Multi-Tenant Office
For Sale
Contact for pricing
Pending
551 Park Avenue, Scotch Plains, NJ 07076
A fully occupied office building with long-term tenants and short-term leases, on 0.70 acres.
Property Size7,166 SF
Lot Size0.70 Acres
Days on Market143
Property Features for 551 Park Avenue
General Information
Standard status
Pending
Size
7,166 SF
Lot size
0.70 Acres
Property subtype
Multifamily, Office
Occupancy
100%
Additional Details
Cap Rate
5.59%
Listing Agency:
CBRE - Saddle Brook
Listed By:
Samuel Bernhaut · License #NJ
Source:
Crexi
Added: Apr 11
Changed: Aug 25
Last Checked: Aug 31 at 1:06AM
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 CBRE - Saddle Brook
Investment Insights
Based on property information with market context.
551 Park Avenue in Scotch Plains is a stabilized, multi-tenant office property comprising a 7,166 rentable square foot building on 0.70 acres. The building is currently 100% occupied, with long-term tenants operating under short-term leases.
The offering is presented for sale as an investment opportunity with the ability to adjust lease outcomes for an investor or an owner-occupier. Additionally, the property has redevelopment potential for townhouses or garden apartments, both listed as permitted uses at 12 units per acre, subject to a minimum one-acre tract requirement.
The offering is presented for sale as an investment opportunity with the ability to adjust lease outcomes for an investor or an owner-occupier. Additionally, the property has redevelopment potential for townhouses or garden apartments, both listed as permitted uses at 12 units per acre, subject to a minimum one-acre tract requirement.
Key Highlights
- 7,166 rentable SF office building on 0.70 acres in Scotch Plains
- Currently 100% occupied with a reported 5.59% cap rate
- Long‑term tenants with short‑term leases in place
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,152
Businesses Nearby
Explore this area
Business Placement
Demographics for 07076, NJ
24,871
Population
9,037
Households
2.8
Avg Household Size
41
Median Age
65%
College-Educated
97%
High-School Grad
9.0 sq mi
ZIP Area
2,763
Density / Sq Mi
$173,564
Median Household Income
$86,300
Median Earnings
$1,816
Median Rent
$696,900
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 - A fully occupied office building with long-term tenants and short-term leases, on 0.70 acres.
Where is this office building located?
The property is located at 551 Park Avenue Scotch Plains, NJ.
What are key features of this property?
This property features: 7,166 rentable SF office building on 0.70 acres in Scotch Plains; Currently 100% occupied with a reported 5.59% cap rate; Long‑term tenants with short‑term leases in place
