Manalapan Land Redevelopment
For Sale
$1,300,000
98 Craig Road, Manalapan, NJ 07726
1.52 acre property in Manalapan, NJ with redevelopment potential.
Property Size3,700 SF
Lot Size1.52 Acres
Price / SF$351.35
Days on Market211
Property Features for 98 Craig Road
General Information
Standard status
Active
Size
3,700 SF
Lot size
1.52 Acres
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$13,499
Amenities
Central Air
3
Level
Level, Clear lot.
Building Details
Year Built
1972
Listing Agency:
Robert DeFalco Realty Inc.
(973) 315-5959
Listed By:
Janice Rizzo · License #1324783
(973) 315-5959
Source:
Xome
Added: Jan 26
Changed: Aug 23
Last Checked: Aug 24 at 4:03AM
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.
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
$56,610
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
4.35%
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%
$1,132,200
$1.1M
Cap Rate 7%
$808,714
$808.7K
Cap Rate 9%
$629,000
$629.0K
Market Conditions
NOI Build-Up for 3,700 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
$111.0K $30.00/SF
− Vacancy
−$35.5K −$9.60/SF
EGI
$75.5K $20.40/SF
− OpEx
−$18.9K −$5.10/SF
NOI
$56.6K $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%
$1,132,200
Cap Rate 7%
$808,714
Cap Rate 9%
$629,000
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 authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
726
Businesses Nearby
Explore this area
Business Placement
Demographics for 07726, NJ
44,945
Population
16,822
Households
2.7
Avg Household Size
45
Median Age
55%
College-Educated
97%
High-School Grad
33.1 sq mi
ZIP Area
1,358
Density / Sq Mi
$145,625
Median Household Income
$75,503
Median Earnings
$1,973
Median Rent
$603,000
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?
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 Road 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.
