Corner Office
For Sale
Contact for pricing
1510 Park Ave Unit 101, South Plainfield, NJ 07080
Renovated professional suite includes four offices, a conference room, kitchenette, reception area, and double-entry access.
Property Size1,093 SF
Price / SF$1.33
Days on Market76
Property Features for 1510 Park Ave Unit 101
General Information
Standard status
Active
Size
1,093 SF
Building Details
Year Built
1968
Listing Agency:
KELLER WILLIAMS CORNERSTONE
Listed By:
ANDREW B. SPRECHER · License #256143
(908) 359-0893
Source:
Goldstandardrealty
Added: Aug 3
Changed: Oct 10
Last Checked: Oct 16 at 11:50AM
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 CORNERSTONE
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Investment Insights
Based on property information with market context.
This 1,093-square-foot office suite at 1510 Park Ave Unit 101 is configured with four offices, a conference room, kitchenette, and reception area. The space has been renovated and occupies a sunny north and west corner, with access through a double-entry door.
The property was built in 1968 and is positioned in South Plainfield, New Jersey. Its layout is identified for professional, medical, and/or sales office use. Lease structure is modified gross, providing a defined framework for occupancy and operating expenses.
The property was built in 1968 and is positioned in South Plainfield, New Jersey. Its layout is identified for professional, medical, and/or sales office use. Lease structure is modified gross, providing a defined framework for occupancy and operating expenses.
Key Highlights
- 1,093 SF office suite at 1510 Park Ave Unit 101
- Four offices plus a conference room
- Kitchenette and reception area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,274
Suggested Prices Based on Cap Rates
Cap Rate 5%
$325,480
$325.5K
Cap Rate 7%
$232,486
$232.5K
Cap Rate 9%
$180,822
$180.8K
Market Conditions
NOI Build-Up for 1,093 SF
Gross rent
$28.9K $26.40/SF
− Vacancy
−$1.7K −$1.58/SF
EGI
$27.1K $24.82/SF
− OpEx
−$10.8K −$9.93/SF
NOI
$16.3K $14.89/SF
Area
Middlesex County, NJ
Vacancy
6.00%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$325,480
Cap Rate 7%
$232,486
Cap Rate 9%
$180,822
Alternative Uses
Best Use
Office B
$238.9K
$209.0K – $278.7K
NOI $16,723 @ 7.0% cap · market cap 1,153.31%
Second Best
Healthcare Medical
$232.5K
$203.4K – $271.2K
NOI $16,274 @ 7.0% cap · market cap 1,122.34%
Theoretical Best
Office A
$285.4K
$249.7K – $333.0K
NOI $19,978 @ 7.0% cap · market cap 1,377.79%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
463
Businesses Nearby
Explore this area
Business Placement
Demographics for 07080, NJ
24,261
Population
8,433
Households
2.9
Avg Household Size
41
Median Age
42%
College-Educated
93%
High-School Grad
8.2 sq mi
ZIP Area
2,959
Density / Sq Mi
$126,161
Median Household Income
$61,777
Median Earnings
$1,928
Median Rent
$444,100
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
Frequently Asked Questions
What type of property is this?
Office units - Renovated professional suite includes four offices, a conference room, kitchenette, reception area, and double-entry access.
Where is this office units located?
The property is located at 1510 Park Ave Unit 101 South Plainfield, NJ.
What are key features of this property?
This property features: 1,093 SF office suite at 1510 Park Ave Unit 101; Four offices plus a conference room; Kitchenette and reception area
