Hackensack Office Space For
For Sale
$199,000
235 Prospect #2 / LE, Hackensack, NJ 07601
Versatile 900 sq ft office space in Hackensack, NJ.
Property Size900 SF
Price / SF$221.11
Days on Market153
Property Features for 235 Prospect #2 / LE
General Information
Standard status
Active
Size
900 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$9,736
Amenities
Electric Heating
Listing Agency:
KELLER WILLIAMS VILLAGE SQUARE REALTY
(201) 445-4300
Listed By:
ZOHAR ZAMIR · License #0791149
Source:
Corcoran
Added: Mar 11
Changed: Aug 10
Last Checked: Aug 10 at 4:19AM
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 KELLER WILLIAMS VILLAGE SQUARE REALTY
Investment Insights
Based on property information with market context.
Located in the Blair House in Hackensack, this commercial space offers approximately 900 sq. ft. of office space suitable for medical, legal, accounting, therapy, or other professional practices. The layout includes a spacious open bullpen/work area and two private offices, one of which features an in-office shower. A private bathroom is also included. The property benefits from dedicated parking spaces and access to a well-maintained professional building environment. The location provides convenient access to major highways, public transportation, and nearby amenities. The HOA fee is $694 per month, plus a $32 special assessment.
Key Highlights
- Versatile 900 sq. ft. office space suitable for various professional practices.
- Strategically located with easy access to major highways, public transportation, and nearby amenities.
- Functional layout with spacious open work area and two private offices.
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
$13,770
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
6.92%
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%
$275,400
$275.4K
Cap Rate 7%
$196,714
$196.7K
Cap Rate 9%
$153,000
$153.0K
Market Conditions
NOI Build-Up for 900 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
$27.0K $30.00/SF
− Vacancy
−$8.6K −$9.60/SF
EGI
$18.4K $20.40/SF
− OpEx
−$4.6K −$5.10/SF
NOI
$13.8K $15.30/SF
Area
Bergen 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%
$275,400
Cap Rate 7%
$196,714
Cap Rate 9%
$153,000
Alternative Uses
Best Use
Office B
$196.7K
$172.1K – $229.5K
NOI $13,770 @ 7.0% cap · market cap 6.92%
Second Best
Healthcare Medical
$191.4K
$167.5K – $223.4K
NOI $13,401 @ 7.0% cap · market cap 6.73%
Theoretical Best
Office A
$235.0K
$205.6K – $274.2K
NOI $16,451 @ 7.0% cap · market cap 8.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
5,027
Businesses Nearby
Explore this area
Business Placement
Demographics for 07601, NJ
46,030
Population
21,405
Households
2.2
Avg Household Size
40
Median Age
42%
College-Educated
87%
High-School Grad
4.2 sq mi
ZIP Area
10,960
Density / Sq Mi
$82,212
Median Household Income
$50,265
Median Earnings
$1,794
Median Rent
$370,300
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 - Versatile 900 sq ft office space in Hackensack, NJ.
Where is this office units located?
The property is located at 235 Prospect #2 / LE Hackensack, NJ.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: Versatile 900 sq. ft. office space suitable for various professional practices.; Strategically located with easy access to major highways, public transportation, and nearby amenities.; Functional layout with spacious open work area and two private offices.
