Building Details

Year Built 1925

Building Size 5,000 SF

Listing Agency: The Blau & Berg Company Show Phone

Listed By: Alex Dombrowski

Source: Moodyscre

Added: Feb 18 Changed: Oct 14 Last Checked: Oct 20 at 11:29PM

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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 The Blau & Berg Company

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Investment Insights

Based on property information with market context.

Freestanding professional office building totaling approximately 5,000 square feet on a 0.14-acre lot. The space features a 14’ ceiling height and includes one drive-in door measuring 10’ x 10’. Built in 1925, the property is zoned Professional Office.

The building is located at 314 Cleveland Ave in Highland Park, NJ 08904. Its single drive-in loading door can support day-to-day deliveries and tenant move-ins.

This is a compact office building configuration, suitable for users seeking a smaller professional office footprint with on-site loading access and standard ceiling height for everyday work environments.

Key Highlights

• 0.14‑acre lot with freestanding professional office building
• Approx. 5,000 SF total building size
• 14’ ceiling height

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$76,500

Cap Rate

9.00%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,530,000 $1.5M

Cap Rate 7%

$1,092,857 $1.1M

Cap Rate 9%

$850,000 $850.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,000 SF

Gross rent

$150.0K $30.00/SF

− Vacancy

−$48.0K −$9.60/SF

EGI

$102.0K $20.40/SF

− OpEx

−$25.5K −$5.10/SF

NOI

$76.5K $15.30/SF

Area

Middlesex 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 Rate 5%

$1,530,000

Cap Rate 7%

$1,092,857

Cap Rate 9%

$850,000

Alternative Uses

Best Use

Office B

$1.09M

$956.3K – $1.28M (±1% cap)

NOI $76,500 @ 7.0% cap · market cap 9.00%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.31M

$1.14M – $1.52M (±1% cap)

NOI $91,392 @ 7.0% cap · market cap 10.75%

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

Property Analytics

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Current Use

Office buildings

Suggested Use

Top Pick Electrical Service Carpet & Flooring Store Butcher Catering Service (Bike/Boat/Book/etc) Store Daycare Center

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

1,125

Businesses Nearby

Explore this area Business Placement

Demographics for 08904, NJ

15,072

Population

6,858

Households

2.2

Avg Household Size

36

Median Age

70%

College-Educated

94%

High-School Grad

1.8 sq mi

ZIP Area

8,373

Density / Sq Mi

$101,991

Median Household Income

$58,786

Median Earnings

$1,881

Median Rent

$463,600

Median Home Value

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

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Frequently Asked Questions

What type of property is this?

Office building - Professional Office zoned freestanding building with drive-in loading and ceiling height of 14 feet.

Where is this office building located?

The property is located at 314 Cleveland Ave Highland Park, NJ.

What is the asking price?

The asking price for this property is $850,000.

What are key features of this property?

This property features: 0.14‑acre lot with freestanding professional office building; Approx. 5,000 SF total building size; 14’ ceiling height