Medical Office with Exam
For Sale
$787,500
1553 Route 27, Franklin, NJ 08873
Commercial Sale, Franklin, NJ
Property Size3,500 SF
Price / SF$225
Days on Market227
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Property Features for 1553 Route 27
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Parking Lot
Directions
Strategically located near Routes 1, 287, and 440 and in close proximity to Robert Wood Johnson University Hospital and Saint Peter's University Hospital. Dense surrounding residential population with strong healthcare demand. Established medical corridor with long-term tenant stability.
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
Listed By:
Luan Kichen
(908) 902-8788
Added: Mar 2
Changed: Oct 2
Last Checked: Oct 15 at 6:06PM
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 3,500-square-foot medical office is arranged around a large reception area, waiting room, 6 exam rooms with plumbing, 3 consultation rooms, and a private physician office. The layout also includes a laboratory, kitchen, utility closets, and 4 private ADA-compliant restrooms. Separate entrances serve patients and the physician, supporting distinct access patterns within the practice.
Building systems include a brand-new water heater and two-zone HVAC installed less than 1 year ago. The property has a parking lot, fire sprinkler system, public water, and public sewer. Located at 1553 Route 27 in Franklin, NJ, the office provides an established setting for medical or professional occupancy.
Building systems include a brand-new water heater and two-zone HVAC installed less than 1 year ago. The property has a parking lot, fire sprinkler system, public water, and public sewer. Located at 1553 Route 27 in Franklin, NJ, the office provides an established setting for medical or professional occupancy.
Key Highlights
- 3,500 square feet of medical office space
- 6 exam rooms with plumbing and 3 consultation rooms
- 4 private ADA‑compliant restrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,550
Cap Rate
6.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,071,000
$1.1M
Cap Rate 7%
$765,000
$765.0K
Cap Rate 9%
$595,000
$595.0K
Market Conditions
NOI Build-Up for 3,500 SF
Gross rent
$105.0K $30.00/SF
− Vacancy
−$33.6K −$9.60/SF
EGI
$71.4K $20.40/SF
− OpEx
−$17.9K −$5.10/SF
NOI
$53.6K $15.30/SF
Area
Somerset County, NJ
Vacancy
32.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,071,000
Cap Rate 7%
$765,000
Cap Rate 9%
$595,000
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 authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
443
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 08873, NJ
55,500
Population
22,142
Households
2.5
Avg Household Size
42
Median Age
54%
College-Educated
93%
High-School Grad
32.1 sq mi
ZIP Area
1,729
Density / Sq Mi
$117,866
Median Household Income
$61,727
Median Earnings
$1,942
Median Rent
$438,600
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Medical Office Space - Configured for medical use with separate patient and physician entrances, ADA-compliant restrooms, and on-site parking.
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: 3,500 square feet of medical office space; 6 exam rooms with plumbing and 3 consultation rooms; 4 private ADA‑compliant restrooms
