Two-Story Medical Office
For Sale
$4,950,000
1100 CENTENNIAL AVE, Piscataway, NJ 08854
Two-story medical office building with 1 elevator, ample parking, and a roof replacement completed in 2022.
Property Size16,635 SF
Lot Size1.42 Acres
Price / SF$297.57
Days on Market354
Property Features for 1100 CENTENNIAL AVE
General Information
Standard status
Active
Size
16,635 SF
Total Parking Spaces
82
Lot size
1.42 Acres
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$55,584
Amenities
elevator
Central Air
3
Industrial
Parking.
Driveway, Lot.
1.4200
Central Business District, Highway Access.
Building Details
Year Built
2003
Stories
2
Tenancy
Multi
Listing Agency:
THE AGENCY ONE ROCK
(201) 328-5555
Listed By:
JIN PARK
(201) 328-5555
Source:
Xome
Added: Aug 21, 2025
Changed: Aug 8
Last Checked: Aug 8 at 3:24AM
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 THE AGENCY ONE ROCK
Investment Insights
Based on property information with market context.
This two-story medical office building is offered for sale on 1.42 acres. Built in 2003, the property totals 98,226 SF per floor for an overall building size of 196,452 SF. The tenancy mix includes a dentist, eye doctor, urgent care, ob/gyn, allergy, and an attorney, with one current vacancy totaling 2,096 SF.
The building provides 82 parking spaces and includes 1 elevator. It is located about 6 miles from St. Peter’s University Hospital and approximately 8 miles to JFK Medical Center. A new roof was installed in 2022.
The property’s current configuration supports multiple medical and professional uses within a single, vertically oriented office building.
The building provides 82 parking spaces and includes 1 elevator. It is located about 6 miles from St. Peter’s University Hospital and approximately 8 miles to JFK Medical Center. A new roof was installed in 2022.
The property’s current configuration supports multiple medical and professional uses within a single, vertically oriented office building.
Key Highlights
- Two‑story medical building built in 2003 on 1.42 acres
- 16,452 SF total building area with 1 elevator
- 82 parking spaces plus driveway and parking included
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
$254,516
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
5.14%
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%
$5,090,320
$5.1M
Cap Rate 7%
$3,635,943
$3.6M
Cap Rate 9%
$2,827,956
$2.8M
Market Conditions
NOI Build-Up for 16,635 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
$499.1K $30.00/SF
− Vacancy
−$159.7K −$9.60/SF
EGI
$339.4K $20.40/SF
− OpEx
−$84.8K −$5.10/SF
NOI
$254.5K $15.30/SF
Area
Middlesex 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%
$5,090,320
Cap Rate 7%
$3,635,943
Cap Rate 9%
$2,827,956
Alternative Uses
Best Use
Office B
$3.64M
$3.18M – $4.24M
NOI $254,516 @ 7.0% cap · market cap 5.14%
Second Best
Healthcare Medical
$3.54M
$3.10M – $4.13M
NOI $247,688 @ 7.0% cap · market cap 5.00%
Theoretical Best
Office A
$4.34M
$3.80M – $5.07M
NOI $304,061 @ 7.0% cap · market cap 6.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
562
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 08854, NJ
60,545
Population
18,069
Households
3.4
Avg Household Size
34
Median Age
50%
College-Educated
92%
High-School Grad
18.9 sq mi
ZIP Area
3,203
Density / Sq Mi
$126,331
Median Household Income
$42,397
Median Earnings
$1,929
Median Rent
$423,900
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - Two-story medical office building with 1 elevator, ample parking, and a roof replacement completed in 2022.
Where is this medical office space located?
The property is located at 1100 CENTENNIAL AVE Piscataway, NJ.
What is the asking price?
The asking price for this property is $4,950,000.
What are key features of this property?
This property features: Two‑story medical building built in 2003 on 1.42 acres; 16,452 SF total building area with 1 elevator; 82 parking spaces plus driveway and parking included
