Medical Office Condo with Open
New
For Sale
$375,000
4 Cornwall Dr, East Brunswick, NJ 08816
A planned main-level renovation allows the interior configuration to be tailored to a medical or dental practice, subject to approvals.
Property Size1,800 SF
Price / SF$208.33
Days on Market7
Property Features for 4 Cornwall Dr
General Information
Standard status
Active
Size
1,800 SF
Property subtype
Commercial
Space & Availability
Floor
Main Level
Furnished
No
Financials
Asking Price
$375,000
HOA Fee
$820
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$12,468
Amenities
Central air
Asphalt Shingle Roof
Central Air Cooling
Forced Hot Air Heating
Parking Lot-Shared
Building Details
Year Built
1977
Buildings
1
Stories
1
Listing Agency:
RE/MAX FIRST REALTY
(732) 257-3500
Listed By:
ANDREW MARRONE · License #1328489
(908) 720-0243
Source:
Corcoran
Added: Oct 16
Changed: Oct 21
Last Checked: Oct 20 at 8:37PM
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 RE/MAX FIRST 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 single-story medical office condo at 4 Cornwall Drive, Unit B4, has an approximately 1,800-square-foot main level currently configured as an open shell. A planned renovation includes framing, sheetrock, electrical and plumbing work, HVAC, fire suppression, windows, storefront, tile flooring, lighting, two bathrooms, and standard exam room sinks. The space has a step-free entrance, a second exterior entrance, and access to an unfinished basement of approximately 1,800 square feet via two interior staircases. Basement finishing and medical or dental equipment are excluded. The building dates to 1977.
The property is in East Brunswick's Brier Hill professional community, near Cranbury Road, Route 18, Route 1, and the New Jersey Turnpike. Shared parking is available. Renovation timing is estimated at six months following permit approval, with final plans and scope subject to agreement and approvals.
The property is in East Brunswick's Brier Hill professional community, near Cranbury Road, Route 18, Route 1, and the New Jersey Turnpike. Shared parking is available. Renovation timing is estimated at six months following permit approval, with final plans and scope subject to agreement and approvals.
Key Highlights
- Approximately 1,800 square feet on the main level, currently an open shell
- Unfinished basement of approximately 1,800 square feet with two interior staircases
- Planned renovation includes HVAC, fire suppression, two bathrooms, and exam room sinks
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,540
Cap Rate
7.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$550,800
$550.8K
Cap Rate 7%
$393,429
$393.4K
Cap Rate 9%
$306,000
$306.0K
Market Conditions
NOI Build-Up for 1,800 SF
Gross rent
$54.0K $30.00/SF
− Vacancy
−$17.3K −$9.60/SF
EGI
$36.7K $20.40/SF
− OpEx
−$9.2K −$5.10/SF
NOI
$27.5K $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 Rate 5%
$550,800
Cap Rate 7%
$393,429
Cap Rate 9%
$306,000
Alternative Uses
Best Use
Office B
$393.4K
$344.3K – $459.0K
NOI $27,540 @ 7.0% cap · market cap 7.34%
Second Best
Healthcare Medical
$382.9K
$335.0K – $446.7K
NOI $26,801 @ 7.0% cap · market cap 7.15%
Theoretical Best
Office A
$470.0K
$411.3K – $548.4K
NOI $32,901 @ 7.0% cap · market cap 8.77%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Contact the owner directly
Get the owner's phone numbers and email
Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,045
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 08816, NJ
48,729
Population
17,242
Households
2.8
Avg Household Size
42
Median Age
58%
College-Educated
94%
High-School Grad
20.2 sq mi
ZIP Area
2,412
Density / Sq Mi
$141,731
Median Household Income
$71,111
Median Earnings
$2,079
Median Rent
$502,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Medical Office Space - A planned main-level renovation allows the interior configuration to be tailored to a medical or dental practice, subject to approvals.
Where is this medical office space located?
The property is located at 4 Cornwall Dr East Brunswick, NJ.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Approximately 1,800 square feet on the main level, currently an open shell; Unfinished basement of approximately 1,800 square feet with two interior staircases; Planned renovation includes HVAC, fire suppression, two bathrooms, and exam room sinks
