Three-Level Medical Office
For Sale
$2,000,050
450 Hamburg Turnpike, Wayne, NJ 07470
OB-L-zoned professional property with adaptable clinical and office layouts, on-site parking, and proximity to St. Joseph’s Wayne Medical Center.
Property Size8,800 SF
Price / SF$227.28
Days on Market116
Property Features for 450 Hamburg Turnpike
General Information
Standard status
Active
Size
8,800 SF
Total Parking Spaces
36
Property subtype
Office
Zoning
OB-L
Amenities
Central Air, A/C - Zone
3
Building Details
Buildings
1
Stories
3
Listing Agency:
CHRISTIE'S INTERNATIONAL REAL ESTATE GROUP-HOHOKUS-RIDGEWOOD EAST
(201) 396-0930
Listed By:
Vyacheslav Zborovsky
(201) 396-0930
Source:
Xome
Added: May 6
Changed: Aug 29
Last Checked: Aug 29 at 7:29PM
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 CHRISTIE'S INTERNATIONAL REAL ESTATE GROUP-HOHOKUS-RIDGEWOOD EAST
Investment Insights
Based on property information with market context.
This medical and professional office building contains approximately 8,800 square feet arranged across three levels. Approximately 5,600 square feet is available, concentrated on the first floor and lower level. The interior includes private offices, treatment rooms, reception areas, and open work areas that can support clinical, administrative, or multi-tenant operations. Central air conditioning with zone control is also provided.
The property is located at 450 Hamburg Turnpike in Wayne, New Jersey, along a heavily traveled commercial corridor. OB-L Office Business Limited zoning is in place, and the site includes approximately 36 on-site parking spaces. St. Joseph’s Wayne Medical Center is nearby, supporting the property’s relevance for medical, healthcare, therapy, rehabilitation, and related professional uses. Recent capital improvements and ongoing maintenance are noted in the property information.
The property is located at 450 Hamburg Turnpike in Wayne, New Jersey, along a heavily traveled commercial corridor. OB-L Office Business Limited zoning is in place, and the site includes approximately 36 on-site parking spaces. St. Joseph’s Wayne Medical Center is nearby, supporting the property’s relevance for medical, healthcare, therapy, rehabilitation, and related professional uses. Recent capital improvements and ongoing maintenance are noted in the property information.
Key Highlights
- Approximately 8,800 square feet across three levels
- Approximately 5,600 square feet currently available on the first floor and lower level
- Private offices, treatment rooms, reception areas, and flexible open workspaces
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
$134,640
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
6.73%
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%
$2,692,800
$2.7M
Cap Rate 7%
$1,923,429
$1.9M
Cap Rate 9%
$1,496,000
$1.5M
Market Conditions
NOI Build-Up for 8,800 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
$264.0K $30.00/SF
− Vacancy
−$84.5K −$9.60/SF
EGI
$179.5K $20.40/SF
− OpEx
−$44.9K −$5.10/SF
NOI
$134.6K $15.30/SF
Area
Passaic 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%
$2,692,800
Cap Rate 7%
$1,923,429
Cap Rate 9%
$1,496,000
Alternative Uses
Best Use
Office B
$1.92M
$1.68M – $2.24M
NOI $134,640 @ 7.0% cap · market cap 6.73%
Second Best
Healthcare Medical
$1.87M
$1.64M – $2.18M
NOI $131,028 @ 7.0% cap · market cap 6.55%
Theoretical Best
Office A
$2.30M
$2.01M – $2.68M
NOI $160,850 @ 7.0% cap · market cap 8.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
911
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 07470, NJ
55,284
Population
19,396
Households
2.9
Avg Household Size
43
Median Age
57%
College-Educated
96%
High-School Grad
23.9 sq mi
ZIP Area
2,313
Density / Sq Mi
$151,561
Median Household Income
$70,100
Median Earnings
$2,126
Median Rent
$596,700
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?
Medical Office Space - OB-L-zoned professional property with adaptable clinical and office layouts, on-site parking, and proximity to St. Joseph’s Wayne Medical Center.
Where is this medical office space located?
The property is located at 450 Hamburg Turnpike Wayne, NJ.
What is the asking price?
The asking price for this property is $2,000,050.
What are key features of this property?
This property features: Approximately 8,800 square feet across three levels; Approximately 5,600 square feet currently available on the first floor and lower level; Private offices, treatment rooms, reception areas, and flexible open workspaces
