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

    303 Main St Freehold, NJ 07728

    • Office buildings
    • 61,152 SF
    • 4.89 lot acres
    For Lease
    View listing
    $25 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US59-2176399
    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

    • Office buildings

    Property Details for 303 Main St

    Year built
    1971
    Lot size
    4.89 lot acres
    Property size
    61,152 SF
    Zone code
    CM-2
    Property type
    Office buildings
    APN
    17 00069- 05-00036- 01
    APU
    1700069050003601

    Description

    303 W. Main Street in Freehold, Monmouth County, offers exceptional Class A office space in a four-story building totaling 61,312 square feet. Built in 1975 and extensively renovated in 2007, this property boasts a desirable location at the intersection of Routes 9 & 33, providing convenient access to CentraState Medical Center, the Monmouth County Courthouse, and downtown Freehold Borough. The building features ample parking with 200 spaces and elevators for easy access to all four floors. Multiple tenancy options are available, with a minimum divisible space of 1,685 square feet and a maximum contiguous space of 6,299 square feet. Currently, 9,761 square feet of space is vacant, offering immediate occupancy opportunities. The building is suitable for a variety of office uses, including executive, medical, and creative office spaces. This property presents a unique opportunity to establish a presence in a thriving and accessible location within Monmouth County. The building's Class A designation reflects its high-quality construction, modern amenities, and prime location. Interested parties are encouraged to inquire about available suite sizes and lease terms.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $8,731,000
      Market price range: $8.73M - $12.8M
      AI Estimate
      $8,196,000
      Market price range: $8.20M - $14.6M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $11,065,000
      Current use
      INDUSTRIAL (GENERAL)
      $12,605,000
      Change: +14% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $12,480,000
      Change: +13% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Freehold
    County
    Monmouth
    State
    New Jersey
    Longitude
    -74.2977
    Latitude
    40.2457
    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
    $147,095
    $2,114,300
    $6,039,300
    $8,153,600
    -
    $2,114,300
    $6,039,300
    $8,153,600

    Comparable in this City

    • Value Estimation
      $8,780,000
      64,383 SF

      3 Paragon Way

      OFFICE BUILDING • 64,383 SF
      3 Paragon Way, Freehold, NJ 07728-9575
      View Details
    • Value Estimation
      $9,055,000
      66,440 SF

      4 Paragon Way

      OFFICE BUILDING • 66,440 SF
      4 Paragon Way, Freehold, NJ 07728-7804
      View Details
    • Value Estimation
      $810,000
      5,434 SF

      31 Schanck Rd

      OFFICE BUILDING • 5,434 SF
      31 Schanck Rd, Freehold, NJ 07728-5307
      View Details
    • Value Estimation
      $530,000
      2,880 SF

      222 Ss St

      OFFICE BUILDING • 2,880 SF
      222 Ss St, Freehold, NJ 07728-2619
      View Details
    • Value Estimation by Request
      4,608 SF

      178 Ss St

      OFFICE BUILDING • 4,608 SF
      178 Ss St, Freehold, NJ 07728-2676
      View Details
    • Value Estimation
      $1,455,000
      10,150 SF

      231 Throckmorton St

      OFFICE BUILDING • 10,150 SF
      231 Throckmorton St, Freehold, NJ 07728-8901
      View Details

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    • Contact for pricing
      2.25 Acres

      352 Monmouth Rd, Freehold, NJ 07728

      Office Properties & Spaces • 2.25 Acres
      352 Monmouth Rd, Freehold, NJ 07728
      View Details
    • $475,000
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      Dental Office with Examining Rooms

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    Similar Nearby for Lease

    • $4,250 /Mo
      98,010 SF

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      Renovated office space with ample parking and natural light.
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      View Details
    • Contact for pricing
      1,700 SF

      Freehold Office Space Available

      1700 SF office space for rent in Freehold, NJ.
      39 Throckmorton St, Freehold, NJ 07728
      View Details
    • Contact for pricing

      Office Space Near CentraState Hospital

      Office space suitable for medical or professional use, near hospital.
      900 W Main St, Freehold, NJ 07728
      View Details
    • Contact for pricing
      2,614 SF

      Freehold Office Space For Rent

      Office space in the heart of Freehold, great visibility.
      4 B, Freehold, NJ 07728
      View Details
    • Contact for pricing

      Freehold Office Space Available

      Office spaces for rent in Freehold, NJ with tenant amenities.
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      View Details
    • $20 SF/Yr
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      Prime Farmingdale Office Space

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      View Details
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    303 Main St
    Freehold, NJ 07728
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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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