Custom Built Office
For Sale
$895,900
1381 - Fairview Blvd, Riverside, NJ 08075
2100 SF custom office building with expansion potential.
Property Size2,100 SF
Price / SF$426.62
Days on Market167
Property Features for 1381 - Fairview Blvd
General Information
Standard status
Active
Size
2,100 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$15,266
Building Details
Year Built
2024
Listing Agency:
NEW JERSEY HOME SALES INC
(856) 793-9335
Listed By:
DONALD L POLLOCK JR. · License #8741070
Source:
Corcoran
Added: Feb 23
Changed: Aug 8
Last Checked: Aug 8 at 1:59PM
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 NEW JERSEY HOME SALES INC
Investment Insights
Based on property information with market context.
This is a 2100 square foot custom-built office building that is just two years old. It offers the potential for future expansion. The building features Davinci synthetic slate roofing and composite exterior trim, along with a Hardie Board and stone exterior. Engineered hardwood flooring is present throughout the interior. An alarm system with cameras and a Sonos speaker system are installed. All windows are equipped with automatic shades, and the building is wired with CAT6. The property includes a custom kitchen area valued at $250,000, featuring a commercial oven hood. There are also two custom bathrooms, a supply room, and a utility room. All interior doors are solid wood. The building is equipped with a 2-zone A/C system and a 1-zone gas heat system. Ample parking is available, including six electric-ready spaces, two of which have chargers already installed. The property features custom-designed landscaping with a sprinkler system. The space designated for expansion already has utilities in place.
Key Highlights
- Custom‑built 2100 sq ft office building (built in 2024) with room for future expansion and utilities already in place.
- High‑end exterior features include Davinci synthetic slate roofing, composite trim, Hardie Board and stone.
- $250,000 custom kitchen area with commercial oven hood.
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
$32,130
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
3.59%
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%
$642,600
$642.6K
Cap Rate 7%
$459,000
$459.0K
Cap Rate 9%
$357,000
$357.0K
Market Conditions
NOI Build-Up for 2,100 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
$63.0K $30.00/SF
− Vacancy
−$20.2K −$9.60/SF
EGI
$42.8K $20.40/SF
− OpEx
−$10.7K −$5.10/SF
NOI
$32.1K $15.30/SF
Area
Paterson, 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%
$642,600
Cap Rate 7%
$459,000
Cap Rate 9%
$357,000
Alternative Uses
Best Use
Office B
$459.0K
$401.6K – $535.5K
NOI $32,130 @ 7.0% cap · market cap 3.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$548.4K
$479.8K – $639.8K
NOI $38,385 @ 7.0% cap · market cap 4.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
518
Businesses Nearby
Explore this area
Business Placement
Demographics for 08075, NJ
30,327
Population
12,092
Households
2.5
Avg Household Size
39
Median Age
38%
College-Educated
92%
High-School Grad
9.9 sq mi
ZIP Area
3,063
Density / Sq Mi
$94,576
Median Household Income
$47,979
Median Earnings
$1,427
Median Rent
$288,200
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 - 2100 SF custom office building with expansion potential.
Where is this office building located?
The property is located at 1381 - Fairview Blvd Riverside, NJ.
What is the asking price?
The asking price for this property is $895,900.
What are key features of this property?
This property features: Custom‑built 2100 sq ft office building (built in 2024) with room for future expansion and utilities already in place.; High‑end exterior features include Davinci synthetic slate roofing, composite trim, Hardie Board and stone.; $250,000 custom kitchen area with commercial oven hood.
