Three-Story Medical Office
For Sale
$1,250,000
114 S EUCLID AVE, Westfield, NJ 07090
Three-story professional building with a full basement and parking lot on a quarter-acre lot.
Property Size3,200 SF
Lot Size0.25 Acres
Price / SF$390.63
Days on Market280
Property Features for 114 S EUCLID AVE
General Information
Standard status
Active
Size
3,200 SF
Lot size
0.25 Acres
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$17,801
Amenities
Central Air
3
Carpet
Asphalt Shingle
professional
Parking.
8 Parking Spaces. 1 Car, Off Street, Lot.
Level
60X130, 60X130
Storage Area, Freestanding. Central Business District, Level.
Building Details
Stories
3
Listing Agency:
COLDWELL BANKER REALTY
(908) 233-5555
Listed By:
JOHN CLARK WILEY
Source:
Xome
Added: Nov 9, 2025
Changed: Aug 12
Last Checked: Aug 16 at 3:30AM
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 three-story professional building includes a full basement and an on-site parking lot on a quarter-acre lot. The first floor is configured as a medical suite. The second level features four large offices and a lavatory. The third floor offers vaulted ceilings and can serve as a conference room or additional work space.
The property is in a professional zone within Westfield, and the entire building can be delivered vacant, supporting an owner-user or multi-suite plan.
With its multi-level office and medical suite layout, the building is designed to accommodate a range of professional uses across floors.
The property is in a professional zone within Westfield, and the entire building can be delivered vacant, supporting an owner-user or multi-suite plan.
With its multi-level office and medical suite layout, the building is designed to accommodate a range of professional uses across floors.
Key Highlights
- Three‑story professional building with full basement and off‑street parking on a quarter‑acre lot
- Zoned professional; located in the Central Business District on a level lot
- Parking for 8 vehicles; includes 1‑car off‑street space
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
$48,960
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
3.92%
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%
$979,200
$979.2K
Cap Rate 7%
$699,429
$699.4K
Cap Rate 9%
$544,000
$544.0K
Market Conditions
NOI Build-Up for 3,200 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
$96.0K $30.00/SF
− Vacancy
−$30.7K −$9.60/SF
EGI
$65.3K $20.40/SF
− OpEx
−$16.3K −$5.10/SF
NOI
$49.0K $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 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%
$979,200
Cap Rate 7%
$699,429
Cap Rate 9%
$544,000
Alternative Uses
Best Use
Office B
$699.4K
$612.0K – $816.0K
NOI $48,960 @ 7.0% cap · market cap 3.92%
Second Best
Healthcare Medical
$680.7K
$595.6K – $794.1K
NOI $47,647 @ 7.0% cap · market cap 3.81%
Theoretical Best
Office A
$835.6K
$731.1K – $974.9K
NOI $58,491 @ 7.0% cap · market cap 4.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,654
Businesses Nearby
Explore this area
Business Placement
Demographics for 07090, NJ
31,056
Population
11,093
Households
2.8
Avg Household Size
41
Median Age
77%
College-Educated
98%
High-School Grad
6.7 sq mi
ZIP Area
4,635
Density / Sq Mi
$212,700
Median Household Income
$106,123
Median Earnings
$2,211
Median Rent
$930,500
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Three-story professional building with a full basement and parking lot on a quarter-acre lot.
Where is this office building located?
The property is located at 114 S EUCLID AVE Westfield, NJ.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Three‑story professional building with full basement and off‑street parking on a quarter‑acre lot; Zoned professional; located in the Central Business District on a level lot; Parking for 8 vehicles; includes 1‑car off‑street space
