For Sale
Contact for pricing
1030 park Avenue, Plainfield, NJ 07060
Medical Office Space
Property Size1,200 SF
Price / SF$270.83
Days on Market991
Property Features for 1030 park Avenue
General Information
Standard status
Active
Size
1,200 SF
Property subtype
Office
Listing Agency:
VRI HOMES
Listed By:
STEVEN CAPUTI · License #9033268
(800) 531-2885
Source:
Crexi
Added: Jan 29, 2024
Changed: Oct 7
Last Checked: Oct 16 at 7:43AM
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 VRI HOMES
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Investment Insights
Based on property information with market context.
Key Highlights
- Turn‑key dentist office ready for immediate operation.
- Includes 1200 sq ft of the building (Units 7A and 7B).
- Equipped with 3 dentist chairs in private offices.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,360
Cap Rate
5.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$367,200
$367.2K
Cap Rate 7%
$262,286
$262.3K
Cap Rate 9%
$204,000
$204.0K
Market Conditions
NOI Build-Up for 1,200 SF
Gross rent
$36.0K $30.00/SF
− Vacancy
−$11.5K −$9.60/SF
EGI
$24.5K $20.40/SF
− OpEx
−$6.1K −$5.10/SF
NOI
$18.4K $15.30/SF
Area
Somerset 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%
$367,200
Cap Rate 7%
$262,286
Cap Rate 9%
$204,000
Alternative Uses
Best Use
Office B
$262.3K
$229.5K – $306.0K
NOI $18,360 @ 7.0% cap · market cap 5.65%
Second Best
Healthcare Medical
$255.3K
$223.4K – $297.8K
NOI $17,868 @ 7.0% cap · market cap 5.50%
Theoretical Best
Office A
$313.3K
$274.2K – $365.6K
NOI $21,934 @ 7.0% cap · market cap 6.75%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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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
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
Frequently Asked Questions
Where is this medical office space located?
The property is located at 1030 park Avenue Plainfield, NJ.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Turn‑key dentist office ready for immediate operation.; Includes 1200 sq ft of the building (Units 7A and 7B).; Equipped with 3 dentist chairs in private offices.
