Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    Joe Parker Rd Lakewood, NJ 08701

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $5,199,999

    3.03-acre approved school campus with dormitory and gymnasium plans.

    Lot size:
    3.03 Acres

    Property Features for Joe Parker Rd

    General Information

    Standard status
    Active
    Lot size
    3.03 Acres

    We can help!

    Listing Contact
    Devora Munk
    Source: Corcoran

    Listing Agent: Devora Munk

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Approved School Campus in Lakewood

    This 3.03-acre property in Lakewood is zoned and approved for an educational campus, including a school and dormitory. Plans for a full-sized gymnasium and swimming pool are also included. The property is designed for a modern campus environment, with architectural plans and a clear site. Approved plans feature on-site parking and purpose-built educational and dormitory facilities. The campus layout is designed for optimal use and flow. With approvals in place and no wetlands, this property is ready for immediate development. Opportunities like this are rare in Lakewood, especially with this level of planning and approval already completed. The property is intended for use as an educational campus with a school and dormitory.
    Location Intelligence

    Current Use by Public Records

    Schools

    Map

    City
    Lakewood
    County
    Ocean
    State
    New Jersey
    Longitude
    -74.171213
    Latitude
    40.099152

    Nearby Similar for Sale

    • $3,200,000
      Pending

      Iconic Lakewood Building For Sale

      Three-story commercial building with basement in downtown Lakewood, New Jersey.
      310 3Rd St, Lakewood, NJ 08701
      View Details
    • New
      $207,000
      982 SF

      Updated Duplex in Retirement Community

      Updated duplex in active adult community with many amenities.
      131 Farrington Ct, Lakewood, NJ 08701
      View Details
    • New
      $849,000
      2,300 SF

      Classic Brick Building in Lakewood

      Adaptable brick building suitable for office or institutional use.
      200 Monmouth Ave, Lakewood, NJ 08701
      View Details
    • $6,800,000
      24,000 SF

      Mixed-Use Building on Route 70

      24,000 sq ft mixed-use building on 2 acres in Lakewood.
      300 Highway 70, Lakewood, NJ 08701
      View Details
    • $999,000
      2,194 SF

      Lakewood Multifamily Investment Opportunity

      Multifamily property with three apartments in a prime Lakewood location.
      116 6Th St, Lakewood, NJ 08701
      View Details
    • $1,175,000
      Pending

      Lakewood Land for Sale

      Land in Lakewood, NJ, near places of worship.
      6 11Th St, Lakewood, NJ 08701
      View Details
    • $195,000
      Pending

      Lakewood Ranch Duplex Opportunity

      Duplex in Lakewood, NJ, partially gutted and ready to finish.
      84B Gladiola Ct, Lakewood, NJ 08701
      View Details
    • $220,000
      982 SF

      Lakewood Duplex with Lake View

      Duplex in Leisure Village with lake view and upgrades.
      678 New Castle Ct, Lakewood, NJ 08701
      View Details
    • $400,000

      Turnkey Restaurant Opportunity in Lakewood

      Fully equipped restaurant ready for immediate operation in Lakewood, NJ.
      1201 River Ave, Lakewood, NJ 08701
      View Details
    • $4,800,000
      3.03 Acres

      Approved School Campus in Lakewood

      3.03-acre property approved for school and dormitory in Lakewood.
      Joe Parker Rd, Lakewood, NJ 08701
      View Details
    • $220,000

      55+ Condo with Modern Amenities

      Two-bedroom condo in 55+ community with clubhouse and pool.
      219 Sophee Ln, Lakewood, NJ 08701
      View Details
    • $259,900

      Active Adult Community Condo

      Condo in Lakewood's premier 55+ active adult community.
      629 Sophee Ln, Lakewood, NJ 08701
      View Details

    FAQs

    What type of property is this?
    School - 3.03-acre approved school campus with dormitory and gymnasium plans.
    Where is this school located?
    The property is located at Joe Parker Rd Lakewood, NJ.
    What is the asking price?
    The asking price for this property is $5,199,999.
    What are key features of this property?
    This property features: - Fully approved 3.03-acre property zoned for an educational campus with school and dormitory in Lakewood.; - Includes approved plans for a **full-sized gymnasium and swimming pool**.; - **Turnkey readiness** with meticulously designed architectural plans by top-tier professionals.
    (732) 352-1000
    Request Owner's contact information
    Joe Parker Rd Lakewood, NJ 08701
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Joe Parker Rd
    Lakewood, NJ 08701
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Joe Parker Rd Lakewood, NJ 08701
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Devora Munk
    (732) 352-1000
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.