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    2345 New Jersey 34 Manasquan, NJ 08736

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    2345 New Jersey 34 Manasquan, NJ 08736

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    • Office properties & Spaces
    • 17,640 SF
    • 2.76 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office properties & Spaces

    Property Details for 2345 New Jersey 34

    Lot size
    2.76 lot acres
    Property size
    17,640 SF
    Property type
    Office properties & Spaces
    Property subtype
    Medical Office Space

    Description

    This exceptional investment opportunity presents a meticulously planned medical office building site in Wall Township, Monmouth County, New Jersey. Located at 2345 New Jersey 34, this 2.76-acre property boasts Planning Board approval for a two-story, ±17,640 square foot medical office building, with ±8,820 square feet per floor. A one-story, ±8,820 square foot option is also available, providing flexibility for various development scenarios. The property features ample parking with 122 spaces, catering to both patients and staff. An approved elevator ensures accessibility for all. The building design includes ±8,820 square feet of basement storage, adding significant utility. The property is zoned OB-40, reflecting its suitability for medical use. High visibility is ensured by its location on a major thoroughfare with a documented traffic count of 37,524 vehicles per day (2017 data). Detailed site plans and architectural drawings are available for review. The asking price for this turnkey development opportunity is $1,400,000. This property offers a rare combination of approved plans, ample space, convenient location, and significant parking, making it an ideal investment for healthcare providers or developers seeking a high-return opportunity in a thriving New Jersey market. The property's zip code is 08736.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Manasquan
    County
    Monmouth
    State
    New Jersey
    Longitude
    -74.0893
    Latitude
    40.1323

    Comparable in this City

    • Value Estimation by Request
      1.20 Acres

      2388 Rte 34

      Medical Office Space • 7,402 SF
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    • Value Estimation by Request
      1,288 SF

      1903 Atlantic Ave, Unit 3

      CONDOMINIUM OFFICES • 1,288 SF
      1903 Atlantic Ave, Manasquan, NJ 08736-1005
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    • Value Estimation
      $510,000
      1,775 SF

      1903 Atlantic Ave, Unit A

      CONDOMINIUM OFFICES • 1,775 SF
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    • Value Estimation by Request
      1,956 SF

      2640 Hwy 70th Ste, Unit 11

      CONDOMINIUM OFFICES • 1,956 SF
      2640 Hwy 70th Ste, Manasquan, NJ 08736-2612
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    • Value Estimation by Request
      953 SF

      2329 Hwy 34th Ste, Unit 201

      CONDOMINIUM OFFICES • 953 SF
      2329 Hwy 34th Ste, Manasquan, NJ 08736-1442
      View Details
    • Value Estimation by Request
      1,085 SF

      2329 Hwy 34th Ste, Unit 305

      CONDOMINIUM OFFICES • 1,085 SF
      2329 Hwy 34th Ste, Manasquan, NJ 08736-1442
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      17,640 SF

      Approved Medical Office Development Site

      Approved site for medical office building on Route 34.
      2345 New Jersey 34, Wall Township, NJ 08736
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    • $1,199,000

      Mixed-Use Property with Residential Unit

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      Land for Sale

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      Manasquan Multi-Tenant Flex Building

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      Manasquan Riverfront Land Opportunity

      Cleared lot with approved dock permit on the Manasquan River.
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    Similar Nearby for Lease

    • Contact for pricing

      Approved Medical Office Building Site

      Approved site for a medical office building for lease.
      2345 New Jersey 34, Wall Township, NJ 08736
      View Details
    • $1,800 /Mo

      Manasquan Office Suite For Rent

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      46,609 SF

      Manasquan Office Space For Rent

      Two-office suite with prime highway frontage and amazing visibility.
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    • $5,781 /Mo
      3,490 SF

      Warehouse/Office Space For Lease

      Two-story warehouse/office space with parking and highway access.
      2231 Landmark Pl, Manasquan, NJ 08736
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    • $1,800 /Mo

      Manasquan Office Suite For Rent

      Five-room office suite in Manasquan, near train and amenities.
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    • $2,400 /Mo
      16,790 SF

      Route 35 Office Suite

      Office suite for lease with highway exposure and easy access.
      2600 New Jersey 35, Wall Township, NJ 08736
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    Manasquan, NJ 08736
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    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
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    2345 New Jersey 34, Manasquan, NJ, 08736

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