Hackensack Office Space For
For Sale
$199,000
Pending
235 Prospect #2 / LE, Hackensack, NJ 07601
900 sq ft office space suitable for professional use.
Property Size900 SF
Days on Market502
Property Features for 235 Prospect #2 / LE
General Information
Standard status
Pending
Size
900 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$9,736
Amenities
Electric Heating
Listing Agency:
KELLER WILLIAMS VILLAGE SQUARE REALTY
(201) 445-4300
Listed By:
ZOHAR ZAMIR · License #0791149
Source:
Corcoran
Added: Mar 27, 2025
Changed: Aug 8
Last Checked: Aug 8 at 4:45AM
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 KELLER WILLIAMS VILLAGE SQUARE REALTY
Investment Insights
Based on property information with market context.
This commercial unit at the Blair House in Hackensack offers approximately 900 sq. ft. of flexible office space, suitable for medical, legal, accounting, or other professional uses. The layout features an open bullpen area, two private offices (one with a shower), and a private bathroom. The property includes four dedicated parking spaces and access to a well-maintained building. It is located near major highways, public transit, and local amenities. The unit is located on the first floor.
Key Highlights
- Prime first‑floor location in the Blair House, Hackensack, offering high visibility and accessibility.
- Approximately 900 sq. ft. of flexible office space suitable for various professional uses (medical, legal, accounting, etc.).
- Features a generous open bullpen area, two private offices (one with a shower), and a private bathroom.
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
$13,770
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
6.92%
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%
$275,400
$275.4K
Cap Rate 7%
$196,714
$196.7K
Cap Rate 9%
$153,000
$153.0K
Market Conditions
NOI Build-Up for 900 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
$27.0K $30.00/SF
− Vacancy
−$8.6K −$9.60/SF
EGI
$18.4K $20.40/SF
− OpEx
−$4.6K −$5.10/SF
NOI
$13.8K $15.30/SF
Area
Bergen 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%
$275,400
Cap Rate 7%
$196,714
Cap Rate 9%
$153,000
Alternative Uses
Best Use
Office B
$196.7K
$172.1K – $229.5K
NOI $13,770 @ 7.0% cap · market cap 6.92%
Second Best
Healthcare Medical
$191.4K
$167.5K – $223.4K
NOI $13,401 @ 7.0% cap · market cap 6.73%
Theoretical Best
Office A
$235.0K
$205.6K – $274.2K
NOI $16,451 @ 7.0% cap · market cap 8.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
5,027
Businesses Nearby
Explore this area
Business Placement
Demographics for 07601, NJ
46,030
Population
21,405
Households
2.2
Avg Household Size
40
Median Age
42%
College-Educated
87%
High-School Grad
4.2 sq mi
ZIP Area
10,960
Density / Sq Mi
$82,212
Median Household Income
$50,265
Median Earnings
$1,794
Median Rent
$370,300
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 units - 900 sq ft office space suitable for professional use.
Where is this office units located?
The property is located at 235 Prospect #2 / LE Hackensack, NJ.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: Prime first‑floor location in the Blair House, Hackensack, offering high visibility and accessibility.; Approximately 900 sq. ft. of flexible office space suitable for various professional uses (medical, legal, accounting, etc.).; Features a generous open bullpen area, two private offices (one with a shower), and a private bathroom.
