Three-Building Medical Office
For Sale
$720,000
231 Main St #231, Lebanon, NJ 08833
C2-zoned campus includes varied office layouts, private treatment rooms, and on-site parking.
Property Size3,224 SF
Lot Size1.30 Acres
Price / SF$223.33
Days on Market10
Property Features for 231 Main St #231
General Information
Standard status
Active
Size
3,224 SF
Lot size
1.30 Acres
Property subtype
Commercial
Zoning
C2
Building Details
Building Size
3,224 SF
Year Built
1970
Buildings
3
Stories
1
Units
10
Listing Agency:
Coldwell Banker Realty
(908) 782-6850
Listed By:
Beverly Yoson
Source:
Cammarotarealestate
Added: Oct 14
Changed: Oct 22
Last Checked: Oct 22 at 2:35PM
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 Coldwell Banker Realty
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.
Three buildings totaling 3,224 square feet occupy a 1.3-acre property. The Main Street-facing building contains a waiting room, six private rooms, and a private bath, and is used for an acupuncture practice. A second building is divided into two office suites with storage and a private bath. The Route 22-facing building has six units, a waiting room, and three bathrooms; some units have private entrances.
The property has 154 feet of frontage on Route 22 East and an on-site parking lot. It is zoned C2 and was built in 1970.
The property has 154 feet of frontage on Route 22 East and an on-site parking lot. It is zoned C2 and was built in 1970.
Key Highlights
- Three‑building property on 1.3 acres
- 3,224 square feet of building area
- Route 22 East frontage of 154 feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,327
Cap Rate
6.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$986,540
$986.5K
Cap Rate 7%
$704,671
$704.7K
Cap Rate 9%
$548,078
$548.1K
Market Conditions
NOI Build-Up for 3,224 SF
Gross rent
$96.7K $30.00/SF
− Vacancy
−$31.0K −$9.60/SF
EGI
$65.8K $20.40/SF
− OpEx
−$16.4K −$5.10/SF
NOI
$49.3K $15.30/SF
Area
Hunterdon 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%
$986,540
Cap Rate 7%
$704,671
Cap Rate 9%
$548,078
Alternative Uses
Best Use
Office B
$704.7K
$616.6K – $822.1K
NOI $49,327 @ 7.0% cap · market cap 6.85%
Second Best
Healthcare Medical
$685.8K
$600.1K – $800.1K
NOI $48,004 @ 7.0% cap · market cap 6.67%
Theoretical Best
Office A
$841.9K
$736.6K – $982.2K
NOI $58,930 @ 7.0% cap · market cap 8.18%
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
108
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 08833, NJ
9,117
Population
3,682
Households
2.5
Avg Household Size
49
Median Age
59%
College-Educated
98%
High-School Grad
34.9 sq mi
ZIP Area
261
Density / Sq Mi
$163,500
Median Household Income
$80,752
Median Earnings
$1,811
Median Rent
$575,400
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Similar Off Market Nearby
- Crown Veterinary Specialists — 23 Blossom Hill Rd, Lebanon, NJ 08833
- Round Valley Animal Hospital — 1170 US-22, Lebanon, NJ 08833
- Round Valley Animal Hospital-Dr. Lorraine Marks — 1170 US-22, Lebanon, NJ 08833
Frequently Asked Questions
What type of property is this?
Medical Office Space - C2-zoned campus includes varied office layouts, private treatment rooms, and on-site parking.
Where is this medical office space located?
The property is located at 231 Main St #231 Lebanon, NJ.
What is the asking price?
The asking price for this property is $720,000.
What are key features of this property?
This property features: Three‑building property on 1.3 acres; 3,224 square feet of building area; Route 22 East frontage of 154 feet
