Built-Out Office Suite with
For Sale
$359,999
2 State Route 27 Highway 402 Edison, Edison, NJ 08820
Three private offices, reception area, and kitchenette support professional or medical occupancy.
Property Size873 SF
Price / SF$412.37
Days on Market55
Property Features for 2 State Route 27 Highway 402 Edison
General Information
Standard status
Active
Size
873 SF
Total Parking Spaces
5
Zoning
EI
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$5,977
Amenities
Carpet,Wood,Elevator
true
5
Elevator
Public
0.00 x 0.00
On Site
873
Building Details
Building Size
873 SF
Year Built
1985
Buildings
1
Stories
5
Tenancy
Single
Listing Agency:
(732) 991-3166
Listed By:
Steven Bonavita · License #1429895
(732) 991-3166
Source:
Sbonavita.remax
Added: Jul 8
Changed: Aug 30
Last Checked: Aug 30 at 9:58PM
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 Steven Bonavita
Investment Insights
Based on property information with market context.
Located within the five-story Levinson Plaza, this 873-square-foot office unit offers an established layout for professional or medical occupancy. The suite includes three private offices, a reception area, a kitchenette, carpet and wood finishes, and elevator access. On-site parking is available, and the building was constructed in 1985.
The property is positioned just off Route 27 in Edison, adjacent to JFK Medical Center. NJ Transit’s Metropark Station is nearby, with access to Route 287, Route 1, the Garden State Parkway, and the New Jersey Turnpike. The suite is zoned EI.
The property is positioned just off Route 27 in Edison, adjacent to JFK Medical Center. NJ Transit’s Metropark Station is nearby, with access to Route 287, Route 1, the Garden State Parkway, and the New Jersey Turnpike. The suite is zoned EI.
Key Highlights
- 873 SF office unit in the five‑story Levinson Plaza
- Three private offices plus reception area and kitchenette
- Elevator access with carpet and wood finishes
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
$14,260
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
3.96%
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%
$285,200
$285.2K
Cap Rate 7%
$203,714
$203.7K
Cap Rate 9%
$158,444
$158.4K
Market Conditions
NOI Build-Up for 873 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
$23.0K $26.40/SF
− Vacancy
−$4.0K −$4.62/SF
EGI
$19.0K $21.78/SF
− OpEx
−$4.8K −$5.44/SF
NOI
$14.3K $16.33/SF
Area
Edison, NJ
Vacancy
17.50%
Lease Rate
$26.40 /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%
$285,200
Cap Rate 7%
$203,714
Cap Rate 9%
$158,444
Alternative Uses
Best Use
Office B
$203.7K
$178.3K – $237.7K
NOI $14,260 @ 7.0% cap · market cap 3.96%
Second Best
Healthcare Medical
$175.4K
$153.5K – $204.6K
NOI $12,276 @ 7.0% cap · market cap 3.41%
Theoretical Best
Office A
$282.9K
$247.6K – $330.1K
NOI $19,806 @ 7.0% cap · market cap 5.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,648
Businesses Nearby
Explore this area
Business Placement
Demographics for 08820, NJ
41,169
Population
13,215
Households
3.1
Avg Household Size
42
Median Age
71%
College-Educated
93%
High-School Grad
10.4 sq mi
ZIP Area
3,959
Density / Sq Mi
$168,453
Median Household Income
$86,386
Median Earnings
$1,925
Median Rent
$597,700
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Three private offices, reception area, and kitchenette support professional or medical occupancy.
Where is this office units located?
The property is located at 2 State Route 27 Highway 402 Edison Edison, NJ.
What is the asking price?
The asking price for this property is $359,999.
What are key features of this property?
This property features: 873 SF office unit in the five‑story Levinson Plaza; Three private offices plus reception area and kitchenette; Elevator access with carpet and wood finishes
