Medical Office Condominium with
For Sale
Contact for pricing
200 Perrine Rd, Old Bridge, NJ 08857
Well-kept medical office condominium with an elevator-equipped lobby and allocated parking for practice use.
Property Size850 SF
Price / SF$229.41
Days on Market204
Property Features for 200 Perrine Rd
General Information
Standard status
Active
Size
850 SF
Elevators
Yes
Property subtype
OFFICE
Amenities
professionally maintained lobby
marble floors
top quality electrical, HVAC, fire and security systems
modern communication facilities
business cable
FiOS
Building Details
Tenancy
Multi
Parking Ratio
6 per 1,000 SF
Listing Agency:
The Kislak Company
(732) 750-3000
Listed By:
Matthew LoBocchiaro
(908) 360-8050
Source:
Moodyscre
Added: Feb 23
Changed: Aug 15
Last Checked: Sep 14 at 12:05PM
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 The Kislak Company
Investment Insights
Based on property information with market context.
This well-kept medical office condominium offers an elevator-equipped lobby with marble floors and professionally maintained common areas. The interior includes energy-efficient aluminum paneling and is supported by top-quality electrical, HVAC, fire, and security systems, along with modern communication facilities including business cable and FiOS.
The space is located at 200 Perrine Rd in Old Bridge, NJ 08857, with ample parking available and parking allocated at 6 spaces per 1,000 SF. There is also reserved parking for the doctor. The unit is currently occupied by dental and medical practices, including dentists, primary care physicians, and specialists.
With its medical-focused tenant mix and established buildout for operational needs, this condominium configuration is suitable for health care uses looking for an upgraded, maintained office environment.
The space is located at 200 Perrine Rd in Old Bridge, NJ 08857, with ample parking available and parking allocated at 6 spaces per 1,000 SF. There is also reserved parking for the doctor. The unit is currently occupied by dental and medical practices, including dentists, primary care physicians, and specialists.
With its medical-focused tenant mix and established buildout for operational needs, this condominium configuration is suitable for health care uses looking for an upgraded, maintained office environment.
Key Highlights
- 850 SF medical office condominium with elevator‑equipped lobby
- Marble floors in professionally maintained lobby
- Energy‑efficient aluminum paneling plus HVAC, fire, and security systems
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
$13,005
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
6.67%
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%
$260,100
$260.1K
Cap Rate 7%
$185,786
$185.8K
Cap Rate 9%
$144,500
$144.5K
Market Conditions
NOI Build-Up for 850 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
$25.5K $30.00/SF
− Vacancy
−$8.2K −$9.60/SF
EGI
$17.3K $20.40/SF
− OpEx
−$4.3K −$5.10/SF
NOI
$13.0K $15.30/SF
Area
Middlesex 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%
$260,100
Cap Rate 7%
$185,786
Cap Rate 9%
$144,500
Alternative Uses
Best Use
Office B
$185.8K
$162.6K – $216.8K
NOI $13,005 @ 7.0% cap · market cap 6.67%
Second Best
Healthcare Medical
$180.8K
$158.2K – $210.9K
NOI $12,656 @ 7.0% cap · market cap 6.49%
Theoretical Best
Office A
$222.0K
$194.2K – $259.0K
NOI $15,537 @ 7.0% cap · market cap 7.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
407
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 08857, NJ
40,675
Population
16,241
Households
2.5
Avg Household Size
43
Median Age
36%
College-Educated
93%
High-School Grad
24.0 sq mi
ZIP Area
1,695
Density / Sq Mi
$101,192
Median Household Income
$59,028
Median Earnings
$1,462
Median Rent
$459,400
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Well-kept medical office condominium with an elevator-equipped lobby and allocated parking for practice use.
Where is this medical office space located?
The property is located at 200 Perrine Rd Old Bridge, NJ.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: 850 SF medical office condominium with elevator‑equipped lobby; Marble floors in professionally maintained lobby; Energy‑efficient aluminum paneling plus HVAC, fire, and security systems
