Freestanding Office
2 Park Ave Somerville, NJ 08876
For Sale
Contact for pricing
Freestanding office building available for sale or lease, totaling 4,000 square feet.
Property Size4,000 SF
Price / SF$173.75
Days on Market167
Property Features for 2 Park Ave
General Information
Standard status
Active
Size
4,000 SF
Property subtype
OFFICE
Listing Agency:
Bussell Realty Corp
(908) 507-4263
Listed By:
Anthony Mircovich
(908) 507-4263
Source:
Moodyscre
Added: Feb 12
Changed: Jul 26
Last Checked: Jul 28 at 2:28PM
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 Bussell Realty Corp
Investment Insights
Based on property information with market context.
This freestanding 4,000-square-foot office building is available for sale and for lease. The property is presented as a standalone office structure, offering a dedicated setting for administrative and professional uses.
The building is located at 2 Park Ave in Somerville, New Jersey.
As an office building sized for a compact footprint, it may be well-suited for businesses seeking an independent facility within the existing building configuration.
The building is located at 2 Park Ave in Somerville, New Jersey.
As an office building sized for a compact footprint, it may be well-suited for businesses seeking an independent facility within the existing building configuration.
Key Highlights
- Freestanding 4,000 SF office building available for sale or lease
- Building is available as a single freestanding office property
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $120.0k | $30.00 |
| − Vacancy | −$38.4k | −$9.60 |
| EGI | $81.6k | $20.40 |
| − OpEx | −$20.4k | −$5.10 |
| NOI | $61.2k | $15.30 |
4,000 SF · lease $30.00/SF/yr · vacancy 32.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$874.3K
$765.0K – $1.02M
NOI $61,200 @ 7.0% cap · market cap 8.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.04M
$913.9K – $1.22M
NOI $73,114 @ 7.0% cap · market cap 10.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office building - Freestanding office building available for sale or lease, totaling 4,000 square feet.
Where is this office building located?
The property is located at 2 Park Ave Somerville, NJ.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Freestanding 4,000 SF office building available for sale or lease; Building is available as a single freestanding office property
