Office Units with
For Sale
$799,000
502 HAMBURG TPKE Unit 201, Wayne, NJ 07470
Three connected suites offer private entrances, high ceilings, glass walls, and shared parking within a professional office complex.
Property Size3,440 SF
Price / SF$232.27
Days on Market458
Property Features for 502 HAMBURG TPKE Unit 201
General Information
Standard status
Active
Size
3,440 SF
Property subtype
General Commercial
Financials
Gross Income
$38,196
HOA Fee
$1,224
Additional Details
Furnished
Yes
Office Units
3
Taxes and HOA fees
Annual Taxes
$10,120
Amenities
Central Air
Carpet
3
Asphalt Shingle
Parking.
Shared Driveway, Off Street, Lot.
.053 AC
Office Park.
Building Details
Year Built
1990
Tenancy
Multi
Listing Agency:
TERRIE O'CONNOR REALTORS
(973) 616-7377
Listed By:
LINDA TAKACH
(973) 616-7377
Source:
Xome
Added: May 29, 2025
Changed: Aug 29
Last Checked: Aug 29 at 2:18PM
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 TERRIE O'CONNOR REALTORS
Investment Insights
Based on property information with market context.
This 3,440-square-foot office configuration includes three consecutive corner suites, each with a separate entrance and private bathroom. Suite 201 is vacant and includes furnishings, a reception lounge, conference room seating for 10, collaborative workspace, private offices, and a kitchenette equipped with a refrigerator and microwave. High ceilings, extensive glass, carpet, and central air support a bright, open workplace setting.
Suites 202 and 203 are leased to a chiropractic practice under a two-year lease with options for two additional years. The property is part of Wayne Commons, a professional office complex near St. Joseph and Wayne hospitals, major routes, shops, and restaurants. The site is approximately 20 miles from New York City and includes shared parking with off-street parking in an office-park setting.
Built in 1990, the property offers a combination of owner-user space and existing leased occupancy within one connected office arrangement.
Suites 202 and 203 are leased to a chiropractic practice under a two-year lease with options for two additional years. The property is part of Wayne Commons, a professional office complex near St. Joseph and Wayne hospitals, major routes, shops, and restaurants. The site is approximately 20 miles from New York City and includes shared parking with off-street parking in an office-park setting.
Built in 1990, the property offers a combination of owner-user space and existing leased occupancy within one connected office arrangement.
Key Highlights
- 3,440 SF across three consecutive corner office suites
- Suite 201 is vacant and includes furnishings, reception lounge, conference room, offices, and kitchenette
- Suites 202‑203 are leased to a chiropractic practice with a 2‑year lease and option for 2 more yrs
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
$52,632
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
6.59%
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%
$1,052,640
$1.1M
Cap Rate 7%
$751,886
$751.9K
Cap Rate 9%
$584,800
$584.8K
Market Conditions
NOI Build-Up for 3,440 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
$103.2K $30.00/SF
− Vacancy
−$33.0K −$9.60/SF
EGI
$70.2K $20.40/SF
− OpEx
−$17.5K −$5.10/SF
NOI
$52.6K $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%
$1,052,640
Cap Rate 7%
$751,886
Cap Rate 9%
$584,800
Alternative Uses
Best Use
Office B
$751.9K
$657.9K – $877.2K
NOI $52,632 @ 7.0% cap · market cap 6.59%
Second Best
Healthcare Medical
$731.7K
$640.3K – $853.7K
NOI $51,220 @ 7.0% cap · market cap 6.41%
Theoretical Best
Office A
$898.3K
$786.0K – $1.05M
NOI $62,878 @ 7.0% cap · market cap 7.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
995
Businesses Nearby
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?
Office units - Three connected suites offer private entrances, high ceilings, glass walls, and shared parking within a professional office complex.
Where is this office units located?
The property is located at 502 HAMBURG TPKE Unit 201 Wayne, NJ.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 3,440 SF across three consecutive corner office suites; Suite 201 is vacant and includes furnishings, reception lounge, conference room, offices, and kitchenette; Suites 202‑203 are leased to a chiropractic practice with a 2‑year lease and option for 2 more yrs
