Medical Office Building with Three
103-105 Union St #1 2 3, Lodi, NJ 07644
For Sale
$1,050,000
Separate entrances and a mix of reception, examination, and support rooms serve the building’s three suites.
Property Size4,300 SF
Price / SF$244.19
Days on Market195
Property Features for 103-105 Union St #1 2 3
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Additional Details
Office Units
Tenant in Place
Building Details
Building Size
Year Built
Buildings
Stories
Units
Tenancy
Owner Occupied
Listing Agency:
Boulevard Realty Group LLC
(201) 777-0916
Listed By:
Lucille Calabrese
(201) 933-9903
Source:
Arcadiarealtors
Added: Apr 29
Changed: Nov 8
Last Checked: Nov 8 at 8:51AM
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 Boulevard Realty Group LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The 4,300-square-foot medical office property contains three individually accessed suites, with front and rear access. Suite 1 is occupied by an owner who practices optometry and includes reception and waiting areas, two examination rooms, an office, a lens-fitting room, and a lab. Suite 2 is occupied by a spa tenant and has a reception area, storage, three examination rooms, and 1.5 bathrooms. The vacant third suite offers a waiting area, reception desk, five additional rooms, and one bathroom.
Built in 1940 and zoned Commercial, the property also has a full basement currently used for storage. Approximately 12 parking spaces are available, with a separate entrance to the rear parking area.
Built in 1940 and zoned Commercial, the property also has a full basement currently used for storage. Approximately 12 parking spaces are available, with a separate entrance to the rear parking area.
Key Highlights
- Three separate suites, including one vacant suite
- 4,300 square feet; built in 1940
- Suite 1 includes two examination rooms, an office, a lens‑fitting room, and a lab
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$65,790
Cap Rate
6.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,315,800
$1.3M
Cap Rate 7%
$939,857
$939.9K
Cap Rate 9%
$731,000
$731.0K
Market Conditions
NOI Build-Up for 4,300 SF
Gross rent
$129.0K $30.00/SF
− Vacancy
−$41.3K −$9.60/SF
EGI
$87.7K $20.40/SF
− OpEx
−$21.9K −$5.10/SF
NOI
$65.8K $15.30/SF
Area
Bergen County, NJ
Vacancy
32.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,315,800
Cap Rate 7%
$939,857
Cap Rate 9%
$731,000
Alternative Uses
Best Use
Office B
$939.9K
$822.4K – $1.10M
NOI $65,790 @ 7.0% cap · market cap 6.27%
Second Best
Healthcare Medical
$914.6K
$800.3K – $1.07M
NOI $64,025 @ 7.0% cap · market cap 6.10%
Theoretical Best
Office A
$1.12M
$982.5K – $1.31M
NOI $78,597 @ 7.0% cap · market cap 7.49%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
3
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,306
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 07644, NJ
26,206
Population
9,864
Households
2.7
Avg Household Size
39
Median Age
28%
College-Educated
85%
High-School Grad
2.3 sq mi
ZIP Area
11,394
Density / Sq Mi
$84,570
Median Household Income
$48,142
Median Earnings
$1,675
Median Rent
$449,200
Median Home Value
Market
Average Price Trend$/SF for Medical Office Space in Bergen County, NJ
Properties on Market for Medical Office Space in Bergen County
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Separate entrances and a mix of reception, examination, and support rooms serve the building’s three suites.
Where is this medical office space located?
The property is located at 103-105 Union St #1 2 3 Lodi, NJ.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Three separate suites, including one vacant suite; 4,300 square feet; built in 1940; Suite 1 includes two examination rooms, an office, a lens‑fitting room, and a lab
