Move-In Ready Office
For Sale
Contact for pricing
361 State Route 31, Flemington, NJ 08822
Office unit offers move-in readiness, a galley kitchen area, and basement-style space included with no CAM.
Property Size20,000 SF
Price / SF$0.08
Days on Market179
Property Features for 361 State Route 31
General Information
Standard status
Active
Size
20,000 SF
Building Details
Year Built
2006
Listing Agency:
BHHS FOX & ROACH
Listed By:
JOHN H. CARRIERE
(908) 581-0300
Source:
Luminancerealty
Added: Apr 24
Changed: Oct 14
Last Checked: Oct 5 at 11:52PM
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 BHHS FOX & ROACH
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Investment Insights
Based on property information with market context.
This office unit is ready to move and includes an additional basement-style space at no extra charge. The suite also features a galley kitchen area, along with an additional access door to another unit, which may support future expansions depending on how the adjoining space is configured.
The property is located at 361 State Route 31, Unit 1002 in Flemington, NJ. The remarks indicate there is no CAM, and CAM is built into the lease pricing.
Overall, the unit’s current layout provides a workable office configuration with included basement-style space and an interior connection door intended to allow flexibility if additional space is planned later.
The property is located at 361 State Route 31, Unit 1002 in Flemington, NJ. The remarks indicate there is no CAM, and CAM is built into the lease pricing.
Overall, the unit’s current layout provides a workable office configuration with included basement-style space and an interior connection door intended to allow flexibility if additional space is planned later.
Key Highlights
- Office unit built in 2006
- Move‑in ready with a galley kitchen area
- Additional basement‑style space included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$306,000
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,120,000
$6.1M
Cap Rate 7%
$4,371,429
$4.4M
Cap Rate 9%
$3,400,000
$3.4M
Market Conditions
NOI Build-Up for 20,000 SF
Gross rent
$600.0K $30.00/SF
− Vacancy
−$192.0K −$9.60/SF
EGI
$408.0K $20.40/SF
− OpEx
−$102.0K −$5.10/SF
NOI
$306.0K $15.30/SF
Area
Hunterdon 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%
$6,120,000
Cap Rate 7%
$4,371,429
Cap Rate 9%
$3,400,000
Alternative Uses
Best Use
Office B
$4.37M
$3.83M – $5.10M
NOI $306,000 @ 7.0% cap · market cap 20,400.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.22M
$4.57M – $6.09M
NOI $365,568 @ 7.0% cap · market cap 24,371.20%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,383
Businesses Nearby
Explore this area
Business Placement
Demographics for 08822, NJ
31,844
Population
12,274
Households
2.6
Avg Household Size
44
Median Age
57%
College-Educated
94%
High-School Grad
64.7 sq mi
ZIP Area
492
Density / Sq Mi
$137,698
Median Household Income
$67,198
Median Earnings
$1,685
Median Rent
$513,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - Office unit offers move-in readiness, a galley kitchen area, and basement-style space included with no CAM.
Where is this office unit located?
The property is located at 361 State Route 31 Flemington, NJ.
What are key features of this property?
This property features: Office unit built in 2006; Move‑in ready with a galley kitchen area; Additional basement‑style space included
