levels, which can support a variety of occupancy approaches while maintaining straightforward day-to-day access for staff and visitors.
Key Highlights
- Year built: 1965
- Well‑appointed upper floor professional office space
- Separate lower level office can be rented or used by a single occupant
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
$32,803
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
6.25%
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%
$656,060
$656.1K
Cap Rate 7%
$468,614
$468.6K
Cap Rate 9%
$364,478
$364.5K
Market Conditions
NOI Build-Up for 2,144 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
$64.3K $30.00/SF
− Vacancy
−$20.6K −$9.60/SF
EGI
$43.7K $20.40/SF
− OpEx
−$10.9K −$5.10/SF
NOI
$32.8K $15.30/SF
Area
Ocean 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%
$656,060
Cap Rate 7%
$468,614
Cap Rate 9%
$364,478
Alternative Uses
Best Use
Office B
$468.6K
$410.0K – $546.7K
NOI $32,803 @ 7.0% cap · market cap 6.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$559.8K
$489.9K – $653.2K
NOI $39,189 @ 7.0% cap · market cap 7.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
Explore this area
Business Placement
Demographics for 08731, NJ
20,953
Population
9,663
Households
2.2
Avg Household Size
45
Median Age
32%
College-Educated
94%
High-School Grad
78.1 sq mi
ZIP Area
268
Density / Sq Mi
$93,267
Median Household Income
$45,345
Median Earnings
$2,080
Median Rent
$360,000
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Well-appointed upper floor office space with a separate lower level office and ample on-site parking.
Where is this office units located?
The property is located at 929 Lacey Road Forked River, NJ.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Year built: 1965; Well‑appointed upper floor professional office space; Separate lower level office can be rented or used by a single occupant
