Windowed Medical Office
New
For Sale
$229,775
21 CLYDE Road, Somerset, NJ 08873
Commercial Sale, SOMERSET, NJ
Property Size1,311 SF
Price / SF$175.27
Days on Market2
Property Features for 21 CLYDE Road
General Information
Property type
Other
Property subtype
Office
Parking
50
Parking features
Parking Lot
Elementary school district
FRANKLIN TOWNSHIP PUBLIC SCHOOLS
Middle school district
FRANKLIN TOWNSHIP PUBLIC SCHOOLS
High school district
FRANKLIN TOWNSHIP PUBLIC SCHOOLS
Standard status
Active
Taxes and HOA fees
Tax Annual Amount
3204
Utilities
Heating system
Baseboard, Electric (Heating)
Cooling system
Central Air
Amenities
reception area
windowed private offices
kitchenette
private restroom
Building Details
Year built
1989
Building materials
Vinyl Siding
Listing Agency:
Corcoran Sawyer Smith - Princeton
(609) 737-1500
Listed By:
Trish Biren Shah · License #2557537
(908) 246-0178
Added: Sep 25
Last Checked: Sep 26 at 3:06AM
MLS# NJSO2006102
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This second-floor medical office condo contains approximately 1,311 square feet, with a generous reception area and as many as seven private offices, each with a window. A kitchenette and private restroom are also included, and the interior can accommodate a medical arrangement with exam rooms. The office complex was built in 1989 and is maintained, with common-area care handled through the HOA.
Parking is available directly outside the suite, with at least 50 spaces. The property has access to Route 287, Route 206, Route 27, Route 1, train stations, and Rutgers University.
Parking is available directly outside the suite, with at least 50 spaces. The property has access to Route 287, Route 206, Route 27, Route 1, train stations, and Rutgers University.
Key Highlights
- Approximately 1,311 square feet on the second floor
- Up to seven windowed private offices
- Reception area, kitchenette, and private restroom
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
$20,058
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
8.73%
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%
$401,160
$401.2K
Cap Rate 7%
$286,543
$286.5K
Cap Rate 9%
$222,867
$222.9K
Market Conditions
NOI Build-Up for 1,311 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
$39.3K $30.00/SF
− Vacancy
−$12.6K −$9.60/SF
EGI
$26.7K $20.40/SF
− OpEx
−$6.7K −$5.10/SF
NOI
$20.1K $15.30/SF
Area
Somerset 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%
$401,160
Cap Rate 7%
$286,543
Cap Rate 9%
$222,867
Alternative Uses
Best Use
Office B
$286.5K
$250.7K – $334.3K
NOI $20,058 @ 7.0% cap · market cap 8.73%
Second Best
Healthcare Medical
$278.9K
$244.0K – $325.3K
NOI $19,520 @ 7.0% cap · market cap 8.50%
Theoretical Best
Office A
$342.3K
$299.5K – $399.4K
NOI $23,963 @ 7.0% cap · market cap 10.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
401
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 08873, NJ
55,500
Population
22,142
Households
2.5
Avg Household Size
42
Median Age
54%
College-Educated
93%
High-School Grad
32.1 sq mi
ZIP Area
1,729
Density / Sq Mi
$117,866
Median Household Income
$61,727
Median Earnings
$1,942
Median Rent
$438,600
Median Home Value
Check the figures for this property
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 - A second-floor condo offers a reception area, private offices, a kitchenette, and room for a medical layout.
Where is this medical office space located?
The property is located at 21 CLYDE Road Somerset, NJ.
What is the asking price?
The asking price for this property is $229,775.
What are key features of this property?
This property features: Approximately 1,311 square feet on the second floor; Up to seven windowed private offices; Reception area, kitchenette, and private restroom
