Building Details

Year Built 1988

Listing Agency: BHHS FOX & ROACH

Listed By: JOHN H. CARRIERE Show Phone

Source: Thebansalteam

Added: Mar 16 Changed: Sep 4 Last Checked: Sep 6 at 10:15AM

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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 FOX & ROACH

Investment Insights

Based on property information with market context.

Located in Branchburg Township, Somerset County, this office property is available for sale. The property is accessible from 202 to Pleasant Run to Main Street to Woodfern Road. The site is located at the second entrance to the complex. Look for the real estate sign (4' x $4'). The building is the second on the left.

Key Highlights

• Located in Somerset County
• Central Air Conditioning
• Natural Gas Heating

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

$211,140

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

6.40%

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%

$4,222,800 $4.2M

Cap Rate 7%

$3,016,286 $3.0M

Cap Rate 9%

$2,346,000 $2.3M

Market Conditions

NOI Build-Up for 13,800 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

$414.0K $30.00/SF

− Vacancy

−$132.5K −$9.60/SF

EGI

$281.5K $20.40/SF

− OpEx

−$70.4K −$5.10/SF

NOI

$211.1K $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 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%

$4,222,800

Cap Rate 7%

$3,016,286

Cap Rate 9%

$2,346,000

Alternative Uses

Best Use

Office B

$3.02M

$2.64M – $3.52M (±1% cap)

NOI $211,140 @ 7.0% cap · market cap 6.40%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$3.60M

$3.15M – $4.20M (±1% cap)

NOI $252,242 @ 7.0% cap · market cap 7.64%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Joe Stala Park Park Mid State Electrical ... Electrical Service

Suggested Use

Top Pick Auto Repair Shop Hair Salon Plumbing Service Daycare Center Kitchen & Bath Showroom Law Firm

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

60

Businesses Nearby

Explore this area Business Placement

Demographics for 08853, NJ

5,445

Population

2,057

Households

2.6

Avg Household Size

46

Median Age

74%

College-Educated

98%

High-School Grad

11.4 sq mi

ZIP Area

478

Density / Sq Mi

$213,074

Median Household Income

$77,948

Median Earnings

$2,124

Median Rent

$638,700

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this office units located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Office units - Office property in Branchburg Township, Somerset County available for sale.

Where is this office units located?

The property is located at 110 Woodfern Rd Neshanic Station, NJ.

What is the asking price?

The asking price for this property is $3,300,000.

What are key features of this property?

This property features: Located in Somerset County; Central Air Conditioning; Natural Gas Heating