Six-Unit Office
For Sale
Contact for pricing
24 N 3rd Ave, Highland Park, NJ 08904
Individual office suites occupy a 1960 building near Raritan Avenue.
Property Size3,000 SF
Price / SF$0.09
Days on Market49
Property Features for 24 N 3rd Ave
General Information
Standard status
Active
Size
3,000 SF
Additional Details
Office Units
6
Building Details
Year Built
1960
Listing Agency:
CENTURY 21 J.J. LAUFER
Listed By:
LAURA LEVITT
(732) 249-7717
Source:
Mynewjerseyrealestate
Added: Sep 1
Changed: Oct 16
Last Checked: Oct 7 at 4:02PM
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 CENTURY 21 J.J. LAUFER
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.
This office property contains six separate office units within a building constructed in 1960. The available spaces are configured as individual offices for professional business use, providing a straightforward setting for occupants seeking dedicated workspace.
The building is positioned approximately one-half block from Raritan Avenue in Highland Park, New Jersey. The property includes 3,000 square feet overall and is offered for sale.
The building is positioned approximately one-half block from Raritan Avenue in Highland Park, New Jersey. The property includes 3,000 square feet overall and is offered for sale.
Key Highlights
- Six individual office units available
- 3,000 square feet of office space
- Constructed in 1960
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,900
Suggested Prices Based on Cap Rates
Cap Rate 5%
$918,000
$918.0K
Cap Rate 7%
$655,714
$655.7K
Cap Rate 9%
$510,000
$510.0K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$90.0K $30.00/SF
− Vacancy
−$28.8K −$9.60/SF
EGI
$61.2K $20.40/SF
− OpEx
−$15.3K −$5.10/SF
NOI
$45.9K $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 Rate 5%
$918,000
Cap Rate 7%
$655,714
Cap Rate 9%
$510,000
Alternative Uses
Best Use
Office B
$655.7K
$573.8K – $765.0K
NOI $45,900 @ 7.0% cap · market cap 16,690.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$783.4K
$685.4K – $913.9K
NOI $54,835 @ 7.0% cap · market cap 19,940.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
6
Office units
Location Intelligence
Trade Area within ½ mile
1,257
Businesses Nearby
Explore this area
Business Placement
Demographics for 08904, NJ
15,072
Population
6,858
Households
2.2
Avg Household Size
36
Median Age
70%
College-Educated
94%
High-School Grad
1.8 sq mi
ZIP Area
8,373
Density / Sq Mi
$101,991
Median Household Income
$58,786
Median Earnings
$1,881
Median Rent
$463,600
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
Frequently Asked Questions
What type of property is this?
Office unit - Individual office suites occupy a 1960 building near Raritan Avenue.
Where is this office unit located?
The property is located at 24 N 3rd Ave Highland Park, NJ.
What are key features of this property?
This property features: Six individual office units available; 3,000 square feet of office space; Constructed in 1960
