Two-Unit Office
203-350 Grove St, Bridgewater, NJ 08807
For Sale
Contact for pricing
The combined space is currently configured as a dance studio and may be adapted for other settings.
Property Size16,320 SF
Price / SF$0.00
Days on Market55
Property Features for 203-350 Grove St
General Information
Standard status
Size
Additional Details
Highway Access
Taxes and HOA fees
Annual Taxes
Listing Agency:
ACRES REALTY GROUP
(848) 250-4189
Listed By:
AKASH CHHABRA
Source:
Exprealty
Added: Sep 16
Changed: Nov 6
Last Checked: Nov 8 at 11:01AM
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 ACRES REALTY GROUP
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This office space consists of two combined units currently arranged as a dance studio. The configuration may be changed for other settings. The property also includes five suites of approximately 800 to 1,200 square feet and a larger suite that was previously occupied by a medical spa.
On-site parking is available, and the property has access to major highways, business districts, retail, dining, and other local amenities.
On-site parking is available, and the property has access to major highways, business districts, retail, dining, and other local amenities.
Key Highlights
- Two combined office units currently configured as a dance studio
- Five suites ranging from approximately 800 to 1,200 square feet
- A larger suite was previously occupied by a medical spa
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$242,998
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,859,960
$4.9M
Cap Rate 7%
$3,471,400
$3.5M
Cap Rate 9%
$2,699,978
$2.7M
Market Conditions
NOI Build-Up for 16,320 SF
Gross rent
$430.8K $26.40/SF
− Vacancy
−$25.9K −$1.58/SF
EGI
$405.0K $24.82/SF
− OpEx
−$162.0K −$9.93/SF
NOI
$243.0K $14.89/SF
Area
Somerset County, NJ
Vacancy
6.00%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,859,960
Cap Rate 7%
$3,471,400
Cap Rate 9%
$2,699,978
Alternative Uses
Best Use
Office B
$3.57M
$3.12M – $4.16M
NOI $249,696 @ 7.0% cap · market cap 1,248,480.00%
Second Best
Healthcare Medical
$3.47M
$3.04M – $4.05M
NOI $242,998 @ 7.0% cap · market cap 1,214,990.00%
Theoretical Best
Office A
$4.26M
$3.73M – $4.97M
NOI $298,303 @ 7.0% cap · market cap 1,491,515.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
873
Businesses Nearby
Explore this area
Business Placement
Demographics for 08807, NJ
39,299
Population
14,302
Households
2.7
Avg Household Size
43
Median Age
61%
College-Educated
95%
High-School Grad
25.5 sq mi
ZIP Area
1,541
Density / Sq Mi
$165,983
Median Household Income
$79,480
Median Earnings
$2,092
Median Rent
$562,400
Median Home Value
Market
Average Price Trend$/SF for Office Units in Somerset County, NJ
Properties on Market for Office Units in Somerset County
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - The combined space is currently configured as a dance studio and may be adapted for other settings.
Where is this office unit located?
The property is located at 203-350 Grove St Bridgewater, NJ.
What are key features of this property?
This property features: Two combined office units currently configured as a dance studio; Five suites ranging from approximately 800 to 1,200 square feet; A larger suite was previously occupied by a medical spa
