Meticulously Maintained Office
For Sale
$395,000
101 Belvidere Ave, Washington, NJ 07882
Two-level office building with modern updates and off-street parking.
Property Size2,307 SF
Lot Size0.15 Acres
Price / SF$171.22
Days on Market143
Property Features for 101 Belvidere Ave
General Information
Standard status
Active
Size
2,307 SF
Lot size
0.15 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$11,903
Amenities
Central air
Asphalt Shingle Roof
2 Units Cooling
2 Units Heating
Blacktop Driveway
Central Air Cooling
Corner
Forced Hot Air Heating
Level Lot
Off-Street Parking
Open Lot
Parking Lot-Exclusive
Building Details
Year Built
1890
Listing Agency:
KELLER WILLIAMS REAL ESTATE
(908) 751-7750
Listed By:
MICHAEL DELL ELBA
Source:
Corcoran
Added: Mar 24
Changed: Aug 10
Last Checked: Aug 13 at 6:21AM
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 KELLER WILLIAMS REAL ESTATE
Investment Insights
Based on property information with market context.
This meticulously maintained, two-level office building is located in Washington. Modern updates complement its classic craftsmanship. The building features multiple office spaces and large meeting/conference rooms on each level. A dedicated server room is included. The main floor has two separate entrances. One entrance on the side of the building leads to two closed-door office spaces, an open office/receptionist area, a half bath, and a large meeting/conference room with counterspace and cabinets. An entrance at the front porch provides access to both levels through a lobby. The upper level includes three closed-door office spaces, a half bath, and a conference room/office. A full basement with a concrete floor provides additional storage. A paved off-street parking lot is available. The building is equipped with high-end fire and alarm systems for both floors, a whole-house generator, and security cameras. An irrigation system maintains the landscape. The property is suitable for professionals such as accountants, attorneys, financial advisors, engineers, and therapists. The building has architectural and mechanical updates, professional landscaping, and is in move-in condition. The property size is 2307 square feet.
Key Highlights
- Rare off‑street paved parking lot in downtown Washington.
- Two‑level building with multiple office spaces and large meeting/conference rooms.
- Two separate entrances on the main floor.
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
$36,314
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
9.19%
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%
$726,280
$726.3K
Cap Rate 7%
$518,771
$518.8K
Cap Rate 9%
$403,489
$403.5K
Market Conditions
NOI Build-Up for 2,307 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
$60.9K $26.40/SF
− Vacancy
−$12.5K −$5.41/SF
EGI
$48.4K $20.99/SF
− OpEx
−$12.1K −$5.25/SF
NOI
$36.3K $15.74/SF
Area
Warren County, NJ
Vacancy
20.50%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
25.00%
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%
$726,280
Cap Rate 7%
$518,771
Cap Rate 9%
$403,489
Alternative Uses
Best Use
Office B
$518.8K
$453.9K – $605.2K
NOI $36,314 @ 7.0% cap · market cap 9.19%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$870.4K
$761.6K – $1.02M
NOI $60,926 @ 7.0% cap · market cap 15.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
640
Businesses Nearby
Explore this area
Business Placement
Demographics for 07882, NJ
14,971
Population
6,290
Households
2.4
Avg Household Size
44
Median Age
38%
College-Educated
95%
High-School Grad
31.6 sq mi
ZIP Area
474
Density / Sq Mi
$100,852
Median Household Income
$55,316
Median Earnings
$1,411
Median Rent
$333,800
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 - Two-level office building with modern updates and off-street parking.
Where is this office building located?
The property is located at 101 Belvidere Ave Washington, NJ.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Rare off‑street paved parking lot in downtown Washington.; Two‑level building with multiple office spaces and large meeting/conference rooms.; Two separate entrances on the main floor.
