Medical Office Condo with Exam
For Sale
$188,000
1024 Park Ave #4, Plainfield, NJ 07060
A dedicated operating room complements a multi-room clinical layout.
Property Size1,140 SF
Price / SF$164.91
Days on Market136
Property Features for 1024 Park Ave #4
General Information
Standard status
Active
Size
1,140 SF
Property subtype
Commercial
Zoning
PO-1
Additional Details
Floor
lower-level
Building Details
Building Size
1,140 SF
Year Built
1967
Stories
2
Units
1
Listing Agency:
Bhhs Jordan Baris Realty
(973) 994-1234
Listed By:
Maria Morrison Heningburg
(973) 698-3308
Source:
Cammarotarealestate
Added: Jun 9
Changed: Oct 22
Last Checked: Oct 22 at 2:18PM
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 Jordan Baris Realty
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Investment Insights
Based on property information with market context.
This 1,140-square-foot medical condo occupies a lower-level position and was built in 1967. Its layout includes four exam rooms, a dedicated operating room, two lavatories, and a reception area. The property is zoned PO-1 and located at 1024 Park Ave #4 in Plainfield, New Jersey.
The maintenance fee includes heat, water, garbage service, snow removal, and lawn care. Rear parking is available for patients and staff.
The maintenance fee includes heat, water, garbage service, snow removal, and lawn care. Rear parking is available for patients and staff.
Key Highlights
- 1,140‑square‑foot lower‑level medical condo
- Four exam rooms and a dedicated operating room
- Two lavatories and a reception area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,974
Cap Rate
9.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$339,480
$339.5K
Cap Rate 7%
$242,486
$242.5K
Cap Rate 9%
$188,600
$188.6K
Market Conditions
NOI Build-Up for 1,140 SF
Gross rent
$30.1K $26.40/SF
− Vacancy
−$1.8K −$1.58/SF
EGI
$28.3K $24.82/SF
− OpEx
−$11.3K −$9.93/SF
NOI
$17.0K $14.89/SF
Area
Somerset County, NJ
Vacancy
6.00%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$339,480
Cap Rate 7%
$242,486
Cap Rate 9%
$188,600
Alternative Uses
Best Use
Office B
$249.2K
$218.0K – $290.7K
NOI $17,442 @ 7.0% cap · market cap 9.28%
Second Best
Healthcare Medical
$242.5K
$212.2K – $282.9K
NOI $16,974 @ 7.0% cap · market cap 9.03%
Theoretical Best
Office A
$297.7K
$260.5K – $347.3K
NOI $20,837 @ 7.0% cap · market cap 11.08%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
775
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 07060, NJ
48,423
Population
16,154
Households
3
Avg Household Size
35
Median Age
22%
College-Educated
74%
High-School Grad
5.0 sq mi
ZIP Area
9,685
Density / Sq Mi
$72,882
Median Household Income
$32,867
Median Earnings
$1,629
Median Rent
$369,400
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Medical Office Space - A dedicated operating room complements a multi-room clinical layout.
Where is this medical office space located?
The property is located at 1024 Park Ave #4 Plainfield, NJ.
What is the asking price?
The asking price for this property is $188,000.
What are key features of this property?
This property features: 1,140‑square‑foot lower‑level medical condo; Four exam rooms and a dedicated operating room; Two lavatories and a reception area
