Listing Agency: HERSHEY REALTY, INC. i***@hersheyrealtynj.com Show Phone

Listed By: PRIYA RAJAN Show Phone

Source: Exprealty

Added: Sep 9 Changed: Oct 25 Last Checked: Nov 3 at 6:50AM

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This mixed-use commercial property includes two distinct spaces within a maintained building on State Route 27. The second-floor office measures approximately 600 SF and has updated finishes, new carpeting, fresh paint, and elevator access. The first-floor retail space is currently arranged as an upscale salon and may continue in that configuration.

The property offers separate office and retail components at 27-3146 State Route 27 in Kendall Park, New Jersey. Its existing layouts support office-based and salon-oriented commercial use, with the retail area also suited to other explicitly stated concepts such as a spa, nail salon, boutique, beauty business, showroom, or fitness studio.

Key Highlights

• Two commercial spaces: second‑floor office and first‑floor retail
• Approximately 600 SF second‑floor office
• Elevator access to the office space

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$116,810

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,336,200 $2.3M

Cap Rate 7%

$1,668,714 $1.7M

Cap Rate 9%

$1,297,889 $1.3M

What to ask about pricing

Market Conditions

NOI Build-Up for 13,500 SF

Gross rent

$213.8K $15.84/SF

− Vacancy

−$26.9K −$2.00/SF

EGI

$186.9K $13.84/SF

− OpEx

−$70.1K −$5.19/SF

NOI

$116.8K $8.65/SF

Area

Middlesex County, NJ

Vacancy

12.60%

Lease Rate

$15.84 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,336,200

Cap Rate 7%

$1,668,714

Cap Rate 9%

$1,297,889

Alternative Uses

Best Use

Office B

$2.95M

$2.58M – $3.44M (±1% cap)

NOI $206,550 @ 7.0% cap · market cap 4,860.00%

Second Best

Retail

$2.75M

$2.41M – $3.21M (±1% cap)

NOI $192,689 @ 7.0% cap · market cap 4,533.86%

Theoretical Best

Office A

$3.53M

$3.08M – $4.11M (±1% cap)

NOI $246,758 @ 7.0% cap · market cap 5,806.07%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Retail space

Suggested Use

Top Pick Real Estate Agency Law Firm Parking Lot & Garage Kitchen & Bath Showroom Plumbing Service (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

191

Businesses Nearby

Explore this area Business Placement

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Frequently Asked Questions

What type of property is this?

Mixed-use property - Two commercial spaces combine an updated second-floor office with a first-floor retail suite configured for salon use.

Where is this mixed-use property located?

The property is located at 27-3146 State Route 27 Kendall Park, NJ.

What are key features of this property?

This property features: Two commercial spaces: second‑floor office and first‑floor retail; Approximately 600 SF second‑floor office; Elevator access to the office space