Multi-Tenant Office
New
For Sale
$14,999,999
1 Corporate Place South, Piscataway, NJ 08854
Renovated office property with technical infrastructure, medical-office capability, and long-term leased occupancy.
Property Size90,373 SF
Lot Size5.48 Acres
Price / SF$165.98
Days on Market2
Property Features for 1 Corporate Place South
General Information
Standard status
Active
Size
90,373 SF
Class
A
Total Parking Spaces
266
Lot size
5.48 Acres
Property subtype
Office
Additional Details
Highway Access
Yes
Amenities
data center capabilities
loading dock
drive-in door
floor drains
secured separate entrances
building signage
Building Details
Building Size
90,373 SF
Buildings
1
Tenancy
Multi
Listing Agency:
Sitar Realty Company - Corporate
Listed By:
Robert Bogash · License #0792604
(732) 319-4680
Source:
Sitarcompany
Added: Sep 2
Last Checked: Sep 2 at 1:03PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Sitar Realty Company - Corporate
Investment Insights
Based on property information with market context.
This multi-tenant office property contains ±90,373 SF across ±5.48 acres at 1 Corporate Place South in Piscataway. The building includes basement-level data center space, a loading dock, drive-in door, floor drains, and separately secured entrances that support technical, medical, laboratory, or light industrial functions. Medical office-approved areas are also available.
Recent work includes a full renovation of the third floor, updated bathrooms, HVAC improvements, a new roof, refreshed common areas, parking lot upgrades, and building signage. The property provides ±266 parking spaces and is positioned in the I-287 office corridor. Long-term leases contribute to stabilized occupancy, while the building’s varied infrastructure accommodates office and specialized support uses.
Recent work includes a full renovation of the third floor, updated bathrooms, HVAC improvements, a new roof, refreshed common areas, parking lot upgrades, and building signage. The property provides ±266 parking spaces and is positioned in the I-287 office corridor. Long-term leases contribute to stabilized occupancy, while the building’s varied infrastructure accommodates office and specialized support uses.
Key Highlights
- ±90,373 SF multi‑tenant office building on ±5.48 acres
- Basement‑level data center capabilities with separate secured entrances
- Loading dock, drive‑in door, and floor drains
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$1,345,618
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.97%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$26,912,360
$26.9M
Cap Rate 7%
$19,223,114
$19.2M
Cap Rate 9%
$14,951,311
$15.0M
Market Conditions
NOI Build-Up for 90,373 SF
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.
Gross rent
$2.39M $26.40/SF
− Vacancy
−$143.2K −$1.58/SF
EGI
$2.24M $24.82/SF
− OpEx
−$897.1K −$9.93/SF
NOI
$1.35M $14.89/SF
Area
Middlesex County, NJ
Vacancy
6.00%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$26,912,360
Cap Rate 7%
$19,223,114
Cap Rate 9%
$14,951,311
Alternative Uses
Best Use
Office B
$19.75M
$17.28M – $23.05M
NOI $1,382,707 @ 7.0% cap · market cap 9.22%
Second Best
Healthcare Medical
$19.22M
$16.82M – $22.43M
NOI $1,345,618 @ 7.0% cap · market cap 8.97%
Theoretical Best
Office A
$23.60M
$20.65M – $27.53M
NOI $1,651,874 @ 7.0% cap · market cap 11.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
418
Businesses Nearby
Explore this area
Business Placement
Demographics for 08854, NJ
60,545
Population
18,069
Households
3.4
Avg Household Size
34
Median Age
50%
College-Educated
92%
High-School Grad
18.9 sq mi
ZIP Area
3,203
Density / Sq Mi
$126,331
Median Household Income
$42,397
Median Earnings
$1,929
Median Rent
$423,900
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Renovated office property with technical infrastructure, medical-office capability, and long-term leased occupancy.
Where is this office building located?
The property is located at 1 Corporate Place South Piscataway, NJ.
What is the asking price?
The asking price for this property is $14,999,999.
What are key features of this property?
This property features: ±90,373 SF multi‑tenant office building on ±5.48 acres; Basement‑level data center capabilities with separate secured entrances; Loading dock, drive‑in door, and floor drains
