Hotel and Hospitality
For Sale
$1,500,000
37 Progress Street B2 Edison, Edison, NJ 08820
For sale hospitality property offering an ownership opportunity within a commercial building footprint.
Property Size5,815 SF
Price / SF$257.95
Days on Market48
Property Features for 37 Progress Street B2 Edison
General Information
Standard status
Active
Size
5,815 SF
Total Parking Spaces
80
Zoning
RI
Taxes and HOA fees
Annual Taxes
$36,482
Amenities
Edison
See Remarks
Public Sewer
Middlesex
2nd Floor
Active
RI
Central Air
Natural Gas
Forced Air
2023
Underground Utilities
1984
5815
Common Area Maintenance,Electricity,Taxes,Gas,Water
B2
Commercial Sale
1
Commercial
Square Feet
36482
Carpet,Dropped Ceiling,Elevator,See Remarks
true
Carpeting,Dropped Ceiling,Elevator,See Remarks
Near Public Transit,Near Shopping,Near Train,Residential Area
Public
0.1335
80
0.00 x 0.00
Parking Lot,On Site,On Street,Paved,See Remarks
Building Details
Building Size
5,815 SF
Year Built
1984
Stories
1
Listing Agency:
(609) 891-3848
Listed By:
Sarina Campanella
(609) 891-3848
Source:
Remaxwelcomehomenj
Added: Jun 30
Changed: Aug 16
Last Checked: Aug 16 at 3:14AM
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 Sarina Campanella
Investment Insights
Based on property information with market context.
This property is offered for sale as a hotel and hospitality asset within a commercial real estate setting. The offering is listed at $1,500,000 and includes a total property size of 5,815, providing a defined footprint for hospitality-oriented operations or redevelopment planning, subject to applicable approvals and due diligence.
The asset is located at 37 Progress Street B2 in Edison, NJ 08820. As presented, the information available supports the type and size of the property for consideration, while additional details such as unit configuration, branding status, and interior condition are not specified and should be confirmed during the buyer review process.
From a practical standpoint, this listing is suited to investors, operators, and developers evaluating hospitality use and acquisition targets in Edison. Buyers should plan to assess the building’s functional layout, compliance requirements, and suitability for their intended concept, including how the existing improvements and site particulars align with their operational or redevelopment goals. The provided data supports consideration of the asset as a hotel and hospitality property, with all other operational specifics to be verified.
The asset is located at 37 Progress Street B2 in Edison, NJ 08820. As presented, the information available supports the type and size of the property for consideration, while additional details such as unit configuration, branding status, and interior condition are not specified and should be confirmed during the buyer review process.
From a practical standpoint, this listing is suited to investors, operators, and developers evaluating hospitality use and acquisition targets in Edison. Buyers should plan to assess the building’s functional layout, compliance requirements, and suitability for their intended concept, including how the existing improvements and site particulars align with their operational or redevelopment goals. The provided data supports consideration of the asset as a hotel and hospitality property, with all other operational specifics to be verified.
Key Highlights
- Commercial building area totals 5,815 SF
- Single‑story property built in 1984
- 0.1335‑acre lot with parking for up to 80 vehicles
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
$43,752
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
2.92%
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%
$875,040
$875.0K
Cap Rate 7%
$625,029
$625.0K
Cap Rate 9%
$486,133
$486.1K
Market Conditions
NOI Build-Up for 5,815 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
$104.7K $18.00/SF
− Vacancy
−$12.6K −$2.16/SF
EGI
$92.1K $15.84/SF
− OpEx
−$48.4K −$8.32/SF
NOI
$43.8K $7.52/SF
Area
Edison, NJ
Vacancy
12.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
52.50%
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%
$875,040
Cap Rate 7%
$625,029
Cap Rate 9%
$486,133
Alternative Uses
Best Use
Hotel Hospitality
$625.0K
$546.9K – $729.2K
NOI $43,752 @ 7.0% cap · market cap 2.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.88M
$1.65M – $2.20M
NOI $131,923 @ 7.0% cap · market cap 8.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,529
Businesses Nearby
Explore this area
Business Placement
Demographics for 08820, NJ
41,169
Population
13,215
Households
3.1
Avg Household Size
42
Median Age
71%
College-Educated
93%
High-School Grad
10.4 sq mi
ZIP Area
3,959
Density / Sq Mi
$168,453
Median Household Income
$86,386
Median Earnings
$1,925
Median Rent
$597,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Hotel - For sale hospitality property offering an ownership opportunity within a commercial building footprint.
Where is this hotel located?
The property is located at 37 Progress Street B2 Edison Edison, NJ.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Commercial building area totals 5,815 SF; Single‑story property built in 1984; 0.1335‑acre lot with parking for up to 80 vehicles
