Corner Office Suite with
For Sale
Contact for pricing
202-1550 Park Ave, South Plainfield, NJ 07080
Second-floor corner office suite with lift access, private lift/elevator service, and multiple interior office and reception areas.
Property Size984 SF
Price / SF$1.47
Days on Market109
Property Features for 202-1550 Park Ave
General Information
Standard status
Active
Size
984 SF
Taxes and HOA fees
Annual Taxes
$32,922
Amenities
private elevator
private sink
conference room
waiting area
reception area
Listing Agency:
KELLER WILLIAMS CORNERSTONE
(908) 359-0893
Listed By:
ANDREW B. SPRECHER · License #256143
(908) 432-0656
Source:
Exprealty
Added: Jul 6
Changed: Oct 9
Last Checked: Oct 21 at 1:36AM
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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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This second-floor office suite totals approximately 954 SF and is served by a private lift/elevator. The layout includes high-visibility corner offices and a conference room with a waiting area, plus a reception area. Suite features include a private sink and two common bathrooms.
The suite is positioned as a sunny north and east corner with corner visibility. Lift access on the second floor provides ADA accessibility.
The space is currently configured with two spacious private offices and a conference room plus reception and waiting areas, with potential noted to be renovated to create three offices.
The suite is positioned as a sunny north and east corner with corner visibility. Lift access on the second floor provides ADA accessibility.
The space is currently configured with two spacious private offices and a conference room plus reception and waiting areas, with potential noted to be renovated to create three offices.
Key Highlights
- 954 SF second‑floor corner office suite with private lift (elevator) access
- High‑visibility corner location with sunny north and east exposure
- Suite layout includes two private offices plus a conference room and waiting/reception area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,055
Suggested Prices Based on Cap Rates
Cap Rate 5%
$301,100
$301.1K
Cap Rate 7%
$215,071
$215.1K
Cap Rate 9%
$167,278
$167.3K
Market Conditions
NOI Build-Up for 984 SF
Gross rent
$29.5K $30.00/SF
− Vacancy
−$9.4K −$9.60/SF
EGI
$20.1K $20.40/SF
− OpEx
−$5.0K −$5.10/SF
NOI
$15.1K $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 Rate 5%
$301,100
Cap Rate 7%
$215,071
Cap Rate 9%
$167,278
Alternative Uses
Best Use
Office B
$215.1K
$188.2K – $250.9K
NOI $15,055 @ 7.0% cap · market cap 1,038.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$256.9K
$224.8K – $299.8K
NOI $17,986 @ 7.0% cap · market cap 1,240.41%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
456
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
Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - Second-floor corner office suite with lift access, private lift/elevator service, and multiple interior office and reception areas.
Where is this office unit located?
The property is located at 202-1550 Park Ave South Plainfield, NJ.
What are key features of this property?
This property features: 954 SF second‑floor corner office suite with private lift (elevator) access; High‑visibility corner location with sunny north and east exposure; Suite layout includes two private offices plus a conference room and waiting/reception area
