Professional Office
For Sale
$959,000
408 Us Highway 206, Hillsborough, NJ 08844
Office property offered with a modified gross lease structure and defined landlord and tenant responsibilities.
Property Size2,824 SF
Price / SF$339.59
Days on Market47
Property Features for 408 Us Highway 206
General Information
Standard status
Active
Size
2,824 SF
Building Details
Year Built
1958
Listing Agency:
WEICHERT REALTORS
Listed By:
JOHN KANABAY
(732) 710-0180
Source:
Luminancerealty
Added: Sep 18
Changed: Oct 26
Last Checked: Oct 5 at 11:33PM
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 WEICHERT REALTORS
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Investment Insights
Based on property information with market context.
This 2,824-square-foot office building was constructed in 1958 and is available for sale or lease. The property is suited to professional office use, with a modified gross lease structure available for tenants.
Under the stated lease arrangement, the landlord handles property taxes, structural items, and shared lawn service expenses. Tenants are responsible for utilities, HVAC systems, interior maintenance, trash, and snow removal. The property is located at 408 US Highway 206 in Hillsborough Twp., New Jersey 08844.
Under the stated lease arrangement, the landlord handles property taxes, structural items, and shared lawn service expenses. Tenants are responsible for utilities, HVAC systems, interior maintenance, trash, and snow removal. The property is located at 408 US Highway 206 in Hillsborough Twp., New Jersey 08844.
Key Highlights
- 2,824‑square‑foot office building
- Built in 1958
- Available for sale or lease
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,207
Cap Rate
4.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$864,140
$864.1K
Cap Rate 7%
$617,243
$617.2K
Cap Rate 9%
$480,078
$480.1K
Market Conditions
NOI Build-Up for 2,824 SF
Gross rent
$84.7K $30.00/SF
− Vacancy
−$27.1K −$9.60/SF
EGI
$57.6K $20.40/SF
− OpEx
−$14.4K −$5.10/SF
NOI
$43.2K $15.30/SF
Area
Somerset 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%
$864,140
Cap Rate 7%
$617,243
Cap Rate 9%
$480,078
Alternative Uses
Best Use
Office B
$617.2K
$540.1K – $720.1K
NOI $43,207 @ 7.0% cap · market cap 4.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$737.4K
$645.2K – $860.3K
NOI $51,618 @ 7.0% cap · market cap 5.38%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
789
Businesses Nearby
Explore this area
Business Placement
Demographics for 08844, NJ
43,333
Population
16,168
Households
2.7
Avg Household Size
42
Median Age
62%
College-Educated
96%
High-School Grad
55.2 sq mi
ZIP Area
785
Density / Sq Mi
$153,785
Median Household Income
$74,977
Median Earnings
$2,171
Median Rent
$537,300
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office building - Office property offered with a modified gross lease structure and defined landlord and tenant responsibilities.
Where is this office building located?
The property is located at 408 Us Highway 206 Hillsborough, NJ.
What is the asking price?
The asking price for this property is $959,000.
What are key features of this property?
This property features: 2,824‑square‑foot office building; Built in 1958; Available for sale or lease
