Turnkey Healthcare Facility
518 Central Avenue, Plainfield, NJ 07060
MULTI_FAMILY - Plainfield, NJ
Property size:
6,144 SFPrice / SF:
$244/SF- Added:
- Mar 24, 2026
- Days on Market:
- 54
- Last Refresh:
- May 16 at 2:06 am
Property Features for 518 Central Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R-4
- Parking
- 2
- Parking features
- On Street
- Interior features
- Appliances, Furniture
- Appliances
- Appliances
- Standard status
- Active
- APN
- 1200708000000006
- Size
- 6,144 SF
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 16591
Utilities
- Sewer type
- Public Sewer
- Heating system
- Steam
- Cooling system
- Window Unit(s)
- Water source
- Public
Building Details
- Year built
- 1900
- Floors in Building
- 3
- Flooring type
- Wood, Laminate
- Building materials
- Wood Siding
- Roof type
- Composition
Listing agent Sonnia Mayorga (732) 549-1998
Listing office KELLER WILLIAMS ELITE REALTORS 481 MEMORIAL PARKWAY, Metuchen, NJ (732) 549-1998
Listing date Mar 24, 2026
MLS# 2612741R
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.
HighLights
- Turnkey residential health care facility with established income potential.
- Comprehensive safety and security systems throughout, including alarm, video surveillance, sprinkler, and detectors.
- Ideally located minutes from Route 22 and close to Routes 287 and 78.
- Equipped to accommodate residential health care needs with multiple bedrooms and bathrooms on multiple floors.
- Proximity to local shops, dining, and everyday conveniences.
- Includes appliances and furniture.
Overview
This property, currently operating as a residential health care facility, presents a turnkey opportunity with established income potential. The building is equipped with safety and security systems throughout all levels, including the basement. These features include a comprehensive alarm system, interior and exterior video surveillance, a sprinkler system, fire extinguishers, and smoke and carbon monoxide detectors. The first floor contains 2 bedrooms, 1 bath, 1 staff room, a living room, dining room, and kitchen. The second floor has 6 beds and 2 baths, while the third floor offers 6 beds and 1 bath. The property is situated minutes from Route 22, providing proximity to local shops, dining, and everyday conveniences. It also offers connectivity to Routes 287, 78, and 22. The property is being sold as-is.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$848.0K
NOI $76,316 @ 9.00% cap · cautious / downside scenario
Moderate
$1.09M
NOI $76,316 @ 7.00% cap · market / base-case scenario
Aggressive
$1.53M
NOI $76,316 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Apartment 5plus
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $147.5k | $24.00 |
| − Vacancy | −$8.7k | −$1.42 |
| EGI | $138.8k | $22.58 |
| − OpEx | −$62.4k | −$10.16 |
| NOI | $76.3k | $12.42 |
6,144 SF · lease $24.00/SF/yr · vacancy 5.90% · expense 45.00%
Alternative Use Scenarios
Best Use
Apartment 5plus
$1.09M
$954.0K – $1.27M
NOI $76,316 @ 7.0% cap · market cap 5.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.60M
$1.40M – $1.87M
NOI $112,302 @ 7.0% cap · market cap 7.49%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Assisted living facilities
Similar Places Nearby
- Advocate Group Care — 602 Central Ave, Plainfield, NJ 07060
- Plainfield Tower West — 601 W 7th St, Plainfield, NJ 07060
Location Insight
- Map
- Local Demand
- City
- Plainfield
- County
- Somerset
- State
- New Jersey
- Longitude
- -74.4217038
- Latitude
- 40.6131686
Nearby Similar for Sale
FAQs
What type of property is this?
Assisted living facility - Established residential healthcare facility for sale near Route 22.
Where is this assisted living facility located?
The property is located at 518 Central Avenue Plainfield, NJ.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Turnkey residential health care facility with established income potential.; Comprehensive safety and security systems throughout, including alarm, video surveillance, sprinkler, and detectors.; Ideally located minutes from Route 22 and close to Routes 287 and 78.
