Turnkey Residential Healthcare
For Sale
$1,500,000
518 Central Avenue Unit 22, Plainfield, NJ 07060
Operating residential healthcare facility for sale near Route 22.
Property Size6,144 SF
Price / SF$244.14
Days on Market327
Property Features for 518 Central Avenue Unit 22
General Information
Standard status
Active
Size
6,144 SF
Property subtype
Commercial
Building Details
Year Built
1900
Listing Agency:
KELLER WILLIAMS ELITE REALTORS
Listed By:
SONNIA D. MAYORGA
(732) 549-1998
Source:
Actionplusrealty
Added: Oct 13, 2025
Changed: Sep 3
Last Checked: Sep 1 at 9:26PM
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
Investment Insights
Based on property information with market context.
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 features 6 beds and 2 baths, while the third floor includes 6 beds and 1 bath. The property is situated minutes from Route 22, with proximity to local shops, dining, and everyday conveniences. It also offers convenient access to Routes 287, 78, and 22. The property is being sold as-is, without repairs or credits from the seller.
Key Highlights
- Turnkey residential health care facility with established income potential.
- Fully equipped with comprehensive safety and security systems throughout, including alarm, video surveillance, sprinkler, and fire safety features.
- Ideal location minutes from Route 22 and with easy access to Routes 287 and 78.
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
$76,316
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
5.09%
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%
$1,526,320
$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
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
$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 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%
$1,526,320
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 5.09%
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 authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Assisted living facility - Operating residential healthcare facility for sale near Route 22.
Where is this assisted living facility located?
The property is located at 518 Central Avenue Unit 22 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.; Fully equipped with comprehensive safety and security systems throughout, including alarm, video surveillance, sprinkler, and fire safety features.; Ideal location minutes from Route 22 and with easy access to Routes 287 and 78.
