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

    1026 Broad St Shrewsbury, NJ 07702

    • Commercial real estate
    • 173,156 SF
    • 24.54 lot acres
    For Lease
    View listing
    Last Sale
    Apr 15, 2024
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US59-1788392
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 1026 Broad St

    Lot size
    24.54 lot acres
    Property size
    173,156 SF
    Zone code
    3713
    Property type
    Commercial real estate
    APN
    44 00031-0000-00001
    APU
    4400031000000001

    Description

    Shrewsbury Plaza, located at 1026 Broad St, Shrewsbury, NJ 07702, offers exceptional retail space for lease in Monmouth County. This established shopping center boasts a total of 309,283 square feet and provides ample parking with 1,454 spaces. Currently, there are three spaces available, ranging from a minimum of 2,500 square feet to a maximum contiguous space of 9,600 square feet. A total of 21,155 square feet is currently vacant, presenting a significant opportunity for businesses seeking immediate occupancy. The property is classified as a multi-tenant shopping center, indicating a vibrant and established retail environment. Its strategic location in Shrewsbury, New Jersey, offers excellent visibility and accessibility for customers. The property's size and parking capacity make it suitable for a variety of retail uses, from smaller boutiques to larger format stores. Interested parties are encouraged to inquire about the available spaces and lease terms to explore this prime retail opportunity in a thriving Monmouth County location. The property is easily accessible from major roadways, ensuring convenient access for both customers and employees. This is an ideal location for businesses seeking high visibility and a strong customer base.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $38,960,000
      6.5%
      $35,965,000
      7%
      $33,395,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Shrewsbury
    County
    Monmouth
    State
    New Jersey
    Longitude
    -74.0651
    Latitude
    40.3151
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $751,467
    $15,454,000
    $23,063,000
    $38,517,000
    -
    $15,454,000
    $23,063,000
    $38,517,000

    Comparable in this City

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      $4,605,000
      41,125 SF

      179 Newman Spgs E Rd

      COMMERCIAL (GENERAL) • 41,125 SF
      179 Newman Spgs E Rd, Shrewsbury, NJ 07702-4032
      View Details
    • Value Estimation
      $18,585,000
      84,653 SF

      597 Broad St Sta, Unit A

      COMMERCIAL (GENERAL) • 84,653 SF
      597 Broad St Sta, Shrewsbury, NJ 07702-4150
      View Details
    • Value Estimation
      $1,110,000
      5,310 SF

      479 Broad St

      COMMERCIAL (GENERAL) • 5,310 SF
      479 Broad St, Shrewsbury, NJ 07702-4003
      View Details
    • Value Estimation
      $6,740,000
      31,987 SF

      512 Broad St, Unit 550

      COMMERCIAL (GENERAL) • 31,987 SF
      512 Broad St, Shrewsbury, NJ 07702-4139
      View Details
    • Value Estimation
      $1,810,000
      10,090 SF

      89 Newman Spgs E Rd

      COMMERCIAL (GENERAL) • 10,090 SF
      89 Newman Spgs E Rd, Shrewsbury, NJ 07702-4060
      View Details
    • Value Estimation
      $3,790,000
      28,914 SF

      777 Shrewsbury Ave

      COMMERCIAL (GENERAL) • 28,914 SF
      777 Shrewsbury Ave, Shrewsbury, NJ 07702-4306
      View Details

    Similar Nearby for Sale

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      Prime Office Space Near Fort

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    Similar Nearby for Lease

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      3,788 SF

      Renovated Office Space For Rent

      Recently renovated office space with shared amenities and parking.
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    • Contact for pricing

      Office Space Near GSP Exit

      Office space for rent, close to amenities and GSP.
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      First floor office space in renovated building near local amenities.
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    • Contact for pricing
      1,600 SF

      Shrewsbury Boro Medical/Professional Office

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      View Details
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    Shrewsbury, NJ 07702
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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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