Office Condo with Private
For Sale
$229,775
21 CLYDE ROAD #201, Somerset, NJ 08873
The second-floor suite combines a reception area, private offices, a kitchenette, and its own restroom.
Property Size1,311 SF
Price / SF$175.27
Days on Market8
Property Features for 21 CLYDE ROAD #201
General Information
Standard status
Active
Size
1,311 SF
Total Parking Spaces
50
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Additional Details
Floor
2
Amenities
reception area
kitchenette
private restroom
Building Details
Year Built
1989
Listing Agency:
Corcoran Sawyer Smith - Princeton
(609) 737-1500
Listed By:
Trish Biren Shah · License #2557537
(908) 246-0178
Source:
Cummingsrealtors
Added: Sep 25
Changed: Oct 1
Last Checked: Oct 1 at 11:57AM
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 Corcoran Sawyer Smith - Princeton
Investment Insights
Based on property information with market context.
This 1,311-square-foot office condo is located on the second floor of a professional complex. Its layout includes a reception area, as many as seven private offices with windows, a kitchenette, and a private restroom. The configuration can also accommodate exam rooms for medical use.
At least 50 parking spaces are available outside the suite. The association maintains shared areas, including the grounds, parking lots, and snow removal. The property has access to Routes 287, 206, 27, and 1, as well as train stations and Rutgers University.
At least 50 parking spaces are available outside the suite. The association maintains shared areas, including the grounds, parking lots, and snow removal. The property has access to Routes 287, 206, 27, and 1, as well as train stations and Rutgers University.
Key Highlights
- 1,311‑square‑foot second‑floor office condo
- Reception area and up to seven windowed private offices
- Kitchenette and private restroom; layout can support exam rooms
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
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
146
Businesses Nearby
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
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - The second-floor suite combines a reception area, private offices, a kitchenette, and its own restroom.
Where is this office units located?
The property is located at 21 CLYDE ROAD #201 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: 1,311‑square‑foot second‑floor office condo; Reception area and up to seven windowed private offices; Kitchenette and private restroom; layout can support exam rooms
