Three-Unit Office
New
For Sale
$490,000
353 Main Street, Spotswood, NJ 08884
Commercial Sale, Spotswood, NJ
Property Size1,615 SF
Lot Size0.22 Acres
Price / SF$303.41
Days on Market7
Property Features for 353 Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Rooms
Basement
Parking features
Parking Lot
Basement
Finished
Lot features
Level
Directions
Intersection of Main Street and Summerhill rd.
Standard status
Active
APN
24-00108-0000-00035
Size
1,615 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
12878
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1933
Floors in Building
3
Flooring type
Wood
Roof type
Shingle
Listing Agency:
Mid-State Realty
(732) 251-8900
Listed By:
John Profaci · License #9231545
(732) 251-8900
Added: Aug 21
Changed: Aug 24
Last Checked: Aug 27 at 4:06AM
MLS# 22626284
Copyright © 2026 More MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This vacant office property contains approximately 1,615 square feet within a three-unit commercial building on a 0.22-acre lot. The main level includes two private offices totaling approximately 500 square feet. Wood flooring, forced-air heat, electric central air conditioning, a shingle roof, and basement space are among the existing improvements.
Positioned in the Spotswood business district, the property includes a parking lot and is served by public water and public sewer. Built in 1933, the building offers a compact commercial layout for office occupancy or other uses supported by its existing configuration.
Positioned in the Spotswood business district, the property includes a parking lot and is served by public water and public sewer. Built in 1933, the building offers a compact commercial layout for office occupancy or other uses supported by its existing configuration.
Key Highlights
- Approximately 1,615 SF commercial building on a 0.22‑acre lot
- Three‑unit configuration with two main‑level offices totaling approximately 500 sq ft
- Located in the Spotswood business district
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
Retail
$329.3K
$288.1K – $384.2K
NOI $23,051 @ 7.0% cap · market cap 4.70%
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
Property Profile
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
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 - Vacant commercial building with office configuration, central air, parking, and public utilities in the Spotswood business district.
Where is this office units located?
The property is located at 353 Main Street 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: Approximately 1,615 SF commercial building on a 0.22‑acre lot; Three‑unit configuration with two main‑level offices totaling approximately 500 sq ft; Located in the Spotswood business district
