Turnkey First-Floor Medical Office End
For Sale
$550,000
206 Bridge St, Metuchen, NJ 08840
Turnkey first-floor end unit with elevator access, reception and transaction window, plus five exam rooms and dedicated entrances.
Property Size10,000 SF
Price / SF$366.67
Days on Market145
Property Features for 206 Bridge St
General Information
Standard status
Active
Size
10,000 SF
Elevators
Yes
Additional Details
Floor
First Floor
Utilities to Site
Yes
Office Units
1
Taxes and HOA fees
Annual Taxes
$8,346
Building Details
Buildings
1
Building Size
10,000 SF
Construction
stucco
Listing Agency:
PRIME HOMES AND ESTATES
(201) 357-5253
Listed By:
SWAPNA OTHAYAMANGALAM
Source:
Exprealty
Added: Apr 27
Changed: Sep 5
Last Checked: Sep 16 at 9:36PM
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 PRIME HOMES AND ESTATES
Investment Insights
Based on property information with market context.
Turnkey first-floor medical/professional office end unit in a well-maintained 10,000 sq. ft. professional building. The space is approximately 1,500 sq. ft. and is fully built out for medical use, with an easy pathway to general professional office use. Elevator access within the building supports convenient patient/client and staff access.
Inside, the layout includes a spacious front office with a transaction window, a generous reception area, and five exam rooms, each with its own vanity. Additional functional areas include a central nurse station/common area, a private office, dedicated storage, and a utility closet. The unit has one full bath and one half bath, with two separate entrances—one for patients/clients and a secondary entrance for staff.
The unit is equipped with central HVAC, along with 75-gallon and 40-gallon water heaters. The building has a stucco exterior and durable metal roofing. Utilities (gas, electric, and water) are paid based on usage. There is potential to subdivide into two office suites, subject to Township approvals, zoning regulations, and HOA/bylaws.
Inside, the layout includes a spacious front office with a transaction window, a generous reception area, and five exam rooms, each with its own vanity. Additional functional areas include a central nurse station/common area, a private office, dedicated storage, and a utility closet. The unit has one full bath and one half bath, with two separate entrances—one for patients/clients and a secondary entrance for staff.
The unit is equipped with central HVAC, along with 75-gallon and 40-gallon water heaters. The building has a stucco exterior and durable metal roofing. Utilities (gas, electric, and water) are paid based on usage. There is potential to subdivide into two office suites, subject to Township approvals, zoning regulations, and HOA/bylaws.
Key Highlights
- Approximately 1,500 sq. ft. turnkey first‑floor medical/professional end unit
- Five exam rooms, each with its own vanity
- Front office with transaction window plus generous reception area
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
$22,950
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
4.17%
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%
$459,000
$459.0K
Cap Rate 7%
$327,857
$327.9K
Cap Rate 9%
$255,000
$255.0K
Market Conditions
NOI Build-Up for 1,500 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
$45.0K $30.00/SF
− Vacancy
−$14.4K −$9.60/SF
EGI
$30.6K $20.40/SF
− OpEx
−$7.7K −$5.10/SF
NOI
$23.0K $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%
$459,000
Cap Rate 7%
$327,857
Cap Rate 9%
$255,000
Alternative Uses
Best Use
Office B
$327.9K
$286.9K – $382.5K
NOI $22,950 @ 7.0% cap · market cap 4.17%
Second Best
Healthcare Medical
$319.1K
$279.2K – $372.2K
NOI $22,334 @ 7.0% cap · market cap 4.06%
Theoretical Best
Office A
$391.7K
$342.7K – $457.0K
NOI $27,418 @ 7.0% cap · market cap 4.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Office units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
897
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 08840, NJ
17,841
Population
6,552
Households
2.7
Avg Household Size
42
Median Age
62%
College-Educated
95%
High-School Grad
3.2 sq mi
ZIP Area
5,575
Density / Sq Mi
$150,938
Median Household Income
$72,765
Median Earnings
$1,994
Median Rent
$517,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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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 - Turnkey first-floor end unit with elevator access, reception and transaction window, plus five exam rooms and dedicated entrances.
Where is this medical office space located?
The property is located at 206 Bridge St Metuchen, NJ.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Approximately 1,500 sq. ft. turnkey first‑floor medical/professional end unit; Five exam rooms, each with its own vanity; Front office with transaction window plus generous reception area
