Free-Standing Office
40 Broad Palisades Park, NJ 07650
40 Broad, Palisades Park, NJ, 07650
$1,499,000
For Sale
$1,499,000
Free-standing office building with renovated systems and 7 on-site parking spaces, ready for immediate occupancy.
Property Size4,500 SF
Price / SF$333.11
Days on Market73
Property Features for 40 Broad
General Information
- Standard status
- Active
- Size
- 4,500 SF
- Property subtype
- Commercial
Listing agency
RE/MAX FORTUNE PROPERTIES
(201) 816-8889
Listed by
KENNETH KOH
Source
Corcoran
Added: May 12 Updated: Jul 22 at 9:40PM Checked: Jul 22 at 9:40PM
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 FORTUNE PROPERTIES
Investment Insights
Based on property information with market context.
This free-standing commercial office building was built in 1990 and offers approximately 4,500 square feet of versatile space arranged as 1,500 square feet per floor. The property has been comprehensively renovated top to bottom, with updated mechanical systems installed in 2018, including central A/C, heating, electrical, and windows. The building is described as ready for immediate occupancy.
The property is located at the premier intersection of Broad Ave and Route 46. It includes 7 dedicated on-site parking spaces.
With its two-floor configuration and recent major building-system updates, the space is well suited for continued office use by an owner-user or for purchase by an investor seeking a turnkey property.
The property is located at the premier intersection of Broad Ave and Route 46. It includes 7 dedicated on-site parking spaces.
With its two-floor configuration and recent major building-system updates, the space is well suited for continued office use by an owner-user or for purchase by an investor seeking a turnkey property.
Key Highlights
- Free‑standing commercial office building built in 1990, ready for immediate occupancy
- Approximately 4,500 sq. ft. total (1,500 sq. ft. per floor) with versatile space
- Comprehensive top‑to‑bottom renovation, with updated mechanical systems installed in 2018
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $135.0k | $30.00 |
| − Vacancy | −$43.2k | −$9.60 |
| EGI | $91.8k | $20.40 |
| − OpEx | −$23.0k | −$5.10 |
| NOI | $68.9k | $15.30 |
4,500 SF · lease $30.00/SF/yr · vacancy 32.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$983.6K
$860.6K – $1.15M
NOI $68,850 @ 7.0% cap · market cap 4.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.18M
$1.03M – $1.37M
NOI $82,253 @ 7.0% cap · market cap 5.49%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
ESL Academy Inc
Language School
Similar For Sale Nearby
FAQs
What type of property is this?
Office building - Free-standing office building with renovated systems and 7 on-site parking spaces, ready for immediate occupancy.
Where is this office building located?
The property is located at 40 Broad Palisades Park, NJ.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: Free‑standing commercial office building built in 1990, ready for immediate occupancy; Approximately 4,500 sq. ft. total (1,500 sq. ft. per floor) with versatile space; Comprehensive top‑to‑bottom renovation, with updated mechanical systems installed in 2018
