Mixed-Use Property with Income
For Sale
$1,875,000
2504 Plainfield Ave, Scotch Plains, NJ 07076
Versatile commercial property with office, warehouse, and yard space.
Property Size4,032 SF
Price / SF$465.03
Days on Market193
Property Features for 2504 Plainfield Ave
General Information
Standard status
Active
Size
4,032 SF
Building Details
Year Built
1971
Listing Agency:
ROBERT MICHAEL COLDW BANKER REALTY
Listed By:
MICHELLE CASTRO
(732) 589-0587
Source:
Luminancerealty
Added: Apr 14
Changed: Oct 12
Last Checked: Oct 21 at 1:41AM
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 ROBERT MICHAEL COLDW BANKER REALTY
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Investment Insights
Based on property information with market context.
This commercial property offers a versatile setup, featuring three office spaces and three garage/warehouse units. The warehouse units are equipped with overhead doors and a loading dock. A large, usable yard is also included. The property is suitable for industrial, contractor, or flex commercial use. It is currently generating rental income, with potential for increased revenue through lease optimization and possible expansion, subject to zoning regulations. The property is situated in a high-demand industrial area, providing convenient access to major highways and strong local traffic. Its location offers proximity to key commercial corridors, making it appealing to tenants and businesses.
Key Highlights
- Strong existing rental income with additional upside potential
- Versatile commercial property featuring office spaces and garage/warehouse units
- Large usable yard and loading dock
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$61,690
Cap Rate
3.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,233,800
$1.2M
Cap Rate 7%
$881,286
$881.3K
Cap Rate 9%
$685,444
$685.4K
Market Conditions
NOI Build-Up for 4,032 SF
Gross rent
$121.0K $30.00/SF
− Vacancy
−$38.7K −$9.60/SF
EGI
$82.3K $20.40/SF
− OpEx
−$20.6K −$5.10/SF
NOI
$61.7K $15.30/SF
Area
Union 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%
$1,233,800
Cap Rate 7%
$881,286
Cap Rate 9%
$685,444
Alternative Uses
Best Use
Office B
$881.3K
$771.1K – $1.03M
NOI $61,690 @ 7.0% cap · market cap 3.29%
Second Best
Warehouse
$785.1K
$686.9K – $915.9K
NOI $54,954 @ 7.0% cap · market cap 2.93%
Theoretical Best
Office A
$1.05M
$921.2K – $1.23M
NOI $73,699 @ 7.0% cap · market cap 3.93%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
319
Businesses Nearby
Explore this area
Business Placement
Demographics for 07076, NJ
24,871
Population
9,037
Households
2.8
Avg Household Size
41
Median Age
65%
College-Educated
97%
High-School Grad
9.0 sq mi
ZIP Area
2,763
Density / Sq Mi
$173,564
Median Household Income
$86,300
Median Earnings
$1,816
Median Rent
$696,900
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Versatile commercial property with office, warehouse, and yard space.
Where is this mixed-use property located?
The property is located at 2504 Plainfield Ave Scotch Plains, NJ.
What is the asking price?
The asking price for this property is $1,875,000.
What are key features of this property?
This property features: Strong existing rental income with additional upside potential; Versatile commercial property featuring office spaces and garage/warehouse units; Large usable yard and loading dock
