Versatile Commercial Building on
For Sale
$435,000
522 MEMORIAL PKWY, Phillipsburg, NJ 08865
Two-story commercial building with flexible layout and highway visibility.
Property Size1,764 SF
Price / SF$246.60
Days on Market253
Property Features for 522 MEMORIAL PKWY
General Information
Standard status
Active
Size
1,764 SF
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$7,854
Amenities
3
Carpet, Wood
Asphalt Shingle
B-1 & B-2
6 Parking Spaces. 2 Car Garage.
Level
.239 ACRE
Central Business District, Highway Access, Level.
Building Details
Year Built
1921
Listing Agency:
BHHS FOX & ROACH
(908) 735-9700
Listed By:
JOHN H. CARRIERE
(908) 581-0300
Source:
Xome
Added: Dec 24, 2025
Changed: Sep 2
Last Checked: Sep 2 at 1:25PM
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 two-story commercial building offers a versatile layout suitable for a range of professional uses. Previously used as an attorney's office, the property features a spacious reception area, multiple conference rooms, private offices, and a full bathroom on the first floor. The main office includes wall-to-wall built-in wooden bookcases. The second floor provides additional private offices, a kitchenette, and another bathroom, accommodating multi-department operations or shared professional use. The building is serviced by two electric meters, offering utility flexibility. Heating is provided by oil, with natural gas available in the street for a potential upgrade. Additional features include ample private parking, excellent highway visibility and signage, and public utilities. The property, with a size of 1764 square feet, was previously a residential two-family home, offering potential for conversion or mixed-use with proper municipal approvals. It is located in a prime highway location and is well-maintained.
Key Highlights
- Prime highway location with excellent visibility and signage.
- Versatile two‑story layout suitable for various professional uses or potential conversion.
- Ample private parking.
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
$27,767
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
6.38%
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%
$555,340
$555.3K
Cap Rate 7%
$396,671
$396.7K
Cap Rate 9%
$308,522
$308.5K
Market Conditions
NOI Build-Up for 1,764 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
$46.6K $26.40/SF
− Vacancy
−$9.5K −$5.41/SF
EGI
$37.0K $20.99/SF
− OpEx
−$9.3K −$5.25/SF
NOI
$27.8K $15.74/SF
Area
Warren County, NJ
Vacancy
20.50%
Lease Rate
$26.40 /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%
$555,340
Cap Rate 7%
$396,671
Cap Rate 9%
$308,522
Alternative Uses
Best Use
Office B
$396.7K
$347.1K – $462.8K
NOI $27,767 @ 7.0% cap · market cap 6.38%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$665.5K
$582.3K – $776.4K
NOI $46,586 @ 7.0% cap · market cap 10.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,086
Businesses Nearby
Explore this area
Business Placement
Demographics for 08865, NJ
30,537
Population
14,146
Households
2.2
Avg Household Size
42
Median Age
29%
College-Educated
93%
High-School Grad
41.5 sq mi
ZIP Area
736
Density / Sq Mi
$78,519
Median Household Income
$49,811
Median Earnings
$1,248
Median Rent
$244,200
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Two-story commercial building with flexible layout and highway visibility.
Where is this office building located?
The property is located at 522 MEMORIAL PKWY Phillipsburg, NJ.
What is the asking price?
The asking price for this property is $435,000.
What are key features of this property?
This property features: Prime highway location with excellent visibility and signage.; Versatile two‑story layout suitable for various professional uses or potential conversion.; Ample private parking.
