Four-Unit Medical Office
515 CHURCH ST Unit 515 Bound Brook, NJ 08805
For Sale
$1,399,000
Corner four-unit medical office building with abundant parking and 100% occupancy.
Property Size7,226 SF
Price / SF$193.61
Days on Market967
Property Features for 515 CHURCH ST Unit 515
General Information
- Standard status
- Active
- Size
- 7,226 SF
- Property subtype
- General Commercial
Building Details
- Year Built
- 1968
Listing Agency:
BHHS FOX & ROACH
(908) 938-6405
Listed By:
TIM DELUCCIA
(908) 938-6405
Source:
Xome
Added: Nov 30, 2023
Changed: Jul 23
Last Checked: Jul 24 at 5:27AM
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 BHHS FOX & ROACH
Investment Insights
Based on property information with market context.
This four-unit professional medical office building offers a corner configuration and abundant parking. The property is currently 100% leased, making it well suited for an investor seeking steady income or an owner-user looking for medical and/or general office space.
The building is located at 515 Church St, Unit 515 in Bound Brook, NJ 08805. Public remarks note convenient access to RT 28, 22, I-287, and RWJ University Hospital Somerset.
For sale with an indicated NOI of $89,626.48 and a stated 6% cap rate, the property provides an income-focused option centered on a multi-tenant medical office setup.
The building is located at 515 Church St, Unit 515 in Bound Brook, NJ 08805. Public remarks note convenient access to RT 28, 22, I-287, and RWJ University Hospital Somerset.
For sale with an indicated NOI of $89,626.48 and a stated 6% cap rate, the property provides an income-focused option centered on a multi-tenant medical office setup.
Key Highlights
- 4‑unit professional medical building in an office park with corner lot positioning
- 100% leased occupancy, priced with NOI of $89,626.48 and a stated 6% cap rate
- Abundant parking and parking on‑site; lot sizes include 130' x 200' (130X200, 130X200)
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 | $216.8k | $30.00 |
| − Vacancy | −$69.4k | −$9.60 |
| EGI | $147.4k | $20.40 |
| − OpEx | −$36.9k | −$5.10 |
| NOI | $110.6k | $15.30 |
7,226 SF · lease $30.00/SF/yr · vacancy 32.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.58M
$1.38M – $1.84M
NOI $110,558 @ 7.0% cap · market cap 7.90%
Second Best
Healthcare Medical
$1.54M
$1.34M – $1.79M
NOI $107,592 @ 7.0% cap · market cap 7.69%
Theoretical Best
Office A
$1.89M
$1.65M – $2.20M
NOI $132,080 @ 7.0% cap · market cap 9.44%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Medical Office Space
Similar Off Market Nearby
- Bound Brook Veterinary Clinic — 95 Union Ave, Middlesex, NJ 08846
- George Randall, DVM — 95 Union Ave, Middlesex, NJ 08846
- Roseline Cuevas - Bound Brook Veterinary Clinic — 95 Union Ave, Middlesex, NJ 08846
- Ana Amato - Bound Brook Veterinary Clinic — 95 Union Ave, Middlesex, NJ 08846
- David Schroepfer - Bound Brook Veterinary Clinic — 95 Union Ave, Middlesex, NJ 08846
FAQs
What type of property is this?
Medical Office Space - Corner four-unit medical office building with abundant parking and 100% occupancy.
Where is this medical office space located?
The property is located at 515 CHURCH ST Unit 515 Bound Brook, NJ.
What is the asking price?
The asking price for this property is $1,399,000.
What are key features of this property?
This property features: 4‑unit professional medical building in an office park with corner lot positioning; 100% leased occupancy, priced with NOI of $89,626.48 and a stated 6% cap rate; Abundant parking and parking on‑site; lot sizes include 130' x 200' (130X200, 130X200)
