Updated Two-Level Office
For Sale
$395,000
101 Belvidere Avenue, Washington, NJ 07882
Commercial Sale, Washington Bor, NJ
Property Size2,307 SF
Lot Size0.16 Acres
Price / SF$171.22
Days on Market180
Property Features for 101 Belvidere Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
OB
Parking
5
Parking features
Garage
Lot features
Corner Lot
Standard status
Active
APN
21000220400006
Size
2,307 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
11287
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
fire alarm system
security cameras
whole-house generator
irrigation system
dedicated server room
Building Details
Year built
1890
Floors in Building
2
Flooring type
Carpet, Wood
Building materials
Wood Siding
Roof type
Asphalt
Listing Agency:
KELLER WILLIAMS REAL ESTATE · Keller Williams Realty
(908) 751-7750
Listed By:
Lance Dunn
(973) 670-7568
Added: Mar 25
Changed: Sep 17
Last Checked: Sep 20 at 3:06PM
MLS# 2661562M
Copyright © 2026 All Jersey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,307-square-foot office building provides two levels of configured workspace, including multiple private offices, open reception or office areas, and large meeting rooms. The main floor includes two separate entrances, two enclosed offices, a half bath, and a conference room with built-in counter space and cabinetry. The upper level adds three private offices, another half bath, and a conference room or office. A full basement with a concrete floor offers additional storage, while the dedicated server room supports office technology needs.
The property includes a paved off-street parking area and a garage. Building systems include forced-air heat, central air, public water, public sewer, fire and alarm systems serving both floors, security cameras, a whole-house generator, and an irrigation system. Constructed in 1890, the building features wood siding, carpet and wood flooring, and an asphalt roof. OB zoning and its office layout support professional occupancy.
The property includes a paved off-street parking area and a garage. Building systems include forced-air heat, central air, public water, public sewer, fire and alarm systems serving both floors, security cameras, a whole-house generator, and an irrigation system. Constructed in 1890, the building features wood siding, carpet and wood flooring, and an asphalt roof. OB zoning and its office layout support professional occupancy.
Key Highlights
- 2,307 SF office building with two levels of workspace
- 0.155‑acre lot in Washington Bor, Warren County, NJ
- Five private offices, multiple conference rooms, and a dedicated server room
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
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
650
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
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
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Frequently Asked Questions
What type of property is this?
Office building - Multiple private offices, conference rooms, dedicated server space, and paved off-street parking support varied professional uses.
Where is this office building located?
The property is located at 101 Belvidere Avenue 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: 2,307 SF office building with two levels of workspace; 0.155‑acre lot in Washington Bor, Warren County, NJ; Five private offices, multiple conference rooms, and a dedicated server room
