Mixed-Use Property with Income
2504 Plainfield Avenue Scotch Plains, NJ 07076
For Sale
$1,875,000
Versatile commercial property with office, warehouse, and yard space.
Property Size4,032 SF
Price / SF$465.03
Days on Market101
Property Features for 2504 Plainfield Avenue
General Information
- Standard status
- Active
- Size
- 4,032 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1971
Listing Agency:
ROBERT MICHAEL COLDW BANKER REALTY
(732) 815-1550
Listed By:
MICHELLE CASTRO
Source:
Corcoran
Added: Apr 14
Changed: Jul 10
Last Checked: Jul 23 at 9:00AM
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
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 For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $121.0k | $30.00 |
| − Vacancy | −$38.7k | −$9.60 |
| EGI | $82.3k | $20.40 |
| − OpEx | −$20.6k | −$5.10 |
| NOI | $61.7k | $15.30 |
4,032 SF · lease $30.00/SF/yr · vacancy 32.00% · expense 25.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Saturn Freight Systems
Freight Service
American Asphalt
General Contractor
Hoff Bros.
Plumbing Service
Blue Rhino Screen ...
Textile Manufacturer
FAQs
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 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: Strong existing rental income with additional upside potential; Versatile commercial property featuring office spaces and garage/warehouse units; Large usable yard and loading dock
