Professional Office Space For
For Sale
$195,000
504 Hamburg #102B, Wayne, NJ 07470
Well-maintained 1,100 sq. ft. office space for professional use.
Property Size1,100 SF
Price / SF$177.27
Days on Market211
Property Features for 504 Hamburg #102B
General Information
Standard status
Active
Size
1,100 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$4,988
Amenities
Central Air Heating
Gas Heating
Hot Air Heating
Listing Agency:
KELLER WILLIAMS TEAM REALTY
(973) 253-2800
Listed By:
ALICIA ALARCON
Source:
Corcoran
Added: Jan 10
Changed: Aug 8
Last Checked: Apr 5 at 9:22PM
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 TEAM REALTY
Investment Insights
Based on property information with market context.
This well-maintained professional office space offers 1,100 sq. ft. and is suitable for medical, legal, accounting, or similar professional uses. The layout includes a bright, open-concept area with natural light, private offices, a reception area with a waiting area, and a breakroom/kitchenette. The space features modern finishes, neutral décor, durable flooring, HVAC, ample outlets, and high-speed internet capability. Secure access and ample on-site parking are available. The property is conveniently located near public transportation. The space is move-in ready and designed for productivity and client comfort. The seller is open to a lease option.
Key Highlights
- Move‑in ready, professional office space (1,100 sq. ft.) suitable for medical, legal, accounting, or similar uses.
- Bright, open‑concept area with natural light, private offices, reception/waiting area, and breakroom/kitchenette.
- Ample on‑site parking and convenient proximity to public transportation.
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
$16,830
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
8.63%
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%
$336,600
$336.6K
Cap Rate 7%
$240,429
$240.4K
Cap Rate 9%
$187,000
$187.0K
Market Conditions
NOI Build-Up for 1,100 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
$33.0K $30.00/SF
− Vacancy
−$10.6K −$9.60/SF
EGI
$22.4K $20.40/SF
− OpEx
−$5.6K −$5.10/SF
NOI
$16.8K $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%
$336,600
Cap Rate 7%
$240,429
Cap Rate 9%
$187,000
Alternative Uses
Best Use
Office B
$240.4K
$210.4K – $280.5K
NOI $16,830 @ 7.0% cap · market cap 8.63%
Second Best
Healthcare Medical
$234.0K
$204.7K – $273.0K
NOI $16,379 @ 7.0% cap · market cap 8.40%
Theoretical Best
Office A
$287.2K
$251.3K – $335.1K
NOI $20,106 @ 7.0% cap · market cap 10.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
719
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
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Well-maintained 1,100 sq. ft. office space for professional use.
Where is this medical office space located?
The property is located at 504 Hamburg #102B Wayne, NJ.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: Move‑in ready, professional office space (1,100 sq. ft.) suitable for medical, legal, accounting, or similar uses.; Bright, open‑concept area with natural light, private offices, reception/waiting area, and breakroom/kitchenette.; Ample on‑site parking and convenient proximity to public transportation.
