Office Space Available For
For Sale
Contact for pricing
1 Russo Place # 3, Berkeley Heights, NJ 07922
2,750 SF office space for sale in Berkeley Heights.
Property Size15,312 SF
Lot Size2.00 Acres
Price / SF$0.00
Days on Market229
Property Features for 1 Russo Place # 3
General Information
Standard status
Active
Size
15,312 SF
Lot size
2.00 Acres
Building Details
Year Built
1972
Listing Agency:
PETRA BEST REALTY LLC
Listed By:
CARMEN R. SCHLESINGER
(732) 442-1400
Source:
Goldstandardrealty
Added: Mar 5
Changed: Oct 2
Last Checked: Oct 19 at 11:16AM
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 PETRA BEST REALTY LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
A 2,750 square-foot office space is available for sale. The property is situated on a two-acre corner lot, positioned across from the YMCA and a performing arts school. Available parking is provided. Other businesses have been located in the same building for 10 to 20+ years, including an environmental consulting firm, an engineering firm, and a print center. Features include a dock entry, handicap accessibility, and a separate entrance. Water is included. Additionally, a small office space is available for rent.
Key Highlights
- High‑traffic location: Corner lot across from YMCA and performing arts school.
- Large 2,750 sq ft space suitable for various business purposes.
- Ample parking available for customers and employees.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$234,274
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,685,480
$4.7M
Cap Rate 7%
$3,346,771
$3.3M
Cap Rate 9%
$2,603,044
$2.6M
Market Conditions
NOI Build-Up for 15,312 SF
Gross rent
$459.4K $30.00/SF
− Vacancy
−$147.0K −$9.60/SF
EGI
$312.4K $20.40/SF
− OpEx
−$78.1K −$5.10/SF
NOI
$234.3K $15.30/SF
Area
Union 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%
$4,685,480
Cap Rate 7%
$3,346,771
Cap Rate 9%
$2,603,044
Alternative Uses
Best Use
Office B
$3.35M
$2.93M – $3.90M
NOI $234,274 @ 7.0% cap · market cap 780,913.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.00M
$3.50M – $4.66M
NOI $279,879 @ 7.0% cap · market cap 932,930.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
481
Businesses Nearby
Explore this area
Business Placement
Demographics for 07922, NJ
12,311
Population
4,474
Households
2.8
Avg Household Size
44
Median Age
73%
College-Educated
98%
High-School Grad
5.6 sq mi
ZIP Area
2,198
Density / Sq Mi
$179,006
Median Household Income
$107,844
Median Earnings
$1,986
Median Rent
$697,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - 2,750 SF office space for sale in Berkeley Heights.
Where is this office unit located?
The property is located at 1 Russo Place # 3 Berkeley Heights, NJ.
What are key features of this property?
This property features: High‑traffic location: Corner lot across from YMCA and performing arts school.; Large 2,750 sq ft space suitable for various business purposes.; Ample parking available for customers and employees.
