Medical Office with Exam
New
For Sale
Contact for pricing
283 Washington Ave, Carteret, NJ 07008
A reception area, private office nook, and kitchen/lab support a configured medical office suite.
Property Size936 SF
Days on Market6
Property Features for 283 Washington Ave
General Information
Standard status
Active
Size
936 SF
Total Parking Spaces
4
Property subtype
Commercial
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$7,520
Building Details
Building Size
936 SF
Year Built
1956
Stories
1
Listing Agency:
halo realty
Listed By:
PUNEETPAL SINGH
(908) 721-8691
Source:
Elliman
Added: Oct 12
Changed: Oct 16
Last Checked: Oct 16 at 11:09AM
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 halo realty
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Investment Insights
Based on property information with market context.
This medical office space includes a glass-enclosed reception and administrative area, 3 exam rooms, a private office nook, and a kitchen/lab area. A full basement with high ceilings provides additional storage, and the property has a private parking lot with capacity for 4 vehicles. Built in 1956, the space is located at 283 Washington Ave in Carteret.
Access to major highways, nearby shopping, and surrounding businesses is noted, along with walk, bike, and transit scores of 54, 44, and 28, respectively.
Access to major highways, nearby shopping, and surrounding businesses is noted, along with walk, bike, and transit scores of 54, 44, and 28, respectively.
Key Highlights
- Three exam rooms plus a private office nook
- Glass‑enclosed reception and administrative area
- Kitchen/lab area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,937
Suggested Prices Based on Cap Rates
Cap Rate 5%
$278,740
$278.7K
Cap Rate 7%
$199,100
$199.1K
Cap Rate 9%
$154,856
$154.9K
Market Conditions
NOI Build-Up for 936 SF
Gross rent
$24.7K $26.40/SF
− Vacancy
−$1.5K −$1.58/SF
EGI
$23.2K $24.82/SF
− OpEx
−$9.3K −$9.93/SF
NOI
$13.9K $14.89/SF
Area
Middlesex County, NJ
Vacancy
6.00%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$278,740
Cap Rate 7%
$199,100
Cap Rate 9%
$154,856
Alternative Uses
Best Use
Office B
$204.6K
$179.0K – $238.7K
NOI $14,321 @ 7.0% cap · market cap 596.71%
Second Best
Healthcare Medical
$199.1K
$174.2K – $232.3K
NOI $13,937 @ 7.0% cap · market cap 580.71%
Theoretical Best
Office A
$244.4K
$213.9K – $285.2K
NOI $17,109 @ 7.0% cap · market cap 712.88%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
710
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 07008, NJ
25,342
Population
8,717
Households
2.9
Avg Household Size
37
Median Age
28%
College-Educated
85%
High-School Grad
4.4 sq mi
ZIP Area
5,760
Density / Sq Mi
$87,712
Median Household Income
$42,770
Median Earnings
$2,012
Median Rent
$370,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Medical Office Space - A reception area, private office nook, and kitchen/lab support a configured medical office suite.
Where is this medical office space located?
The property is located at 283 Washington Ave Carteret, NJ.
What are key features of this property?
This property features: Three exam rooms plus a private office nook; Glass‑enclosed reception and administrative area; Kitchen/lab area
