Office Unit with
For Sale
$695,000
256 Columbia Tpke #207, Florham Park, NJ 07932
Bright professional office in a multi-tenant building with high ceilings.
Property Size2,686 SF
Days on Market113
Property Features for 256 Columbia Tpke #207
General Information
Standard status
Active
Size
2,686 SF
Property subtype
Commercial
Zoning
Professional
Building Details
Building Size
2,686 SF
Year Built
1985
Stories
2
Units
1
Tenancy
Multi
Listing Agency:
Coldwell Banker Realty
(973) 865-3456
Listed By:
John Negri · License #NJ 1004002
(973) 865-3456
Source:
Betterhomerealestate
Added: May 9
Changed: Aug 28
Last Checked: Aug 28 at 8:32PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This office unit is located within a professional multi-tenant building constructed in 1985. The space includes a loft area, high ceilings, and bright office areas, and was formerly used as a law office. A partial 900 SF area is also available for lease or sublease. The unit is offered for sale or lease at 256 Columbia Tpke #207 in Florham Park Boro, New Jersey 07932. Professional zoning is identified for the property.
Key Highlights
- Loft area included with the office unit
- High ceilings and bright office areas
- Located in a professional multi‑tenant office building
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
$41,096
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
5.91%
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%
$821,920
$821.9K
Cap Rate 7%
$587,086
$587.1K
Cap Rate 9%
$456,622
$456.6K
Market Conditions
NOI Build-Up for 2,686 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
$80.6K $30.00/SF
− Vacancy
−$25.8K −$9.60/SF
EGI
$54.8K $20.40/SF
− OpEx
−$13.7K −$5.10/SF
NOI
$41.1K $15.30/SF
Area
Morris 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%
$821,920
Cap Rate 7%
$587,086
Cap Rate 9%
$456,622
Alternative Uses
Best Use
Office B
$587.1K
$513.7K – $684.9K
NOI $41,096 @ 7.0% cap · market cap 5.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$701.4K
$613.7K – $818.3K
NOI $49,096 @ 7.0% cap · market cap 7.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
796
Businesses Nearby
Explore this area
Business Placement
Demographics for 07932, NJ
11,036
Population
4,880
Households
2.3
Avg Household Size
46
Median Age
66%
College-Educated
98%
High-School Grad
6.7 sq mi
ZIP Area
1,647
Density / Sq Mi
$147,009
Median Household Income
$73,591
Median Earnings
$3,009
Median Rent
$719,400
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 - Bright professional office in a multi-tenant building with high ceilings.
Where is this office units located?
The property is located at 256 Columbia Tpke #207 Florham Park, NJ.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Loft area included with the office unit; High ceilings and bright office areas; Located in a professional multi‑tenant office building
