Built-Out Office
For Sale
$359,999
402-2 State Route 27, Edison, NJ 08820
Three private offices, reception space, and a kitchenette support professional or medical occupancy.
Property Size873 SF
Price / SF$412.37
Days on Market77
Property Features for 402-2 State Route 27
General Information
Standard status
Active
Size
873 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Additional Details
Office Units
1
Taxes and HOA fees
Annual Taxes
$5,977
Building Details
Stories
5
Listing Agency:
EXP REALTY, LLC
(609) 731-5536
Listed By:
JOHN A. TEREBEY
(609) 731-5536
Source:
Exprealty
Added: Jun 16
Changed: Aug 30
Last Checked: Aug 30 at 6:50PM
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 EXP REALTY, LLC
Investment Insights
Based on property information with market context.
This 873 SF office unit occupies space within the five-story Levinson Plaza and is configured for immediate professional or medical use. The layout includes three private offices, a reception area, and a kitchenette, creating a practical suite for an office user or provider.
The property is positioned just off Route 27 in Edison, NJ, adjacent to JFK Medical Center. Metropark Station and several major roadways are nearby, including Route 287, Route 1, the Garden State Parkway, and the New Jersey Turnpike. On-site parking is available, and the suite is offered for sale or lease.
The property is positioned just off Route 27 in Edison, NJ, adjacent to JFK Medical Center. Metropark Station and several major roadways are nearby, including Route 287, Route 1, the Garden State Parkway, and the New Jersey Turnpike. On-site parking is available, and the suite is offered for sale or lease.
Key Highlights
- 873 SF office unit in the five‑story Levinson Plaza
- Three private offices with reception area and kitchenette
- Fully built‑out layout for professional or medical use
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
$14,260
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
3.96%
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%
$285,200
$285.2K
Cap Rate 7%
$203,714
$203.7K
Cap Rate 9%
$158,444
$158.4K
Market Conditions
NOI Build-Up for 873 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
$23.0K $26.40/SF
− Vacancy
−$4.0K −$4.62/SF
EGI
$19.0K $21.78/SF
− OpEx
−$4.8K −$5.44/SF
NOI
$14.3K $16.33/SF
Area
Edison, NJ
Vacancy
17.50%
Lease Rate
$26.40 /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%
$285,200
Cap Rate 7%
$203,714
Cap Rate 9%
$158,444
Alternative Uses
Best Use
Office B
$203.7K
$178.3K – $237.7K
NOI $14,260 @ 7.0% cap · market cap 3.96%
Second Best
Healthcare Medical
$175.4K
$153.5K – $204.6K
NOI $12,276 @ 7.0% cap · market cap 3.41%
Theoretical Best
Office A
$282.9K
$247.6K – $330.1K
NOI $19,806 @ 7.0% cap · market cap 5.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,904
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
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 - Three private offices, reception space, and a kitchenette support professional or medical occupancy.
Where is this office units located?
The property is located at 402-2 State Route 27 Edison, NJ.
What is the asking price?
The asking price for this property is $359,999.
What are key features of this property?
This property features: 873 SF office unit in the five‑story Levinson Plaza; Three private offices with reception area and kitchenette; Fully built‑out layout for professional or medical use
