Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    83 South St Freehold, NJ 07728

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    83 South St Freehold, NJ 07728

    View on Map
    • Office properties & Spaces
    • 40,378 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office properties & Spaces

    Property Details for 83 South St

    Year built
    2008
    Property size
    40,378 SF
    Property type
    Office properties & Spaces
    Property subtype
    Office Units

    Description

    This exceptional Class A office building, Freehold Commons, offers a variety of flexible spaces for lease in the vibrant downtown Freehold Borough, NJ. Built in 2008, this single, three-story building boasts a total of 40,378 square feet and features an attractive brick exterior. The property offers multiple tenancy options, with available spaces ranging from a minimum of 800 square feet to a maximum contiguous space of 6,450 square feet. Currently, there are 9,235 square feet of vacant space available. The building's design caters to various office needs, accommodating traditional, executive, medical, and creative office spaces. Convenient covered and surface parking is provided for tenants and their clients. Enjoy the benefits of a prime location, within walking distance of a wide array of restaurants and shops in the heart of Freehold Borough. The address is 83 South Street, Freehold, NJ 07728. This is an excellent opportunity to secure high-quality office space in a thriving New Jersey community. Contact us today to learn more about available suites and lease terms.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Freehold
    County
    Monmouth
    State
    New Jersey
    Longitude
    -74.2728
    Latitude
    40.2554

    Comparable in this City

    • Value Estimation by Request
      7,164 SF

      96 Vlg Ctr Dr And Rte

      Medical Office Space • 7,164 SF
      96 Vlg Ctr Dr And Rte, Freehold, NJ 07728
      View Details
    • Value Estimation by Request
      3,413 SF

      680 Main St

      DENTAL BUILDING • 3,413 SF
      680 Main St, Freehold, NJ 07728-2527
      View Details
    • Value Estimation by Request
      13,918 SF

      4400 Rte 9

      Office Units • 13,918 SF
      4400 Rte 9, Freehold Township, NJ 07728
      View Details
    • Value Estimation by Request

      195 Us Hwy 9th 9

      CONDOMINIUM OFFICES
      195 Us Hwy 9th 9, Freehold, NJ 07728
      View Details
    • Value Estimation by Request

      301-303 Candlewood Cmns

      Office properties & Spaces
      301-303 Candlewood Cmns, Howell, NJ 07728
      View Details
    • Value Estimation by Request

      195 Us Hwy 9th 9

      CONDOMINIUM OFFICES
      195 Us Hwy 9th 9, Freehold, NJ 07728
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Commercial Land For Sale

      1.0 AC commercial land ideal for retail/office development.
      Adelphia Rd & Wyckoff Ml Rd, Freehold, NJ 07728
      View Details
    • Contact for pricing

      Victorian Office Conversion in Freehold

      Charming Victorian converted office with parking in downtown Freehold.
      94 W Main St, Freehold, NJ 07728
      View Details
    • $1,295,000
      5,546 SF

      Downtown Freehold Multi-Use Commercial Property

      Versatile commercial property in downtown Freehold, ideal for office or restaurant.
      75 South St, Freehold, NJ 07728
      View Details
    • $1,950,000

      Freehold Borough Landmark Property

      Mixed-use property in high demand downtown Freehold Borough.
      34 East Main St, Freehold, NJ 07728
      View Details
    • $1,000,000

      Freehold Retail Opportunity

      Freestanding building in downtown Freehold with high visibility.
      61 W Main St, Freehold, NJ 07728
      View Details
    • $2,300,000
      9,652 SF

      Mixed-Use Property in Freehold, NJ

      Income-producing mixed-use property with retail, office, and residential units.
      41 E Main St, Freehold, NJ 07728
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,720 SF

      Downtown Freehold Office Suites Available

      Professional office suites for lease in downtown Freehold.
      36 W Main St, Freehold, NJ 07728
      View Details
    • Contact for pricing
      1,950 SF

      Downtown Freehold Professional Office Suites

      Multiple office suites available in downtown Freehold.
      36 W Main St, Freehold, NJ 07728
      View Details
    • $1,100 /Mo

      Professional Office Space For Rent

      Second floor office space with private bathroom available May 2026.
      590 Park Ave, Freehold, NJ 07728
      View Details
    • New
      Contact for pricing

      Freehold Office Space Available

      Professional office space in downtown Freehold, available immediately.
      9 South St, Freehold, NJ 07728
      View Details
    • Contact for pricing

      Route 9 South Office Space

      Office space near commercial hubs, Philadelphia and New York.
      4400 Rte 9 South, Freehold, NJ 07728
      View Details
    • Contact for pricing
      2,591 SF

      Downtown Freehold Office Space

      2,591 SF office space in downtown Freehold, NJ.
      64 W Main St, Freehold, NJ 07728
      View Details
    Request Owner's contact information
    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.
    83 South St
    Freehold, NJ 07728
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!