Three-Floor Office
For Sale
Under Contract
$995,000
467 Middlesex Avenue, Metuchen, NJ 08840
COMMERCIAL - Metuchen, NJ
Property Size2,964 SF
Lot Size0.26 Acres
Price / SF$335.70
Days on Market128
Property Features for 467 Middlesex Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R1
Parking
8
Interior features
Refrigeration, Carpeting, Dropped Ceiling
Appliances
Refrigeration
Lot features
Near Shopping, Near Train, Highway Commercial
Directions
Rt 27, across Metuchen library
Standard status
Active Under Contract
APN
0900117000000084
Size
2,964 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
18377
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Radiant
Cooling system
Central Air, Ceiling Fan(s)
Water source
Public
Building Details
Floors in Building
3
Flooring type
Carpet, Wood, Tile - Ceramic, Dropped ceiling, Tile
Building materials
Wood Siding
Roof type
Asphalt
Listing Agency:
ON TRACK REALTY
(732) 494-2211
Listed By:
Sanjeev Aneja
732-494-2211x111
Added: Apr 8
Changed: Aug 4
Last Checked: Aug 13 at 9:06AM
MLS# 2613479R
Copyright © 2026 All Jersey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This three-floor office building at 467 Middlesex Avenue in Metuchen is currently used as a law office and offers flexible office space for other office users. The layout includes 10+ offices, a large conference room, and 3 bathrooms, along with central cooling and zoned heating. The property has 3 central AC units and 6 zone baseboard heat, plus interior finishes including dropped ceilings, carpeting, and tile, with refrigeration and wood siding as noted improvements. Heating is provided via radiant and baseboard systems, and the roof is asphalt.
Set on a 0.2599-acre lot with public water and public sewer, the building includes its own parking. It is described as being on a well-traveled highway, with close proximity to the train and easy access to major highways.
Zoned R1, this property is set up for office use and can support an owner-occupant or office tenancy seeking a multi-floor configuration with multiple offices and conference space.
Set on a 0.2599-acre lot with public water and public sewer, the building includes its own parking. It is described as being on a well-traveled highway, with close proximity to the train and easy access to major highways.
Zoned R1, this property is set up for office use and can support an owner-occupant or office tenancy seeking a multi-floor configuration with multiple offices and conference space.
Key Highlights
- 0.2599‑acre lot with 2,964 SF office building
- Three floors with 10+ offices and a large conference room
- 3 bathrooms
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
$45,349
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
4.56%
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%
$906,980
$907.0K
Cap Rate 7%
$647,843
$647.8K
Cap Rate 9%
$503,878
$503.9K
Market Conditions
NOI Build-Up for 2,964 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
$88.9K $30.00/SF
− Vacancy
−$28.5K −$9.60/SF
EGI
$60.5K $20.40/SF
− OpEx
−$15.1K −$5.10/SF
NOI
$45.3K $15.30/SF
Area
Middlesex 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%
$906,980
Cap Rate 7%
$647,843
Cap Rate 9%
$503,878
Alternative Uses
Best Use
Office B
$647.8K
$566.9K – $755.8K
NOI $45,349 @ 7.0% cap · market cap 4.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$774.0K
$677.2K – $903.0K
NOI $54,177 @ 7.0% cap · market cap 5.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,049
Businesses Nearby
Explore this area
Business Placement
Demographics for 08840, NJ
17,841
Population
6,552
Households
2.7
Avg Household Size
42
Median Age
62%
College-Educated
95%
High-School Grad
3.2 sq mi
ZIP Area
5,575
Density / Sq Mi
$150,938
Median Household Income
$72,765
Median Earnings
$1,994
Median Rent
$517,700
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Three-floor office building with central air and baseboard heat, zoned R1, on 0.2599 acres with public water and sewer.
Where is this office building located?
The property is located at 467 Middlesex Avenue Metuchen, NJ.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 0.2599‑acre lot with 2,964 SF office building; Three floors with 10+ offices and a large conference room; 3 bathrooms
