Flex Space with
For Sale
$1,875,000
2504 Plainfield Avenue, Scotch Plains, NJ 07076
Commercial Sale, Scotch Plains, NJ
Property Size4,032 SF
Lot Size0.24 Acres
Price / SF$465.03
Days on Market173
Property Features for 2504 Plainfield Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
commercial
Parking
20
Interior features
Dropped Ceiling
Lot features
Industrial Area, Industrial Park
Directions
North Ave make a right on Mountain Ave. Mountain Ave turns slight left and becomes Plainfield Ave.
Standard status
Active
APN
160650300000000701
Size
4,032 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
18382
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Baseboard
Cooling system
Wall Unit(s)
Water source
Public
Building Details
Year built
1971
Floors in Building
2
Flooring type
Linoleum, Dropped ceiling
Building materials
Brick
Roof type
Asphalt
Listing Agency:
ROBERT MICHAEL COLDW BANKER REALTY
(732) 815-1550
Listed By:
Michelle Castro
(732) 589-0587
Added: Apr 13
Changed: Sep 11
Last Checked: Oct 2 at 3:06PM
MLS# 2613873R
Copyright © 2026 All Jersey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 4,032-square-foot flex property at 2504 Plainfield Avenue includes three office spaces and three garage/warehouse units. Overhead doors, a loading dock, and a large usable yard support a range of commercial operations, while commercial zoning is identified for the property. Interior features include dropped ceilings, linoleum flooring, baseboard and electric heating, and wall-unit cooling. The building was constructed in 1971 with brick construction and an asphalt roof.
The property occupies 0.242 acres in Scotch Plains, New Jersey, with public water and public sewer service. It offers access to major highways and sits near commercial corridors in an industrial area. Existing rental income is associated with the property.
The property occupies 0.242 acres in Scotch Plains, New Jersey, with public water and public sewer service. It offers access to major highways and sits near commercial corridors in an industrial area. Existing rental income is associated with the property.
Key Highlights
- 4,032 SF flex property with three office spaces and three garage/warehouse units
- Overhead doors and a loading dock serve the garage/warehouse areas
- Large usable yard on a 0.242‑acre commercial property
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
$62,270
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
3.32%
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%
$1,245,400
$1.2M
Cap Rate 7%
$889,571
$889.6K
Cap Rate 9%
$691,889
$691.9K
Market Conditions
NOI Build-Up for 4,032 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
$108.9K $27.00/SF
− Vacancy
−$13.1K −$3.24/SF
EGI
$95.8K $23.76/SF
− OpEx
−$33.5K −$8.32/SF
NOI
$62.3K $15.44/SF
Area
Union County, NJ
Vacancy
12.00%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
35.00%
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%
$1,245,400
Cap Rate 7%
$889,571
Cap Rate 9%
$691,889
Alternative Uses
Best Use
Flex RnD
$889.6K
$778.4K – $1.04M
NOI $62,270 @ 7.0% cap · market cap 3.32%
Second Best
Office B
$881.3K
$771.1K – $1.03M
NOI $61,690 @ 7.0% cap · market cap 3.29%
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.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
3
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
319
Businesses Nearby
Under-served
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Commercial property combines office accommodations with warehouse units, overhead doors, a loading dock, and outdoor work area.
Where is this flex space located?
The property is located at 2504 Plainfield Avenue 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: 4,032 SF flex property with three office spaces and three garage/warehouse units; Overhead doors and a loading dock serve the garage/warehouse areas; Large usable yard on a 0.242‑acre commercial property
