Renovated Office
For Sale
$265,900
542 County Route 515 #542, Vernon, NJ 07462
The property has been updated for office occupancy and is also identified for potential retail or food-service conversion.
Property Size600 SF
Price / SF$443.17
Days on Market261
Property Features for 542 County Route 515 #542
General Information
Standard status
Active
Size
600 SF
Property subtype
Commercial
Zoning
TC
Building Details
Building Size
600 SF
Year Built
1950
Stories
1
Units
1
Listing Agency:
Bhhs Gross And Jansen Realtors
Listed By:
Kevin Colman
(973) 764-5555
Source:
Cammarotarealestate
Added: Feb 4
Changed: Oct 22
Last Checked: Oct 22 at 2:34PM
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 Gross And Jansen Realtors
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1950 office property in Vernon Town Center was renovated for office use. The stated zoning designation is TC, and the property is identified as a possible candidate for conversion to retail sales or a food concept.
The owner is open to discussing lease arrangements based on the proposed term and use. The property is located at 542 County Route 515 in Vernon Township, New Jersey.
The owner is open to discussing lease arrangements based on the proposed term and use. The property is located at 542 County Route 515 in Vernon Township, New Jersey.
Key Highlights
- Renovated for office use
- TC zoning
- Located in Vernon Town Center
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,180
Cap Rate
3.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$183,600
$183.6K
Cap Rate 7%
$131,143
$131.1K
Cap Rate 9%
$102,000
$102.0K
Market Conditions
NOI Build-Up for 600 SF
Gross rent
$18.0K $30.00/SF
− Vacancy
−$5.8K −$9.60/SF
EGI
$12.2K $20.40/SF
− OpEx
−$3.1K −$5.10/SF
NOI
$9.2K $15.30/SF
Area
Sussex 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 Rate 5%
$183,600
Cap Rate 7%
$131,143
Cap Rate 9%
$102,000
Alternative Uses
Best Use
Office B
$131.1K
$114.8K – $153.0K
NOI $9,180 @ 7.0% cap · market cap 3.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$156.7K
$137.1K – $182.8K
NOI $10,967 @ 7.0% cap · market cap 4.12%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
173
Businesses Nearby
Explore this area
Business Placement
Demographics for 07462, NJ
6,670
Population
3,589
Households
1.9
Avg Household Size
43
Median Age
29%
College-Educated
97%
High-School Grad
17.0 sq mi
ZIP Area
392
Density / Sq Mi
$99,125
Median Household Income
$57,154
Median Earnings
$1,614
Median Rent
$252,600
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office building - The property has been updated for office occupancy and is also identified for potential retail or food-service conversion.
Where is this office building located?
The property is located at 542 County Route 515 #542 Vernon, NJ.
What is the asking price?
The asking price for this property is $265,900.
What are key features of this property?
This property features: Renovated for office use; TC zoning; Located in Vernon Town Center
