Office Building with Rear
For Sale
$465,000
54 Woodbridge Ave, Highland Park, NJ 08904
CBD office property with natural gas, on-site rear parking, and an unfinished full-level interior area.
Property Size1,408 SF
Days on Market12
Property Features for 54 Woodbridge Ave
General Information
Standard status
Active
Size
1,408 SF
Zoning
CBD
Taxes and HOA fees
Annual Taxes
$10,706
Amenities
Natural Gas
Full, Unfinished
On Street
Building Details
Building Size
1,408 SF
Listing Agency:
JOHN ANTHONY AGENCY C-21
(732) 501-7972
Listed By:
DOLORES ANDROVICH
(732) 501-7972
Source:
Evrealestate
Added: Jul 31
Changed: Aug 10
Last Checked: Aug 10 at 2:24AM
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 JOHN ANTHONY AGENCY C-21
Investment Insights
Based on property information with market context.
Office building at 54 Woodbridge Ave in Highland Park Boro, New Jersey, with CBD zoning and a full, unfinished interior area. The property has natural gas service and exterior on-street parking, with additional parking located behind the building. Existing signage identifies attorney and accountant users.
The building sits along Woodbridge Ave near Route 27 and next to an apartment property. Its location provides a recognizable commercial setting within the borough and direct roadway access. The combination of office zoning, rear parking, and unfinished interior space supports a range of office configurations subject to applicable approvals.
The building sits along Woodbridge Ave near Route 27 and next to an apartment property. Its location provides a recognizable commercial setting within the borough and direct roadway access. The combination of office zoning, rear parking, and unfinished interior space supports a range of office configurations subject to applicable approvals.
Key Highlights
- CBD zoning for an office building
- Full, unfinished interior area
- Natural gas service
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
$21,542
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
4.63%
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%
$430,840
$430.8K
Cap Rate 7%
$307,743
$307.7K
Cap Rate 9%
$239,356
$239.4K
Market Conditions
NOI Build-Up for 1,408 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
$42.2K $30.00/SF
− Vacancy
−$13.5K −$9.60/SF
EGI
$28.7K $20.40/SF
− OpEx
−$7.2K −$5.10/SF
NOI
$21.5K $15.30/SF
Area
Middlesex County, NJ
Vacancy
32.00%
Lease Rate
$30.00 /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%
$430,840
Cap Rate 7%
$307,743
Cap Rate 9%
$239,356
Alternative Uses
Best Use
Office B
$307.7K
$269.3K – $359.0K
NOI $21,542 @ 7.0% cap · market cap 4.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$367.7K
$321.7K – $428.9K
NOI $25,736 @ 7.0% cap · market cap 5.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,222
Businesses Nearby
Explore this area
Business Placement
Demographics for 08904, NJ
15,072
Population
6,858
Households
2.2
Avg Household Size
36
Median Age
70%
College-Educated
94%
High-School Grad
1.8 sq mi
ZIP Area
8,373
Density / Sq Mi
$101,991
Median Household Income
$58,786
Median Earnings
$1,881
Median Rent
$463,600
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 - CBD office property with natural gas, on-site rear parking, and an unfinished full-level interior area.
Where is this office building located?
The property is located at 54 Woodbridge Ave Highland Park, NJ.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: CBD zoning for an office building; Full, unfinished interior area; Natural gas service
