Professional Office Space in
For Sale
$755,000
16 Harrison Street, Clinton, NJ 08809
Well-appointed office space in historic Clinton, near Routes 31/78.
Property Size2,900 SF
Price / SF$260.34
Days on Market254
Property Features for 16 Harrison Street
General Information
Standard status
Active
Size
2,900 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$17,975
Amenities
Central air
Asphalt Shingle Roof
2 Units Cooling
2 Units Heating
Blacktop Driveway
Central Air Cooling
Circular Driveway
Forced Hot Air Heating
Level Lot
Open Lot
Building Details
Year Built
9999
Listing Agency:
COLDWELL BANKER REALTY
(908) 735-8080
Listed By:
FREEMAN SMITH · License #261188
Source:
Corcoran
Added: Dec 9, 2025
Changed: Aug 19
Last Checked: Aug 20 at 5:00AM
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 COLDWELL BANKER REALTY
Investment Insights
Based on property information with market context.
This professional office space is located in the historic town of Clinton. The upgraded interior features chair rail and crown moldings, tray ceilings, and recessed lighting. The layout includes a welcoming lobby leading to 10 offices, a break room, a conference room, and 2 private bathrooms. The property offers curb appeal with a paved circular drive, professional landscaping, and 15 rear parking spaces. The property is suitable for law, accounting, engineering, and other professional uses. It is conveniently located near Routes 31 and 78, and minutes from shops, historic sites, and restaurants. The property contains 2900 square feet.
Key Highlights
- Ideal professional office space with 10 well‑appointed offices, conference room, break room, and 2 private bathrooms.
- Convenient location near Routes 31 and 78, and close to Clinton's shops, historic sites, and restaurants.
- Upgraded interior with chair rail, crown moldings, tray ceilings, and recessed lighting.**
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
$44,370
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
5.88%
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%
$887,400
$887.4K
Cap Rate 7%
$633,857
$633.9K
Cap Rate 9%
$493,000
$493.0K
Market Conditions
NOI Build-Up for 2,900 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
$87.0K $30.00/SF
− Vacancy
−$27.8K −$9.60/SF
EGI
$59.2K $20.40/SF
− OpEx
−$14.8K −$5.10/SF
NOI
$44.4K $15.30/SF
Area
Hunterdon 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%
$887,400
Cap Rate 7%
$633,857
Cap Rate 9%
$493,000
Alternative Uses
Best Use
Office B
$633.9K
$554.6K – $739.5K
NOI $44,370 @ 7.0% cap · market cap 5.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$757.2K
$662.6K – $883.5K
NOI $53,007 @ 7.0% cap · market cap 7.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
618
Businesses Nearby
Explore this area
Business Placement
Demographics for 08809, NJ
7,255
Population
2,353
Households
3.1
Avg Household Size
44
Median Age
52%
College-Educated
92%
High-School Grad
6.9 sq mi
ZIP Area
1,051
Density / Sq Mi
$127,169
Median Household Income
$68,209
Median Earnings
$1,721
Median Rent
$413,400
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 units - Well-appointed office space in historic Clinton, near Routes 31/78.
Where is this office units located?
The property is located at 16 Harrison Street Clinton, NJ.
What is the asking price?
The asking price for this property is $755,000.
What are key features of this property?
This property features: Ideal professional office space with **10 well‑appointed offices, conference room, break room, and 2 private bathrooms.**; Convenient location near Routes 31 and 78, and close to Clinton's shops, historic sites, and restaurants.; Upgraded interior with chair rail, crown moldings, tray ceilings, and recessed lighting.**
