Renovated Third-Floor Office
For Sale
Contact for pricing
107 South Ave, Cranford, NJ 07016
Bright professional workspace with rear parking near downtown shops, restaurants, and transportation.
Property Size1,100 SF
Price / SF$1.82
Days on Market83
Property Features for 107 South Ave
General Information
Standard status
Active
Size
1,100 SF
Additional Details
Floor
3
Building Details
Year Built
1966
Listing Agency:
BHGRE ELITE
Listed By:
CHRISTIAN COBO · License #285389
(908) 316-8530
Source:
Goldstandardrealty
Added: Jul 26
Changed: Oct 12
Last Checked: Oct 7 at 4:23PM
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 BHGRE ELITE
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Investment Insights
Based on property information with market context.
This 1,100 sq. ft. office unit occupies the third floor of a well-maintained building and has been renovated for professional use. Bright interior space supports a range of office configurations within a clean, established setting.
The property is located at 107 South Ave in Cranford Twp, NJ 07016, in the downtown area. Quiet rear parking adds convenience for occupants and visitors, while shops, restaurants, and transportation are nearby.
The property is located at 107 South Ave in Cranford Twp, NJ 07016, in the downtown area. Quiet rear parking adds convenience for occupants and visitors, while shops, restaurants, and transportation are nearby.
Key Highlights
- Renovated 1,100 sq. ft. third‑floor office unit
- Located at 107 South Ave, Cranford Twp, NJ 07016
- Quiet rear parking available
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,830
Suggested Prices Based on Cap Rates
Cap Rate 5%
$336,600
$336.6K
Cap Rate 7%
$240,429
$240.4K
Cap Rate 9%
$187,000
$187.0K
Market Conditions
NOI Build-Up for 1,100 SF
Gross rent
$33.0K $30.00/SF
− Vacancy
−$10.6K −$9.60/SF
EGI
$22.4K $20.40/SF
− OpEx
−$5.6K −$5.10/SF
NOI
$16.8K $15.30/SF
Area
Union 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%
$336,600
Cap Rate 7%
$240,429
Cap Rate 9%
$187,000
Alternative Uses
Best Use
Office B
$240.4K
$210.4K – $280.5K
NOI $16,830 @ 7.0% cap · market cap 841.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$287.2K
$251.3K – $335.1K
NOI $20,106 @ 7.0% cap · market cap 1,005.30%
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
1,443
Businesses Nearby
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
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office units - Bright professional workspace with rear parking near downtown shops, restaurants, and transportation.
Where is this office units located?
The property is located at 107 South Ave Cranford, NJ.
What are key features of this property?
This property features: Renovated 1,100 sq. ft. third‑floor office unit; Located at 107 South Ave, Cranford Twp, NJ 07016; Quiet rear parking available
