Two-Story Office Building with
For Sale
$395,000
101 Belvidere Avenue, Washington, NJ 07882
COMMERCIAL - Washington Bor, NJ
Property Size2,307 SF
Lot Size0.16 Acres
Price / SF$171.22
Days on Market142
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 and alarm systems
whole-house generator
security cameras
irrigation system
professional landscaping
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
(908) 751-7750
Added: Mar 25
Changed: Aug 4
Last Checked: Aug 13 at 4:06AM
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 two-story office building has multiple private offices on both levels, along with larger meeting and conference rooms. The first floor includes two separate entrances and features two closed-door offices, an open office/reception area, a half bath, and a conference room with counter space and built-in cabinets. An airy lobby provides access to both levels from the front porch. Upstairs includes three closed-door offices, a half bath, and a conference room/office, with a dedicated server room described as part of the building’s IT setup.
The property also includes a full basement with a concrete floor for additional storage. It’s equipped with fire and alarm systems for both floors, security cameras, a whole-house generator, and an irrigation system. There is public water and public sewer, and forced-air heating with central air cooling. Construction is wood siding with an asphalt roof.
Additional features include a paved off-street parking lot and a garage. The building was constructed in 1890 and sits on a 0.155-acre lot at 101 Belvidere Avenue, Washington Bor, NJ 07882, zoned OB.
The property also includes a full basement with a concrete floor for additional storage. It’s equipped with fire and alarm systems for both floors, security cameras, a whole-house generator, and an irrigation system. There is public water and public sewer, and forced-air heating with central air cooling. Construction is wood siding with an asphalt roof.
Additional features include a paved off-street parking lot and a garage. The building was constructed in 1890 and sits on a 0.155-acre lot at 101 Belvidere Avenue, Washington Bor, NJ 07882, zoned OB.
Key Highlights
- 0.155‑acre lot with 2,307 SF office building
- Two‑story layout with multiple private offices and meeting/conference rooms
- Dedicated server room for IT‑focused workspace
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-story office building with dedicated server room, multiple offices and conference spaces, plus whole-house generator.
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: 0.155‑acre lot with 2,307 SF office building; Two‑story layout with multiple private offices and meeting/conference rooms; Dedicated server room for IT‑focused workspace
