Versatile First-Floor Office
For Sale
$599,000
622 Georges Road Unit 1-2, North Brunswick, NJ 08902
First-floor office suite suitable for medical or professional services.
Property Size2,400 SF
Price / SF$249.58
Days on Market600
Property Features for 622 Georges Road Unit 1-2
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Commercial
Building Details
Year Built
1990
Listing Agency:
CENTURY 21 BURKE REALTY
Listed By:
JOHN H. BURKE · License #1221032
(732) 658-6800
Source:
Actionplusrealty
Added: Jan 11, 2025
Changed: Sep 3
Last Checked: Sep 2 at 8:17PM
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 CENTURY 21 BURKE REALTY
Investment Insights
Based on property information with market context.
This first-floor office suite is located in a well-maintained commercial building. Currently used for medical purposes, the 2400-square-foot suite offers the potential to be divided into two separate spaces. The property features ample parking. The building has an attractive exterior and interior, providing a professional atmosphere. The suite is suitable for medical offices, urgent care, dental practices, law firms, accounting offices, or other professional services.
Key Highlights
- Versatile first‑floor suite suitable for various professional services (medical, legal, accounting, etc.).
- Potential to be divided into two separate spaces for flexible use.
- Ample parking for staff and clients.
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
$36,720
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
6.13%
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%
$734,400
$734.4K
Cap Rate 7%
$524,571
$524.6K
Cap Rate 9%
$408,000
$408.0K
Market Conditions
NOI Build-Up for 2,400 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
$72.0K $30.00/SF
− Vacancy
−$23.0K −$9.60/SF
EGI
$49.0K $20.40/SF
− OpEx
−$12.2K −$5.10/SF
NOI
$36.7K $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%
$734,400
Cap Rate 7%
$524,571
Cap Rate 9%
$408,000
Alternative Uses
Best Use
Office B
$524.6K
$459.0K – $612.0K
NOI $36,720 @ 7.0% cap · market cap 6.13%
Second Best
Healthcare Medical
$510.5K
$446.7K – $595.6K
NOI $35,735 @ 7.0% cap · market cap 5.97%
Theoretical Best
Office A
$626.7K
$548.4K – $731.1K
NOI $43,868 @ 7.0% cap · market cap 7.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
808
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 08902, NJ
43,296
Population
15,892
Households
2.7
Avg Household Size
38
Median Age
45%
College-Educated
87%
High-School Grad
13.2 sq mi
ZIP Area
3,280
Density / Sq Mi
$117,671
Median Household Income
$57,880
Median Earnings
$2,055
Median Rent
$402,400
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 - First-floor office suite suitable for medical or professional services.
Where is this medical office space located?
The property is located at 622 Georges Road Unit 1-2 North Brunswick, NJ.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Versatile first‑floor suite suitable for various professional services (medical, legal, accounting, etc.).; Potential to be divided into two separate spaces for flexible use.; Ample parking for staff and clients.
