Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    500 Craig Rd Manalapan, NJ 07726-8748

    • Commercial real estate
    • 3.45 lot acres
    OFF-MARKET
    Last Sale
    Aug 29, 2022
    $4,485,164
    Value Estimations
    $4,560,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US59-0288549
    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 500 Craig Rd

    Year built
    1991
    Lot size
    3.45 lot acres
    Zone code
    10PR
    Property type
    Commercial real estate
    APN
    28 02503-0000-00026- 01
    APU
    280250300000002601

    Description

    This exceptional Class A medical office building, located at 500 Craig Road in Manalapan Township, New Jersey, offers a variety of suite sizes ideal for medical practices. The property boasts a total of 49,000 square feet situated on a 3-acre lot in Monmouth County (zip code 07726). Multiple tenancy options are available, with a minimum divisible space of 4,100 square feet and a maximum contiguous space of 4,100 square feet. Currently, 15,161 square feet is vacant. The available spaces include beautifully built-out professional office space featuring numerous window-lined offices (20+), two conference rooms, a reception area, in-suite bathrooms, and kitchenettes. Upper-level spaces range from approximately 2,500 to 5,100 square feet, while lower-level units range from 1,800 to 5,000 square feet. This prime location provides easy access for patients and staff. The building's modern design and amenities create a professional and welcoming environment. This is a rare opportunity to secure high-quality medical office space in a desirable location. Contact us today to learn more about leasing options and availability.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,705,000
      ML approach
      $4,575,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Manalapan
    County
    Monmouth
    State
    New Jersey
    Longitude
    -74.3018
    Latitude
    40.2846
    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
    $53,640
    $1,207,500
    $3,120,700
    $4,328,200
    -
    $1,207,500
    $3,120,700
    $4,328,200

    Comparable in this City

    • Value Estimation by Request
      3.03 Acres

      E State Rte 33 Hwy

      Commercial real estate • 3.03 Acres
      E State Rte 33 Hwy, Manalapan, NJ 07726
      View Details
    • Value Estimation by Request
      60,398 SF

      700 Tennent Rd

      Lifestyle centers • 60,398 SF
      700 Tennent Rd, Manalapan Township, NJ 07726
      View Details
    • Value Estimation by Request
      4.79 Acres

      100 Us Hwy 9th 9

      COMMERCIAL (GENERAL) • 4.79 Acres
      100 Us Hwy 9th 9, Manalapan, NJ 07726-3014
      View Details
    • Value Estimation by Request
      2.00 Acres

      50 Plz 9th 9

      COMMERCIAL (GENERAL) • 2.00 Acres
      50 Plz 9th 9, Englishtown, NJ 07726
      View Details
    • Value Estimation by Request
      3.52 Acres

      Rte 9th 9

      COMMERCIAL (GENERAL) • 3.52 Acres
      Rte 9th 9, Englishtown, NJ 07726
      View Details
    • Value Estimation by Request
      1.29 Acres

      349 Us Hwy 9th 9

      COMMERCIAL (GENERAL) • 1.29 Acres
      349 Us Hwy 9th 9, Manalapan, NJ 07726-5104
      View Details

    Similar Nearby for Sale

    • $2,525,000
      2,192 SF

      Manalapan Commercial Land - Ready to Build

      6.6-acre lot, fully approved 75,000 SF self-storage facility.
      405 Main St, Manalapan, NJ 07726
      View Details
    • $450,000
      1,927 SF

      Thriving Manalapan Restaurant Business

      Established eatery, high-traffic US-9 location.
      100 Us 9, Manalapan, NJ 07726
      View Details
    • Contact for pricing
      3.03 Acres

      Manalapan Commercial Land & Office Space

      Highway Commercial lot, ideal for various businesses.
      E State Rte 33 Hwy, Manalapan, NJ 07726
      View Details
    • Contact for pricing

      Prime Englishtown Commercial Space

      Downtown Englishtown Retail Opportunity
      Main St, Englishtown, NJ 07726
      View Details
    • $1,095,000
      1,500 SF

      Englishtown Retail Property with Drive-Thru

      Vacant 1,500 SF retail property with existing drive-thru.
      37 Main St, Englishtown, NJ 07726
      View Details
    • $1,699,999

      Manalapan Warehouse with Expansion Potential

      4000 sq ft warehouse on 5.31 acres in Manalapan, NJ.
      92 Hwy 33, Manalapan, NJ 07726
      View Details

    Similar Nearby for Lease

    • $2,700 /Mo
      1,200 SF

      Manalapan Flex/Industrial Lease Space

      Flex/industrial lease space in Manalapan, close to transportation.
      77 Pension Hl Rd, Manalapan, NJ 07726
      View Details
    • Contact for pricing
      5,330 SF

      Galleria Shopping Center: Retail Space For Lease

      Prime Route 9 Retail Space, Monmouth County
      100 Rte 9, Manalapan Township, NJ 07726
      View Details
    • $4,250 /Mo
      2,312 SF

      Renovated Office Space on 537

      Renovated 2,400 SF office space with ample parking.
      352 Monmouth Rd, Millstone Township, NJ 07726
      View Details
    • $2,000 /Mo
      Pending

      Prime Commercial Space For Lease

      Highly visible commercial space suitable for retail, offices, and restaurants.
      184 Unit T14B/15, Englishtown, NJ 07726
      View Details
    • $2,200 /Mo
      21,780 SF

      Renovated Office Building For Rent

      Newly renovated office space in high-traffic Manalapan location.
      711 Tennent Rd, Manalapan, NJ 07726
      View Details
    • $1,275 /Mo

      Updated Office Suite in Manalapan

      Bright, updated office suite in a thriving business district.
      47 Wilson Ave #2 Fl, Manalapan, NJ 07726
      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.
    500 Craig Rd
    Manalapan, NJ 07726-8748
    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.