Freestanding Commercial Building in
For Sale
$449,900
348 S Wood Ave, Linden, NJ 07036
Freestanding commercial building suitable for office or service-based businesses.
Property Size1,140 SF
Lot Size0.05 Acres
Price / SF$394.65
Days on Market151
Property Features for 348 S Wood Ave
General Information
Standard status
Active
Size
1,140 SF
Lot size
0.05 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$7,396
Amenities
Central air
1 Unit Cooling
1 Unit Heating
Central Air Cooling
Flat Roof
Forced Hot Air Heating
Level Lot
On-Street Parking
Rubberized Roof
Building Details
Year Built
1998
Listing Agency:
MASTER KEY REALTORS
(732) 629-7111
Listed By:
BRUCE MCDONALD JR.
Source:
Corcoran
Added: Mar 19
Changed: Aug 16
Last Checked: Aug 16 at 6:07AM
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 MASTER KEY REALTORS
Investment Insights
Based on property information with market context.
This is a rare opportunity to own a freestanding commercial building in Linden. The property features approximately 1,140 square feet of storefront space, making it ideal for professional office or service-based businesses that operate primarily by appointment. Suitable uses include insurance agencies, accounting offices, real estate offices, law offices, and consulting services, as well as low-traffic service uses such as locksmiths, therapy practices, or small personal service operations. The property is located within the OPT (Office Professional Transition) zoning district, which supports professional and service-oriented uses. This is an excellent opportunity to stop paying rent and own your business location while building equity.
Key Highlights
- Freestanding commercial building ownership opportunity.
- Ideal for professional office or service‑based businesses operating by appointment.
- Approximately 1,140 sq ft storefront.
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
$17,442
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
3.88%
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%
$348,840
$348.8K
Cap Rate 7%
$249,171
$249.2K
Cap Rate 9%
$193,800
$193.8K
Market Conditions
NOI Build-Up for 1,140 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
$34.2K $30.00/SF
− Vacancy
−$10.9K −$9.60/SF
EGI
$23.3K $20.40/SF
− OpEx
−$5.8K −$5.10/SF
NOI
$17.4K $15.30/SF
Area
Union 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%
$348,840
Cap Rate 7%
$249,171
Cap Rate 9%
$193,800
Alternative Uses
Best Use
Office B
$249.2K
$218.0K – $290.7K
NOI $17,442 @ 7.0% cap · market cap 3.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$297.7K
$260.5K – $347.3K
NOI $20,837 @ 7.0% cap · market cap 4.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,050
Businesses Nearby
Explore this area
Business Placement
Demographics for 07036, NJ
45,161
Population
16,911
Households
2.7
Avg Household Size
40
Median Age
23%
College-Educated
85%
High-School Grad
10.9 sq mi
ZIP Area
4,143
Density / Sq Mi
$89,942
Median Household Income
$46,736
Median Earnings
$1,622
Median Rent
$385,100
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 - Freestanding commercial building suitable for office or service-based businesses.
Where is this office units located?
The property is located at 348 S Wood Ave Linden, NJ.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: Freestanding commercial building ownership opportunity.; Ideal for professional office or service‑based businesses operating by appointment.; Approximately 1,140 sq ft storefront.
