Medical Building For
For Sale
$4,950,000
1100 Centennial, Piscataway, NJ 08854
Two-story medical building with diverse tenants and investment potential.
Property Size16,452 SF
Lot Size1.42 Acres
Price / SF$300.88
Days on Market187
Property Features for 1100 Centennial
General Information
Standard status
Active
Size
16,452 SF
Lot size
1.42 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$51,562
Amenities
Central Air Heating
Gas Heating
Hot Air Heating
Listing Agency:
CHRISTIE'S INTERNATIONAL REAL ESTATE GROUP-FORT LEE
(201) 346-0200
Listed By:
JIN PARK
Source:
Corcoran
Added: Feb 10
Changed: Aug 16
Last Checked: Aug 16 at 6:12AM
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 CHRISTIE'S INTERNATIONAL REAL ESTATE GROUP-FORT LEE
Investment Insights
Based on property information with market context.
This two-story medical building, constructed in 2003, is available for sale. The building has a total area of 16,452 square feet, with 8,226 square feet on each floor, and is situated on a 1.42-acre lot. The property features an elevator and 82 parking spaces. The tenant mix includes a dentist, eye doctor, urgent care facility, Ob-Gyn practice, allergy specialist, and an attorney. Currently, there is one vacancy consisting of 2,096 square feet. The building is located 6 miles from Saint Peter's University Hospital and 8 miles from JFK Medical Center. A new roof was installed in 2022.
Key Highlights
- High‑demand medical building with diverse tenant mix including Dentist, Eye Doctor, Urgent Care, and more.
- Significant income potential with existing tenants and a 2,096 SF vacancy to lease.
- Ample parking with 82 spaces.
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
$244,964
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
4.95%
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%
$4,899,280
$4.9M
Cap Rate 7%
$3,499,486
$3.5M
Cap Rate 9%
$2,721,822
$2.7M
Market Conditions
NOI Build-Up for 16,452 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
$434.3K $26.40/SF
− Vacancy
−$26.1K −$1.58/SF
EGI
$408.3K $24.82/SF
− OpEx
−$163.3K −$9.93/SF
NOI
$245.0K $14.89/SF
Area
Middlesex County, NJ
Vacancy
6.00%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
40.00%
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%
$4,899,280
Cap Rate 7%
$3,499,486
Cap Rate 9%
$2,721,822
Alternative Uses
Best Use
Healthcare Medical
$3.50M
$3.06M – $4.08M
NOI $244,964 @ 7.0% cap · market cap 4.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.30M
$3.76M – $5.01M
NOI $300,716 @ 7.0% cap · market cap 6.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
562
Businesses Nearby
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical center - Two-story medical building with diverse tenants and investment potential.
Where is this medical center located?
The property is located at 1100 Centennial 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: High‑demand medical building with diverse tenant mix including Dentist, Eye Doctor, Urgent Care, and more.; Significant income potential with existing tenants and a 2,096 SF vacancy to lease.; Ample parking with 82 spaces.
