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    The Largest CRE Database in the US with Over 1 Million Listings

    3055 State Rte 27 Rte Franklin Park, NJ 08823

    Sponsored
    For Sale
    $1,599,000

    MultiFamily - Franklin Twsp, NJ

    Property size:
    4,483 SF
    Lot size:
    0.45 Acres
    Days on Market:
    84
    Last Refresh:
    Feb 11 at 11:06 pm

    Property Features for 3055 State Rte 27 Rte

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Interior features
    Refrigeration, See Remarks, Carpeting, Elevator
    Accessibility
    Accessible Elevator Installed
    Size
    4,483 SF
    Lot size
    0.45 Acres

    Utilities

    Heating system
    Forced Air, See Remarks (Heating)
    Cooling system
    Central Air

    Building Details

    Year built
    1970
    Flooring type
    Carpet, Tile, Wood
    Roof type
    Asphalt
    Architectural style
    Other

    We can help!

    Listing Contact
    Nicolas DiMeglio
    Nicolas DiMeglio

    Berkshire Hathaway HomeServices Fox & Roach, Realtors

    Listing agent Nicolas DiMeglio (609) 924-1600

    Listing date Nov 20, 2025

    MLS# 2514610R Listing URL

    Copyright © 2026 Berkshire Hathaway HomeServices Fox & Roach, Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Pristine Office/Medical Building For Sale

    This 4,483 square foot office/medical building presents great opportunities. Currently partially used for medical offices, the building is in pristine operating condition and ready for medical or other office use. The first floor offers the possibility of 2 separate office suites, and the upstairs level offers the possibility of 2 additional office suites for separate tenants. Each floor has separate bathrooms. Features include reception/waiting rooms, 3 exam rooms, and an executive office with a private bathroom/shower. A fireproof/bombproof file room, formerly a bank vault, is also present. Additional features include a side entrance for a dedicated second-floor tenant, an emergency backup generator, 3-zone state-of-the-art HVAC systems, and 2 hot water heaters, one of which is tankless. A comprehensive security system with locking doors, Nest cameras throughout the facility, and an electric vehicle charging station are also included. The 0.4536-acre property is conveniently located close to Princeton, New Brunswick, the NJ Turnpike, and New York.
    Location Intelligence

    Current Use by Public Records

    Medical offices

    Map

    City
    Franklin Park
    County
    Middlesex
    State
    New Jersey
    Longitude
    -74.536717
    Latitude
    40.438354

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    FAQs

    What type of property is this?
    Medical office - 4,483 SF office/medical building in pristine condition, ready for occupancy.
    Where is this medical office located?
    The property is located at 3055 State Rte 27 Rte Franklin Park, NJ.
    What is the asking price?
    The asking price for this property is $1,599,000.
    What are key features of this property?
    This property features: - Pristine 4500+- sq ft office/medical building suitable for immediate occupancy.; - Potential for four separate office suites (two per floor) with separate bathrooms on each floor.; - Equipped with specialized features: reception/waiting rooms, exam rooms, executive office with private bathroom/shower, and a former bank vault.
    (732) 828-9403
    Request Owner's contact information
    3055 State Rte 27 Rte Franklin Park, NJ 08823
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    Franklin Park, NJ 08823
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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
    3055 State Rte 27 Rte Franklin Park, NJ 08823
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    We can help!
    Listing Contact
    Nicolas DiMeglio
    Nicolas DiMeglio
    Real Estate License ID: SB8836826
    (732) 828-9403
    Learn more
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