Assisted Living
New
For Sale
$1,300,000
518 Central Ave, Plainfield, NJ 07060
The sale encompasses the real estate, operating business, and facility license.
Property Size6,144 SF
Price / SF$211.59
Days on Market7
Property Features for 518 Central Ave
General Information
Standard status
Active
Size
6,144 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Highway Access
Yes
Sprinkler System
Yes
Taxes and HOA fees
Annual Taxes
$16,959
Amenities
comprehensive alarm system
interior and exterior video surveillance
fire extinguishers
smoke and carbon monoxide detectors
Central air
Asphalt Shingle Roof
1 Unit Heating
Off-Street Parking
Radiators - Hot Water Heating
Wall A/C Unit(s) Cooling
Building Details
Year Built
1900
Listing Agency:
KELLER WILLIAMS ELITE REALTORS
(732) 549-1998
Listed By:
SONNIA D. MAYORGA
(732) 208-3890
Source:
Corcoran
Added: Oct 11
Changed: Oct 16
Last Checked: Oct 16 at 9:02AM
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 ELITE REALTORS
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This operating residential health care facility is offered with its business and license. Built in 1900, the property has three levels: the first includes two bedrooms, one bathroom, a staff room, living room, dining room, and kitchen; the second has six beds and two bathrooms; the third has six beds and one bathroom. Safety features include alarms, interior and exterior video surveillance, sprinklers, fire extinguishers, and smoke and carbon monoxide detectors. The basement is also included in the facility’s safety and security coverage.
At 518 Central Ave in Plainfield City, the property is minutes from Route 22, with access to Routes 287, 78, and 22. Local shops, dining, and everyday services are nearby.
At 518 Central Ave in Plainfield City, the property is minutes from Route 22, with access to Routes 287, 78, and 22. Local shops, dining, and everyday services are nearby.
Key Highlights
- Sale includes the real estate, operating business, and license
- Three‑level care facility with 14 beds
- First floor includes 2 bedrooms, 1 bath, staff room, living room, dining room, and kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$76,316
Cap Rate
5.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,526,320
$1.5M
Cap Rate 7%
$1,090,229
$1.1M
Cap Rate 9%
$847,956
$848.0K
Market Conditions
NOI Build-Up for 6,144 SF
Gross rent
$147.5K $24.00/SF
− Vacancy
−$8.7K −$1.42/SF
EGI
$138.8K $22.58/SF
− OpEx
−$62.4K −$10.16/SF
NOI
$76.3K $12.42/SF
Area
Somerset County, NJ
Vacancy
5.90%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,526,320
Cap Rate 7%
$1,090,229
Cap Rate 9%
$847,956
Alternative Uses
Best Use
Apartment 5plus
$1.09M
$954.0K – $1.27M
NOI $76,316 @ 7.0% cap · market cap 5.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.60M
$1.40M – $1.87M
NOI $112,302 @ 7.0% cap · market cap 8.64%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Turnkey business
Opportunity
Yes
Sprinkler system
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,936
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 07060, NJ
48,423
Population
16,154
Households
3
Avg Household Size
35
Median Age
22%
College-Educated
74%
High-School Grad
5.0 sq mi
ZIP Area
9,685
Density / Sq Mi
$72,882
Median Household Income
$32,867
Median Earnings
$1,629
Median Rent
$369,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Similar Off Market Nearby
- Shirlynn House — 1275 Arlington Ave, Plainfield, NJ 07060
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- Advocate Group Care — 602 Central Ave, Plainfield, NJ 07060
Frequently Asked Questions
What type of property is this?
Assisted living facility - The sale encompasses the real estate, operating business, and facility license.
Where is this assisted living facility located?
The property is located at 518 Central Ave Plainfield, NJ.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Sale includes the real estate, operating business, and license; Three‑level care facility with 14 beds; First floor includes 2 bedrooms, 1 bath, staff room, living room, dining room, and kitchen
