Prime Location Office
349 Us Highway 206, Hillsborough, NJ 08844
For Sale
$3,300,000
14,376 sq. ft. office building in prime location.
Property Size14,376 SF
Lot Size2.37 Acres
Price / SF$229.55
Days on Market631
Property Features for 349 Us Highway 206
General Information
Standard status
Size
Lot size
Property subtype
Taxes and HOA fees
Annual Taxes
Amenities
Central air
Asphalt Shingle Roof
Corner
Cul-De-Sac
Level Lot
Multi-Zone Cooling
Multi-Zone Heating
Parking Lot-Shared
Building Details
Year Built
Listing Agency:
K T REALTY
(908) 753-7511
Listed By:
KETAN THAKKER
(908) 462-2234
Source:
Corcoran
Added: Feb 17, 2025
Changed: Aug 8
Last Checked: Aug 25 at 5:37AM
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 K T REALTY
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 14,376 sq. ft. office building is situated in a prime location. The building contains 9 different offices, each equipped with its own HVAC system and separate electric meter. Water is supplied through a common meter. The property includes 62 parking spaces. Approximately half of the building features a basement. The surrounding area includes RWJ Medicor Cardiology, Lowes, Home Goods, WEIS, and Kohls.
Key Highlights
- 14,376 sq.ft Office Building in a Prime Location
- 9 Separate Offices, each with its own HVAC and Electric Meter
- Ample Parking with 62 Spots
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$219,953
Cap Rate
6.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,399,060
$4.4M
Cap Rate 7%
$3,142,186
$3.1M
Cap Rate 9%
$2,443,922
$2.4M
Market Conditions
NOI Build-Up for 14,376 SF
Gross rent
$431.3K $30.00/SF
− Vacancy
−$138.0K −$9.60/SF
EGI
$293.3K $20.40/SF
− OpEx
−$73.3K −$5.10/SF
NOI
$220.0K $15.30/SF
Area
Somerset 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%
$4,399,060
Cap Rate 7%
$3,142,186
Cap Rate 9%
$2,443,922
Alternative Uses
Best Use
Office B
$3.14M
$2.75M – $3.67M
NOI $219,953 @ 7.0% cap · market cap 6.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.75M
$3.28M – $4.38M
NOI $262,770 @ 7.0% cap · market cap 7.96%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
528
Businesses Nearby
Explore this area
Business Placement
Demographics for 08844, NJ
43,333
Population
16,168
Households
2.7
Avg Household Size
42
Median Age
62%
College-Educated
96%
High-School Grad
55.2 sq mi
ZIP Area
785
Density / Sq Mi
$153,785
Median Household Income
$74,977
Median Earnings
$2,171
Median Rent
$537,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Office buildings in Somerset County, NJ
Properties on Market for Office buildings in Somerset County
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office building - 14,376 sq. ft. office building in prime location.
Where is this office building located?
The property is located at 349 Us Highway 206 Hillsborough, NJ.
What is the asking price?
The asking price for this property is $3,300,000.
What are key features of this property?
This property features: 14,376 sq.ft Office Building in a Prime Location; 9 Separate Offices, each with its own HVAC and Electric Meter; Ample Parking with 62 Spots
