Franklin Commercial Medical/Professional
1553 Route 27 Franklin, NJ 08873
1553 Route 27, Franklin, NJ, 08873
$787,500
For Sale
$787,500
COMMERCIAL - Franklin, NJ
Property Size3,500 SF
Price / SF$225
Days on Market138
Property Features for 1553 Route 27
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Parking features
- Parking Lot
- Standard status
- Active
- APN
- 08 00394- 13-00083
- Size
- 3,500 SF
Utilities
- Sewer type
- Public Sewer
- Water source
- Public
Building Details
- Floors in Building
- 1
Listing Agency
Sitar Realty Company
(732) 449-2000
503 Washington Blvd, Iselin, NJ
Listed by
Luan Kichen
(732) 449-2000
Added: Mar 2 Checked: Jul 18 at 3:06 pm
MLS# 22605494
Copyright © 2026 More MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This commercial property in Franklin, NJ, offers a 3,500-square-foot space suitable for medical or professional use. The layout includes a large reception area with a spacious waiting area, six exam rooms equipped with plumbing, and three consultation rooms. A private physician's office is also present. The property features two separate entrances, one for the physician and one for patients. Additional amenities include a laboratory, kitchen, and utility closets. There are four private ADA-compliant restrooms. The property is equipped with a fire sprinkler system and benefits from a strong mix of medical and professional tenants. Ample parking is available. Recent upgrades include a brand new water heater and a two-zone HVAC system, both less than one year old. Common Area Maintenance (CAM) is approximately $480 per month, covering water, snow removal, and common cleaning. Property taxes are $10,300 for the year 2025.
Key Highlights
- Six exam rooms with plumbing, consultation rooms, private physician office, laboratory, kitchen and utility closets.
- Two separate entrances (private physician entrance & patient entrance).
- Brand new water heater and two‑zone HVAC (less than 1 year old).
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $105.0k | $30.00 |
| − Vacancy | −$33.6k | −$9.60 |
| EGI | $71.4k | $20.40 |
| − OpEx | −$17.9k | −$5.10 |
| NOI | $53.6k | $15.30 |
3,500 SF · lease $30.00/SF/yr · vacancy 32.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$765.0K
$669.4K – $892.5K
NOI $53,550 @ 7.0% cap · market cap 6.80%
Second Best
Healthcare Medical
$744.5K
$651.4K – $868.6K
NOI $52,114 @ 7.0% cap · market cap 6.62%
Theoretical Best
Office A
$913.9K
$799.7K – $1.07M
NOI $63,974 @ 7.0% cap · market cap 8.12%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Medical Office Space
Similar For Sale Nearby
Similar Off Market Nearby
- Faith Veterinary Clinic Services — 475 Demott Ln, Somerset, NJ 08873
FAQs
What type of property is this?
Medical Office Space - Spacious medical/professional office with ample parking and modern amenities.
Where is this medical office space located?
The property is located at 1553 Route 27 Franklin, NJ.
What is the asking price?
The asking price for this property is $787,500.
What are key features of this property?
This property features: Six exam rooms with plumbing, consultation rooms, private physician office, laboratory, kitchen and utility closets.; Two separate entrances (private physician entrance & patient entrance).; Brand new water heater and two‑zone HVAC (less than 1 year old).
