Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    349 Us Highway 206 Hillsborough, NJ 08844

    View on Map
    For Sale
    $3,300,000

    Commercial - Hillsborough Twp., NJ

    Property size:
    14,376 SF
    Lot size:
    2.37 Acres
    Added:
    Feb 14, 2025
    Days on Market:
    411
    Last Refresh:
    Apr 1 at 3:06 am

    Property Features for 349 Us Highway 206

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    COMMERCIAL
    Rooms
    Basement
    Parking features
    Parking Lot
    Basement Y/N
    1
    Standard status
    Active
    Size
    14,376 SF
    Lot size
    2.37 Acres

    Taxes and HOA fees

    TaxYear
    2024
    TaxAnnualAmount
    41837

    Building Details

    Year built
    1979
    Floors in Building
    1
    Number of units
    14
    Flooring type
    Carpet, Laminate, Linoleum, Vinyl
    Building materials
    Vinyl Siding
    Roof type
    Asphalt, Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    KETAN THAKKER

    Listing agent KETAN THAKKER

    Listing office K T REALTY 789 HIGHWAY 202 NORTH STE 104, PLAINFIELD, NJ

    Listing date Feb 14, 2025

    MLS# 3946228 Listing URL

    Copyright © 2026 Garden State MLS, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Hillsborough Office Building For Sale

    This 14,376 sq ft office building is situated in a prime location. The property features nine distinct office units, each equipped with its own HVAC system and separate electric meter. Water is supplied through a common meter. The property includes 62 parking spaces. Approximately half of the building has a basement. The surrounding area includes RWJ Medicor Cardiology, Lowes, Home Goods, WEIS, and Kohls. The property is zoned for commercial use and is located in Hillsborough Twp., Somerset County, NJ. The lot size is 2.37 acres.
    Location Intelligence

    Current Use by Public Records

    Office buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Hillsborough
    County
    Somerset
    State
    New Jersey
    Longitude
    -74.63176
    Latitude
    40.51234

    Nearby Similar for Sale

    • $3,000

      Hillsborough Retail Space in Triangle Square

      1,300 sq ft retail space off Route 206.
      281 Triangle Rd, Hillsborough Twp., NJ 08844
      View Details
    • $299,000
      860 SF

      Boutique Professional Office Condo

      860 SF office condo in Hillsborough Twp., NJ.
      491 Amwell Rd, Hillsborough Twp., NJ 08844-3407
      View Details
    • $805,000

      Three-Family Home on Expansive Land

      Legal three-family home with historic charm and modern convenience.
      848 River Rd, Hillsborough Twp., NJ 08844-4096
      View Details
    • $499,800
      2,350 SF

      Hillsborough Industrial Condo For Sale

      2,350 SF industrial condo with office space for sale.
      14 Ilene Ct, Hillsborough Twp., NJ 08844
      View Details
    • $3,400
      2,200 SF

      Hillsborough Twp. Office Space

      2200 sqft office space with 10 rooms, available 2025.
      856 Us Highway 206, Hillsborough Twp., NJ 08844
      View Details
    • $299,000
      860 SF

      Boutique Professional Office Condo

      860 SF office condo in Hillsborough Twp., NJ for sale.
      491 Amwell Rd, Hillsborough Twp., NJ 08844
      View Details
    • $805,000

      Unique Three-Family Home on Acreage

      Legal three-family home with historic charm and modern convenience.
      848 River Rd, Hillsborough Twp., NJ 08844-4096
      View Details
    • $3,400
      2,200 SF

      Hillsborough Commercial Space Available

      2200 sq ft commercial space with multiple rooms for sale.
      856 US Highway 206 Highway, Hillsborough, NJ 08844
      View Details
    • $425,000
      2,260 SF

      Updated Office Suite For Sale

      Professional office suite with great layout in a desirable location.
      501 Omni Dr, Hillsborough Twp., NJ 08844
      View Details
    • $215,000
      1,150 SF

      Retail Property in High Traffic

      Retail property for sale in a high-traffic area.
      603 Omni Dr, Hillsborough Twp., NJ 08844
      View Details
    • $799,999
      3,808 SF

      Millstone Boro Investment Opportunity

      Investment property in Millstone Boro with owner financing available.
      1370 Millstone River Rd, Millstone Boro, NJ 08844
      View Details
    • $226,900
      1,560 SF

      Professional Office Condo For Sale

      First-floor end unit office condo in Hillsborough Township.
      404 Towne Centre Dr, Hillsborough Township, NJ 08844
      View Details

    FAQs

    What type of property is this?
    Office building - 14,376 sq ft office building in prime location.
    Where is this office building located?
    The property is located at 349 Us Highway 206 Hillsborough, NJ.
    What is the asking price?
    The asking price for this property is $3,300,000.
    What are key features of this property?
    This property features: Prime location surrounded by RWJ Medicor Cardiology, Lowes, Home Goods, WEIS & Kohls.; 14,376 sq.ft office building with 9 separate offices.; Each unit has individual HVAC and electric meter.
    (908) 462-2234
    We can help!
    Listing Contact
    KETAN THAKKER
    Learn More
    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.
    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.
    Sign Up Successful!
    You now have access to more from Realmo!