Downtown Verona Office
10 S Prospect St Verona, NJ 07044
10 S Prospect St, Verona, NJ, 07044
$1,250,000
For Sale
$1,250,000
6,000 SF office space in downtown Verona.
Property Size6,000 SF
Lot Size0.23 Acres
Price / SF$208.33
Days on Market154
Property Features for 10 S Prospect St
General Information
- Standard status
- Active
- Size
- 6,000 SF
- Lot size
- 0.23 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1920
Listing Agency
BHHS FOX & ROACH
(973) 992-6363
Listed by
ROMAN DRUKAROV
Source
Corcoran
Added: Feb 16 Updated: Jul 10 at 3:47 pm Checked: Jul 19 at 4:18 am
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 BHHS FOX & ROACH
Investment Insights
Based on property information with market context.
Available for sale is a commercial property featuring approximately 6,000 square feet of usable office space, situated in downtown Verona. The building includes 23 rooms and workstations. Currently owner-occupied, the third floor is built out as an apartment but can be converted into additional office space. This property presents an opportunity for an owner/user, investor, or for conversion into co-working or single office rentals. The property's taxes have been reassessed to $21,722.73.
Key Highlights
- Almost 6,000sf of usable office space in downtown Verona.
- Reassessed taxes significantly reduced to $21,722.73.
- Features 23 rooms and work stations.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $180.0k | $30.00 |
| − Vacancy | −$57.6k | −$9.60 |
| EGI | $122.4k | $20.40 |
| − OpEx | −$30.6k | −$5.10 |
| NOI | $91.8k | $15.30 |
6,000 SF · lease $30.00/SF/yr · vacancy 32.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.31M
$1.15M – $1.53M
NOI $91,800 @ 7.0% cap · market cap 7.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.57M
$1.37M – $1.83M
NOI $109,670 @ 7.0% cap · market cap 8.77%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Bannon, Rawding, McDonald ...
Law Firm
Plaia James Jude
Law Firm
Richard Chisholm ESQ
Law Firm
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FAQs
What type of property is this?
Office building - 6,000 SF office space in downtown Verona.
Where is this office building located?
The property is located at 10 S Prospect St Verona, NJ.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Almost 6,000sf of usable office space in downtown Verona.; Reassessed taxes significantly reduced to $21,722.73.; Features 23 rooms and work stations.
