Three-Unit Office
For Sale
$490,000
353 Main Street #A, Spotswood, NJ 08884
Commercial building in the Spotswood business district with a flexible office configuration.
Property Size1,615 SF
Price / SF$303.41
Days on Market21
Property Features for 353 Main Street #A
General Information
Standard status
Active
Size
1,615 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$12,878
Amenities
Central air
A-Frame Roof
Central Air Cooling
Forced Air Heating
Level
Shingle Roof
Wood Flooring
Building Details
Year Built
1933
Tenancy
Multi
Owner Occupied
No
Listing Agency:
MID-STATE REALTY
(732) 251-8900
Listed By:
JOHN PROFACI · License #9231545
(908) 692-5419
Source:
Corcoran
Added: Aug 22
Changed: Sep 10
Last Checked: Sep 11 at 8:23AM
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 MID-STATE REALTY
Investment Insights
Based on property information with market context.
This three-unit office property contains approximately 1,615 square feet within a building constructed in 1933. The layout includes two private offices on the main level totaling approximately 500 square feet, with additional upper-level space identified in the property information. The configuration supports professional office occupancy and provides a compact commercial footprint for an owner-user or investor.
The property is located at 353 Main Street #A in Spotswood, New Jersey, within the Spotswood business district. Its central business-district setting and office-oriented layout provide a straightforward platform for commercial use.
The property is located at 353 Main Street #A in Spotswood, New Jersey, within the Spotswood business district. Its central business-district setting and office-oriented layout provide a straightforward platform for commercial use.
Key Highlights
- Three‑unit office property totaling approximately 1,615 square feet
- Two main‑level private offices totaling approximately 500 square feet
- Upper‑level space included in the building configuration
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
$24,710
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
5.04%
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%
$494,200
$494.2K
Cap Rate 7%
$353,000
$353.0K
Cap Rate 9%
$274,556
$274.6K
Market Conditions
NOI Build-Up for 1,615 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
$48.5K $30.00/SF
− Vacancy
−$15.5K −$9.60/SF
EGI
$32.9K $20.40/SF
− OpEx
−$8.2K −$5.10/SF
NOI
$24.7K $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 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%
$494,200
Cap Rate 7%
$353,000
Cap Rate 9%
$274,556
Alternative Uses
Best Use
Office B
$353.0K
$308.9K – $411.8K
NOI $24,710 @ 7.0% cap · market cap 5.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$421.7K
$369.0K – $492.0K
NOI $29,520 @ 7.0% cap · market cap 6.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
434
Businesses Nearby
Explore this area
Business Placement
Demographics for 08884, NJ
8,185
Population
3,318
Households
2.5
Avg Household Size
45
Median Age
34%
College-Educated
91%
High-School Grad
2.3 sq mi
ZIP Area
3,559
Density / Sq Mi
$101,125
Median Household Income
$57,834
Median Earnings
$1,097
Median Rent
$358,100
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Office units - Commercial building in the Spotswood business district with a flexible office configuration.
Where is this office units located?
The property is located at 353 Main Street #A Spotswood, NJ.
What is the asking price?
The asking price for this property is $490,000.
What are key features of this property?
This property features: Three‑unit office property totaling approximately 1,615 square feet; Two main‑level private offices totaling approximately 500 square feet; Upper‑level space included in the building configuration
