Spa Property with
For Sale
$1,300,000
105 SOUTH AVE Unit 2, Cranford, NJ 07016
Commercial wellness facility with a separate multi-level residential component and private entrances.
Property Size3,800 SF
Price / SF$342.11
Days on Market182
Property Features for 105 SOUTH AVE Unit 2
General Information
Standard status
Active
Size
3,800 SF
Property subtype
General Commercial
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$26,075
Amenities
Central Air
3
Tile, Laminate, Wood
COMMERCIAL
Parking.
8 Parking Spaces. Lot.
11573 SF
Central Business District.
Building Details
Year Built
2008
Listing Agency:
COLDWELL BANKER REALTY
(973) 376-5200
Listed By:
JOSEPH SIGNORELLA
Source:
Xome
Added: Mar 2
Changed: Aug 30
Last Checked: Aug 30 at 3:51PM
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 COLDWELL BANKER REALTY
Investment Insights
Based on property information with market context.
This 3,800-square-foot commercial spa property, built in 2008, combines wellness-oriented space with a separate multi-floor townhome at the rear. The building includes Central Air, tile, laminate, and wood finishes, along with multiple open areas arranged for spa and relaxation services. The townhome has its own entrance and includes a stone balcony suited to outdoor dining or entertaining.
Located at 105 SOUTH AVE Unit 2 in Cranford, the property sits within the Central Business District. The site includes an 11,573-square-foot lot and eight parking spaces. Separate access points distinguish the commercial and residential components, supporting a clearly divided layout for the two uses.
Located at 105 SOUTH AVE Unit 2 in Cranford, the property sits within the Central Business District. The site includes an 11,573-square-foot lot and eight parking spaces. Separate access points distinguish the commercial and residential components, supporting a clearly divided layout for the two uses.
Key Highlights
- 3,800 SF spa and wellness property with a separate multi‑floor townhome
- 11,573 SF lot in the Central Business District
- Eight parking spaces included on site
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
$50,160
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
3.86%
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%
$1,003,200
$1.0M
Cap Rate 7%
$716,571
$716.6K
Cap Rate 9%
$557,333
$557.3K
Market Conditions
NOI Build-Up for 3,800 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
$91.2K $24.00/SF
− Vacancy
−$10.9K −$2.88/SF
EGI
$80.3K $21.12/SF
− OpEx
−$30.1K −$7.92/SF
NOI
$50.2K $13.20/SF
Area
Union County, NJ
Vacancy
12.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,003,200
Cap Rate 7%
$716,571
Cap Rate 9%
$557,333
Alternative Uses
Best Use
Mixed Use
$716.6K
$627.0K – $836.0K
NOI $50,160 @ 7.0% cap · market cap 3.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$992.3K
$868.2K – $1.16M
NOI $69,458 @ 7.0% cap · market cap 5.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,443
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 07016, NJ
23,827
Population
9,619
Households
2.5
Avg Household Size
42
Median Age
65%
College-Educated
97%
High-School Grad
4.7 sq mi
ZIP Area
5,070
Density / Sq Mi
$148,629
Median Household Income
$84,980
Median Earnings
$2,116
Median Rent
$635,800
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Jerry Reidy LAc — 332 North Ave, Garwood, NJ 07027
- Integrative energy studios — 252 North Ave, Garwood, NJ 07027
- Westfield Herbs & Acupuncture — 1 walnut ave, cranford, nj 07016
- Sana Acupuncture & Wellness Center — 118 N Ave W, Cranford, NJ 07016
- Cranford Acupuncture — 19 Holly St, Cranford, NJ 07016
Frequently Asked Questions
What type of property is this?
Spa & wellness property - Commercial wellness facility with a separate multi-level residential component and private entrances.
Where is this spa & wellness property located?
The property is located at 105 SOUTH AVE Unit 2 Cranford, NJ.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 3,800 SF spa and wellness property with a separate multi‑floor townhome; 11,573 SF lot in the Central Business District; Eight parking spaces included on site
