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

    591 State Route 34 Matawan, NJ 07747

    • Commercial real estate
    • 1,771 SF
    • 0.47 lot acres
    For Lease
    View listing
    $1,100 /Mo
    Last Sale
    Apr 12, 2022
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US59-1247074
    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 591 State Route 34

    Year built
    1967
    Lot size
    0.47 lot acres
    Property size
    1,771 SF
    Zone code
    R20
    Property type
    Commercial real estate
    APN
    15 03236- 24-00025- 11
    APU
    1503236240002511

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Matawan
    County
    Middlesex
    State
    New Jersey
    Longitude
    -74.2518
    Latitude
    40.418
    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
    $11,879
    $109,800
    $112,200
    $222,000
    -
    $109,800
    $112,200
    $222,000

    Comparable in this City

    • Value Estimation
      $1,215,000
      5,768 SF

      40 Main St

      COMMERCIAL (GENERAL) • 5,768 SF
      40 Main St, Matawan, NJ 07747-2555
      View Details
    • Value Estimation
      $765,000
      4,434 SF

      1108 State Rte 34

      COMMERCIAL (GENERAL) • 4,434 SF
      1108 State Rte 34, Matawan, NJ 07747-2167
      View Details
    • Value Estimation
      $1,015,000
      7,901 SF

      419 State Rte 34

      COMMERCIAL (GENERAL) • 7,901 SF
      419 State Rte 34, Matawan, NJ 07747-2175
      View Details
    • Value Estimation
      $6,175,000
      56,128 SF

      65 State Rte 34

      COMMERCIAL (GENERAL) • 56,128 SF
      65 State Rte 34, Matawan, NJ 07747
      View Details
    • Value Estimation by Request

      1061 Rte 34

      Commercial real estate
      1061 Rte 34, Matawan, NJ 07747
      View Details
    • Value Estimation by Request

      State Rte 34 Hwy

      Commercial real estate
      State Rte 34 Hwy, Matawan, NJ 07747
      View Details

    Similar Nearby for Sale

    • $735,000
      1,100 SF

      Prime Matawan Commercial Land

      1,100 SF Commercial Land, $735,000
      260 State Route 34, Matawan, NJ 07747
      View Details
    • $735,000

      Matawan Commercial Building - 4 Units

      Renovated commercial building, ample parking.
      State Route 34, Matawan, NJ 07747
      View Details
    • $120,000
      5,768 SF

      40 Main Street # A

      Retail properties • 5,768 SF
      40 Main St, Matawan, NJ 07747
      View Details
    • Contact for pricing
      1.44 Acres

      Matawan Office Space: Prime Location

      Updated Office, Great Rent, 1.44 Acres
      Main St, Matawan, NJ 07747
      View Details
    • New
      $205,000
      Pending

      Vacant Land in Matawan, NJ

      Vacant land parcel in Matawan, New Jersey.
      39-41 Atlantic Ave, Matawan, NJ 07747
      View Details
    • $439,000

      Move-In Ready End Unit Home

      Desirable community, move-in ready, end unit with fireplace.
      65 Laurie Ct, Matawan, NJ 07747
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Matawan Commercial Land Opportunity

      Prime Matawan location, commercial land for sale or lease.
      135 Main St, Matawan, NJ 07747
      View Details
    • $1,400 /Mo

      Charming Office Space Near Train

      Bright commercial space near Matawan train station, perfect for small businesses.
      95 Main St, Matawan, NJ 07747
      View Details
    • $350 /Mo

      Downtown Matawan Office Space Available

      Office space for rent in a busy downtown location.
      171 Main St, Matawan, NJ 07747
      View Details
    • Contact for pricing
      2,412 SF

      Office Space in Matawan, NJ

      Office space available for lease in Matawan, New Jersey.
      100 Matawan Rd, Matawan, NJ 07747
      View Details
    • $11 SF/Yr
      8,500 SF

      Matawan Warehouse with Loading Docks

      8,500 SF warehouse with excellent frontage and loading docks.
      2 Johnson Ave, Matawan, NJ 07747
      View Details
    • $5,000 /Mo
      2,845 SF

      Matawan Commercial Building on Route 34

      2,845 SF standalone building suitable for retail, office, or restaurant.
      361 Rte, Matawan, NJ 07747
      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.
    591 State Route 34
    Matawan, NJ 07747
    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.