3-Unit Office
For Sale
$599,000
276 STATE RT 94 Unit 00, Vernon, NJ 07462
Office property with private bathrooms, no-step access, parking, and one currently available unit.
Property Size2,985 SF
Price / SF$200.67
Days on Market275
Property Features for 276 STATE RT 94 Unit 00
General Information
Standard status
Active
Size
2,985 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$9,178
Amenities
Central Air, A/C - Zone
3
Laminate, Carpet
Asphalt Shingle
Town Center
Parking.
14 Parking Spaces. Lot.
.6379 AC
Storage Area. Central Business District, Highway Access, Open.
Building Details
Year Built
1960
Listing Agency:
TERRIE O'CONNOR REALTORS
(201) 247-6334
Listed By:
DEBRA ZYSKOWSKI · License #1539962
(201) 247-6334
Source:
Xome
Added: Nov 28, 2025
Changed: Aug 29
Last Checked: Aug 29 at 1:54PM
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 TERRIE O'CONNOR REALTORS
Investment Insights
Based on property information with market context.
This 2,985-square-foot office property contains three separate units within a well-maintained building constructed in 1960. Two units are occupied by orthodontic/medical and beauty/massage users, while the third is vacant and available for a new business. Each unit includes a private bathroom and direct access without stairs. Interior finishes include laminate and carpet, with central air conditioning and zone-controlled A/C.
The property occupies 0.6379 AC at 276 State Route 94 in Vernon Township, with highway access and 14 parking spaces. An additional vacant upstairs area provides storage space. The building is located in the McAfee section, down the road from Mountain Creek Ski Resort.
The property occupies 0.6379 AC at 276 State Route 94 in Vernon Township, with highway access and 14 parking spaces. An additional vacant upstairs area provides storage space. The building is located in the McAfee section, down the road from Mountain Creek Ski Resort.
Key Highlights
- 2,985 SF office property with 3 separate units
- Two units currently rented; one unit is vacant
- 14 parking spaces on a 0.6379 AC lot
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
$41,887
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
6.99%
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%
$837,740
$837.7K
Cap Rate 7%
$598,386
$598.4K
Cap Rate 9%
$465,411
$465.4K
Market Conditions
NOI Build-Up for 2,985 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
$65.6K $21.96/SF
− Vacancy
−$9.7K −$3.25/SF
EGI
$55.8K $18.71/SF
− OpEx
−$14.0K −$4.68/SF
NOI
$41.9K $14.03/SF
Area
Camden County, NJ
Vacancy
14.80%
Lease Rate
$21.96 /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%
$837,740
Cap Rate 7%
$598,386
Cap Rate 9%
$465,411
Alternative Uses
Best Use
Office B
$598.4K
$523.6K – $698.1K
NOI $41,887 @ 7.0% cap · market cap 6.99%
Second Best
Healthcare Medical
$523.2K
$457.8K – $610.4K
NOI $36,622 @ 7.0% cap · market cap 6.11%
Theoretical Best
Office A
$756.9K
$662.3K – $883.0K
NOI $52,980 @ 7.0% cap · market cap 8.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
173
Businesses Nearby
Explore this area
Business Placement
Demographics for 07462, NJ
6,670
Population
3,589
Households
1.9
Avg Household Size
43
Median Age
29%
College-Educated
97%
High-School Grad
17.0 sq mi
ZIP Area
392
Density / Sq Mi
$99,125
Median Household Income
$57,154
Median Earnings
$1,614
Median Rent
$252,600
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 - Office property with private bathrooms, no-step access, parking, and one currently available unit.
Where is this office units located?
The property is located at 276 STATE RT 94 Unit 00 Vernon, NJ.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 2,985 SF office property with 3 separate units; Two units currently rented; one unit is vacant; 14 parking spaces on a 0.6379 AC lot
