Professional Office
For Sale
$525,000
929 Lacey Road, Forked River, NJ 08731
COMMERCIAL - Forked River, NJ
Property Size2,144 SF
Lot Size0.22 Acres
Price / SF$244.87
Days on Market47
Property Features for 929 Lacey Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Parking features
Open
Directions
Parkway to Lacey Rd
Subdivision
Forked River
Standard status
Active
APN
13-01568-0000-00001
Size
2,144 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
10636
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1965
Floors in Building
2
Listing Agency:
RE/MAX at Barnegat Bay
(732) 473-1700
Listed By:
Alan Seeland · License #9591828
(732) 473-1700
Added: Jul 6
Changed: Aug 4
Last Checked: Aug 21 at 11:06PM
MLS# 22620524
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 2,144-square-foot office property on a 0.22-acre parcel includes professional workspace on the upper floor and a distinct lower-level office area. The layout can accommodate a primary occupant using both levels or separate use of the lower space. The property is currently occupied by a professional financial services office and was built in 1965. Interior comfort is supported by forced-air heating and central air conditioning.
The site sits along Lacey Road, 3/10th of a mile from access to the Garden State Parkway. Entry is available from a side street, while open on-site parking and a visible signage position support convenient arrival. Public water and public sewer serve the property.
The site sits along Lacey Road, 3/10th of a mile from access to the Garden State Parkway. Entry is available from a side street, while open on-site parking and a visible signage position support convenient arrival. Public water and public sewer serve the property.
Key Highlights
- 2,144 SF office property on a 0.22‑acre parcel
- Upper‑level professional office area plus separate lower‑level office
- 3/10th of a mile from Garden State Parkway access
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
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
552
Businesses Nearby
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Upper- and lower-level configurations support professional office use with flexible occupancy options.
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: 2,144 SF office property on a 0.22‑acre parcel; Upper‑level professional office area plus separate lower‑level office; 3/10th of a mile from Garden State Parkway access
