Manalapan Land Redevelopment
98 Craig Rd Manalapan, NJ 07726
98 Craig Rd, Manalapan, NJ, 07726
$1,300,000
For Sale
$1,300,000
1.52 acre property in Manalapan, NJ with redevelopment potential.
Property Size3,700 SF
Lot Size1.52 Acres
Price / SF$351.35
Days on Market172
Property Features for 98 Craig Rd
General Information
- Standard status
- Active
- Size
- 3,700 SF
- Lot size
- 1.52 Acres
Listing Agency
Robert DeFalco Realty Inc.
(732) 845-3200
Listed by
Janice Rizzo · License #1324783
(732) 845-3200
Source
Exprealty
Added: Jan 26 Checked: Jul 16 at 1:04 am
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 Robert DeFalco Realty Inc.
Investment Insights
Based on property information with market context.
This 1.52-acre property is located in Manalapan, New Jersey, and presents an investment and redevelopment opportunity within the OP-3 Office Professional Zone. The site is in a visible and convenient location, offering potential for future development while providing immediate income. The property includes a 3,700 sq ft professional office building configured for medical and professional use. The building features multiple private offices, reception areas, and a handicap chair lift for accessibility to the second floor. The property is fully occupied with tenants under annual leases, ensuring cash flow. It offers exposure, ample parking, and proximity to major routes. This property is suited for development.
Key Highlights
- 1.52 acre property in the heart of Manalapan NJ.
- Redevelopment opportunity within the OP‑3 Office Professional Zone.
- 3,700 sq ft professional office building configured for medical and professional use.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $111.0k | $30.00 |
| − Vacancy | −$35.5k | −$9.60 |
| EGI | $75.5k | $20.40 |
| − OpEx | −$18.9k | −$5.10 |
| NOI | $56.6k | $15.30 |
3,700 SF · lease $30.00/SF/yr · vacancy 32.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$808.7K
$707.6K – $943.5K
NOI $56,610 @ 7.0% cap · market cap 4.35%
Second Best
Healthcare Medical
$787.0K
$688.7K – $918.2K
NOI $55,092 @ 7.0% cap · market cap 4.24%
Theoretical Best
Office A
$966.1K
$845.4K – $1.13M
NOI $67,630 @ 7.0% cap · market cap 5.20%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Commercial land
Similar For Sale Nearby
FAQs
What type of property is this?
Commercial land - 1.52 acre property in Manalapan, NJ with redevelopment potential.
Where is this commercial land located?
The property is located at 98 Craig Rd Manalapan, NJ.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 1.52 acre property in the heart of Manalapan NJ.; Redevelopment opportunity within the OP‑3 Office Professional Zone.; 3,700 sq ft professional office building configured for medical and professional use.
