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    Property profile & analytics

    2225 Nj-88 Brick Township, NJ 08724

    • Land
    • 1.73 lot acres
    For Sale
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 2225 Nj-88

    Lot size
    1.73 lot acres
    Property type
    Land

    Description

    This exceptional 1.73-acre commercial land parcel, located at 2225 NJ-88 in Brick Township, Ocean County, New Jersey (zip code 08724), presents a unique investment opportunity. The property, identified as Block 1026, Lot 20, boasts full zoning and planning board approvals for the construction of an approximately 81,375-square-foot, three-story self-storage facility. This pre-approved project offers a significant advantage, eliminating lengthy permitting processes and allowing for immediate development. The site's 27,125-square-foot footprint is strategically positioned within a thriving market. With a current supply of only 5.4 net rentable square feet per capita, this location demonstrates strong demand for additional self-storage options. The substantial population of approximately 80,000 people within a three-mile radius ensures a robust customer base. Further enhancing the investment potential is the average rent of $2.42 per square foot for a 10x10 climate-controlled unit, indicating a promising return on investment. This turnkey opportunity is ideal for developers seeking a fast-track project with significant upside potential in a high-demand market. Don't miss this chance to acquire a fully approved site ready for immediate development.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Brick Township
    County
    Ocean
    State
    New Jersey
    Longitude
    -74.0936
    Latitude
    40.0779

    Comparable in this City

    • Value Estimation by Request

      2183 Nj-88

      Land
      2183 Nj-88, Brick Township, NJ 08724
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    • Value Estimation
      $515,000
      5.30 Acres

      925 Rte 70

      COMMERCIAL (GENERAL) • 5.30 Acres
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    • Value Estimation by Request
      1.02 Acres

      1743 Rte 88

      COMMERCIAL (GENERAL) • 1.02 Acres
      1743 Rte 88, Brick, NJ 08724-3015
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      $3,115,000
      11,710 SF

      525 Jack Martin Blvd

      COMMERCIAL (GENERAL) • 11,710 SF
      525 Jack Martin Blvd, Brick, NJ 08724-7737
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    • Value Estimation
      $910,000
      5,383 SF

      354 Herbertsville Rd

      COMMERCIAL (GENERAL) • 5,383 SF
      354 Herbertsville Rd, Brick, NJ 08724-1735
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    • Value Estimation by Request
      1,794 SF

      366 Herbertsville Rd

      COMMERCIAL (GENERAL) • 1,794 SF
      366 Herbertsville Rd, Brick, NJ 08724-1735
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    Similar Nearby for Sale

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      Cleared and Leveled Land Parcel

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    • $49,000

      Vacant Land in Brick Township

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      Vacant Land For Sale

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      1.73 Acres

      Prime Brick Township Land for Sale

      1.73 Acres, Approved Self Storage
      2225 Nj-88, Brick Township, NJ 08724
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    • $450,000
      1.70 Acres

      Commercial Land Available in Brick

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    Similar Nearby for Lease

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      43,560 SF

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      Prime Land for Lease

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      15,760 SF

      Warehouse and Storage on Burnt Tavern

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      1,500 SF

      Retail Space in Brick, NJ

      Retail space available for lease in Brick, New Jersey.
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      Prime Retail Space on Route 88

      1,450 SF retail space on Route 88 in Brick, NJ.
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      18,731 SF

      Professional Office Space Available

      Well-maintained 900 SF office space in Brick, NJ.
      1869 Route 88, Brick, NJ 08724
      View Details
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    2225 Nj-88
    Brick Township, NJ 08724
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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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