Freestanding Two-Story Office
For Sale
$580,000
702 State Route 18, East Brunswick, NJ 08816
Corner office property with flexible layouts, private bathrooms, basement storage, and separate upstairs access.
Property Size1,201 SF
Price / SF$482.93
Days on Market692
Property Features for 702 State Route 18
General Information
Standard status
Active
Size
1,201 SF
Total Parking Spaces
12
Site & Location
Road Access
Yes
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$9,017
Amenities
private bath
storage room
full basement
Building Details
Buildings
1
Stories
2
Listing Agency:
EXP REALTY, LLC
(866) 201-6210
Listed By:
STACY STOUPAS
Source:
Exprealty
Added: Oct 12, 2024
Changed: Aug 31
Last Checked: Sep 1 at 10:21PM
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 EXP REALTY, LLC
Investment Insights
Based on property information with market context.
This freestanding office building offers two levels of professional workspace along with a full basement accessible from both inside and outside. The first floor includes a reception area, three offices, a storage room, and a private bathroom. The upper level has two offices, a separate entrance, and its own private bathroom, allowing for distinct occupancy or operational separation.
The property sits at the corner of State Route 18 and Kendal Road in East Brunswick, with access from both Route 18 N and Kendal Road. Twelve parking spaces are provided, with potential for additional spaces. Building improvements include soundproofing and blown-cellulose wall insulation, a roof and siding replaced 10 years ago, and heating and hot water systems updated 5 years ago. An NYC bus stop is located a block away.
The property sits at the corner of State Route 18 and Kendal Road in East Brunswick, with access from both Route 18 N and Kendal Road. Twelve parking spaces are provided, with potential for additional spaces. Building improvements include soundproofing and blown-cellulose wall insulation, a roof and siding replaced 10 years ago, and heating and hot water systems updated 5 years ago. An NYC bus stop is located a block away.
Key Highlights
- Two‑story freestanding office building with full basement and separate inside/outside access
- First floor includes reception, 3 offices, storage room, and private bath
- Second level offers 2 offices, private bath, and separate entrance
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
$18,375
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
3.17%
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%
$367,500
$367.5K
Cap Rate 7%
$262,500
$262.5K
Cap Rate 9%
$204,167
$204.2K
Market Conditions
NOI Build-Up for 1,201 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
$36.0K $30.00/SF
− Vacancy
−$11.5K −$9.60/SF
EGI
$24.5K $20.40/SF
− OpEx
−$6.1K −$5.10/SF
NOI
$18.4K $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%
$367,500
Cap Rate 7%
$262,500
Cap Rate 9%
$204,167
Alternative Uses
Best Use
Office B
$262.5K
$229.7K – $306.3K
NOI $18,375 @ 7.0% cap · market cap 3.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$313.6K
$274.4K – $365.9K
NOI $21,952 @ 7.0% cap · market cap 3.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,109
Businesses Nearby
Explore this area
Business Placement
Demographics for 08816, NJ
48,729
Population
17,242
Households
2.8
Avg Household Size
42
Median Age
58%
College-Educated
94%
High-School Grad
20.2 sq mi
ZIP Area
2,412
Density / Sq Mi
$141,731
Median Household Income
$71,111
Median Earnings
$2,079
Median Rent
$502,600
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 - Corner office property with flexible layouts, private bathrooms, basement storage, and separate upstairs access.
Where is this office building located?
The property is located at 702 State Route 18 East Brunswick, NJ.
What is the asking price?
The asking price for this property is $580,000.
What are key features of this property?
This property features: Two‑story freestanding office building with full basement and separate inside/outside access; First floor includes reception, 3 offices, storage room, and private bath; Second level offers 2 offices, private bath, and separate entrance
