Renovated Three-Story Office
For Sale
Contact for pricing
407 State St, Hackensack, NJ 07601
Renovated three-story office building with onsite parking and multiple conference rooms, delivered vacant at closing.
Property Size4,748 SF
Price / SF$252.74
Days on Market145
Property Features for 407 State St
General Information
Standard status
Active
Size
4,748 SF
Property subtype
OFFICE
Additional Details
Highway Access
Yes
Amenities
onsite parking
conference rooms
kitchenette
executive full-bathroom with shower
Building Details
Stories
3
Listing Agency:
NAI James E. Hanson | Teterboro
(201) 488-5800
Listed By:
Jonathan M. Kristofich · License #1430420
(201) 478-7506
Source:
Moodyscre
Added: Apr 20
Changed: Aug 15
Last Checked: Sep 10 at 11:17AM
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 NAI James E. Hanson | Teterboro
Investment Insights
Based on property information with market context.
This recently renovated, three-story office building totals approximately 4,748 square feet, plus a partially finished basement. The interior features multiple conference rooms, executive offices, and general office space. Additional amenities include a well-appointed kitchenette and an executive full bathroom with a shower.
The property is located in downtown Hackensack, close to major highways. Public transit access is supported by proximity to the Anderson Street NJ Transit station and multiple bus routes traveling along State Street. Onsite parking is available.
The building will be delivered vacant at closing, offering flexibility for an investor or an end-user seeking an office facility in strong demand within the downtown area.
The property is located in downtown Hackensack, close to major highways. Public transit access is supported by proximity to the Anderson Street NJ Transit station and multiple bus routes traveling along State Street. Onsite parking is available.
The building will be delivered vacant at closing, offering flexibility for an investor or an end-user seeking an office facility in strong demand within the downtown area.
Key Highlights
- 3‑story ±4,748 SF office building with a partially finished basement, recently renovated
- Delivered vacant at closing
- Onsite parking plus multiple conference rooms and executive/general office space
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
$72,644
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
6.05%
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%
$1,452,880
$1.5M
Cap Rate 7%
$1,037,771
$1.0M
Cap Rate 9%
$807,156
$807.2K
Market Conditions
NOI Build-Up for 4,748 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
$142.4K $30.00/SF
− Vacancy
−$45.6K −$9.60/SF
EGI
$96.9K $20.40/SF
− OpEx
−$24.2K −$5.10/SF
NOI
$72.6K $15.30/SF
Area
Bergen 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 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%
$1,452,880
Cap Rate 7%
$1,037,771
Cap Rate 9%
$807,156
Alternative Uses
Best Use
Office B
$1.04M
$908.1K – $1.21M
NOI $72,644 @ 7.0% cap · market cap 6.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.24M
$1.08M – $1.45M
NOI $86,786 @ 7.0% cap · market cap 7.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,162
Businesses Nearby
Explore this area
Business Placement
Demographics for 07601, NJ
46,030
Population
21,405
Households
2.2
Avg Household Size
40
Median Age
42%
College-Educated
87%
High-School Grad
4.2 sq mi
ZIP Area
10,960
Density / Sq Mi
$82,212
Median Household Income
$50,265
Median Earnings
$1,794
Median Rent
$370,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Office building - Renovated three-story office building with onsite parking and multiple conference rooms, delivered vacant at closing.
Where is this office building located?
The property is located at 407 State St Hackensack, NJ.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 3‑story ±4,748 SF office building with a partially finished basement, recently renovated; Delivered vacant at closing; Onsite parking plus multiple conference rooms and executive/general office space
