Four-Unit Medical Office
For Sale
$1,399,000
515 Church St #515, Bound Brook, NJ 08805
Fully occupied and zoned for professional office use, the property offers an established medical-office setting.
Property Size7,226 SF
Price / SF$193.61
Days on Market957
Property Features for 515 Church St #515
General Information
Standard status
Active
Size
7,226 SF
Property subtype
Commercial
Zoning
PROF OFFICE
Occupancy
100%
Net Operating Income
$89,626
Additional Details
Cap Rate
6%
Highway Access
Yes
Office Units
4
Building Details
Building Size
7,226 SF
Year Built
1968
Buildings
1
Stories
1
Units
4
Tenancy
Multi
Listing Agency:
Bhhs Fox & Roach
(732) 469-1515
Listed By:
Tim Deluccia · License #8243435
(732) 907-2901
Source:
Cammarotarealestate
Added: Mar 12, 2024
Changed: Oct 22
Last Checked: Oct 22 at 9:05AM
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 Bhhs Fox & Roach
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Investment Insights
Based on property information with market context.
This 7,226-square-foot medical office property contains four units and was built in 1968. It is zoned PROF OFFICE and is 100% leased. The corner parcel includes parking for occupants and visitors.
The property is minutes from RT 28, RT 22, I-287, and RWJ University Hospital Somerset. Its four-unit configuration and professional-office zoning are central features of the offering.
The property is minutes from RT 28, RT 22, I-287, and RWJ University Hospital Somerset. Its four-unit configuration and professional-office zoning are central features of the offering.
Key Highlights
- Four‑unit medical office property totaling 7,226 SF
- 100% leased
- 6% cap rate
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$110,558
Cap Rate
7.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,211,160
$2.2M
Cap Rate 7%
$1,579,400
$1.6M
Cap Rate 9%
$1,228,422
$1.2M
Market Conditions
NOI Build-Up for 7,226 SF
Gross rent
$216.8K $30.00/SF
− Vacancy
−$69.4K −$9.60/SF
EGI
$147.4K $20.40/SF
− OpEx
−$36.9K −$5.10/SF
NOI
$110.6K $15.30/SF
Area
Somerset 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 Rate 5%
$2,211,160
Cap Rate 7%
$1,579,400
Cap Rate 9%
$1,228,422
Alternative Uses
Best Use
Office B
$1.58M
$1.38M – $1.84M
NOI $110,558 @ 7.0% cap · market cap 7.90%
Second Best
Healthcare Medical
$1.54M
$1.34M – $1.79M
NOI $107,592 @ 7.0% cap · market cap 7.69%
Theoretical Best
Office A
$1.89M
$1.65M – $2.20M
NOI $132,080 @ 7.0% cap · market cap 9.44%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
4
Office units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
882
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 08805, NJ
13,948
Population
5,524
Households
2.5
Avg Household Size
37
Median Age
33%
College-Educated
86%
High-School Grad
2.9 sq mi
ZIP Area
4,810
Density / Sq Mi
$84,201
Median Household Income
$41,874
Median Earnings
$1,859
Median Rent
$393,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Fully occupied and zoned for professional office use, the property offers an established medical-office setting.
Where is this medical office space located?
The property is located at 515 Church St #515 Bound Brook, NJ.
What is the asking price?
The asking price for this property is $1,399,000.
What are key features of this property?
This property features: Four‑unit medical office property totaling 7,226 SF; 100% leased; 6% cap rate
