Updated Medical Office Corner
For Sale
$699,000
422 GRAND ST, Hoboken, NJ 07030
Multi-level corner office space formed from two condos, currently configured for medical use with flexible layout and two entrances.
Property Size1,380 SF
Price / SF$506.52
Days on Market132
Property Features for 422 GRAND ST
General Information
Standard status
Active
Size
1,380 SF
Property subtype
Office
Additional Details
Public Transit
Yes
Office Units
2
Building Details
Building Size
1,380 SF
Year Renovated
2020
Stories
2
Listing Agency:
KELLER WILLIAMS REALTY
(908) 233-8502
Listed By:
MICHAEL MARTINETTI · License #297275
(908) 233-8502
Source:
Propertiesbysouthern
Added: Mar 25
Changed: Jul 30
Last Checked: Aug 2 at 12:20PM
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 KELLER WILLIAMS REALTY
Investment Insights
Based on property information with market context.
An updated medical office corner space combining two condominium units into one expansive, multi-level office. The layout is designed for efficient client flow across two floors, currently set up for medical office use while remaining flexible for other service-oriented businesses.
Updated in 2020, the first level includes three private offices, a dedicated waiting room, and a half bathroom. The second level adds two additional offices, a second half bathroom, and a full kitchen that can support staff break room and light prep needs. In total, there are six rooms and two separate entrances, giving you flexibility to customize the flow for your business.
Located at the busy intersection of 5th Street and Grand Street in Hoboken, the property offers strong visibility and easy access to on-street parking. It’s also within a short walk of the light rail station, the historic Hoboken Terminal, and the Hoboken waterfront, supporting convenient commutes for both staff and clients.
With approximately 1,380 SF and a modernized interior, this space is positioned for immediate occupancy and adaptation to a wide range of professional uses.
Updated in 2020, the first level includes three private offices, a dedicated waiting room, and a half bathroom. The second level adds two additional offices, a second half bathroom, and a full kitchen that can support staff break room and light prep needs. In total, there are six rooms and two separate entrances, giving you flexibility to customize the flow for your business.
Located at the busy intersection of 5th Street and Grand Street in Hoboken, the property offers strong visibility and easy access to on-street parking. It’s also within a short walk of the light rail station, the historic Hoboken Terminal, and the Hoboken waterfront, supporting convenient commutes for both staff and clients.
With approximately 1,380 SF and a modernized interior, this space is positioned for immediate occupancy and adaptation to a wide range of professional uses.
Key Highlights
- Approximately 1,380 SF updated medical office corner space
- Updated in 2020
- Two floors with six rooms total
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 | $41.4k | $30.00 |
| − Vacancy | −$13.2k | −$9.60 |
| EGI | $28.2k | $20.40 |
| − OpEx | −$7.0k | −$5.10 |
| NOI | $21.1k | $15.30 |
1,380 SF · lease $30.00/SF/yr · vacancy 32.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$301.6K
$263.9K – $351.9K
NOI $21,114 @ 7.0% cap · market cap 3.02%
Second Best
Healthcare Medical
$293.5K
$256.9K – $342.5K
NOI $20,548 @ 7.0% cap · market cap 2.94%
Theoretical Best
Warehouse
$499.7K
$437.3K – $583.0K
NOI $34,980 @ 7.0% cap · market cap 5.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
3,270
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 07030, NJ
60,456
Population
29,985
Households
2
Avg Household Size
32
Median Age
83%
College-Educated
97%
High-School Grad
1.2 sq mi
ZIP Area
50,380
Density / Sq Mi
$176,943
Median Household Income
$105,359
Median Earnings
$2,819
Median Rent
$872,100
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?
Medical Office Space - Multi-level corner office space formed from two condos, currently configured for medical use with flexible layout and two entrances.
Where is this medical office space located?
The property is located at 422 GRAND ST Hoboken, NJ.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Approximately 1,380 SF updated medical office corner space; Updated in 2020; Two floors with six rooms total
