Assisted Living Facility With Safety
For Sale
Contact for pricing
600 Central Avenue # 04, Plainfield, NJ 07060
Three-level residential care property with furnished living areas, bedrooms, kitchens, and comprehensive life-safety equipment.
Property Size4,588 SF
Price / SF$305.14
Days on Market160
Property Features for 600 Central Avenue # 04
General Information
Standard status
Active
Size
4,588 SF
Total Parking Spaces
12
Property subtype
Special Purpose
Zoning
R-4
Additional Details
Highway Access
Yes
Sprinkler System
Yes
Amenities
comprehensive alarm system
interior and exterior video surveillance
fire extinguishers
smoke and carbon monoxide detectors
Building Details
Year Built
1900
Stories
3
Listing Agency:
KELLER WILLIAMS ELITE REALTORS
(732) 549-1998
Listed By:
SONNIA MAYORGA
Source:
Crexi
Added: Mar 25
Changed: Aug 30
Last Checked: Aug 30 at 6:01PM
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 4,588-square-foot residential health care facility was built in 1900 and is currently operating as an assisted living property. The three-level layout includes 12 beds, five bathrooms, a kitchen, living room, dining room, and additional kitchen space. The first floor contains two beds and two baths; the second floor has six beds and two baths; and the third floor provides four beds and one bath.
Safety infrastructure includes an alarm system, interior and exterior video surveillance, sprinklers, fire extinguishers, and smoke and carbon monoxide detectors serving the building, including the basement. The roof is approximately 2 years old, and the boiler is approximately 1 year old. The property is zoned R-4 and sits near Route 22, with access to Routes 287 and 78. Sale is on an as-is basis, with no repairs or credits from the seller.
Safety infrastructure includes an alarm system, interior and exterior video surveillance, sprinklers, fire extinguishers, and smoke and carbon monoxide detectors serving the building, including the basement. The roof is approximately 2 years old, and the boiler is approximately 1 year old. The property is zoned R-4 and sits near Route 22, with access to Routes 287 and 78. Sale is on an as-is basis, with no repairs or credits from the seller.
Key Highlights
- Currently operating residential health care facility with 12 beds
- 4,588 SF building constructed in 1900
- Three‑level layout includes 12 beds, five baths, kitchen, living room, and dining room
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
$56,988
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
4.07%
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%
$1,139,760
$1.1M
Cap Rate 7%
$814,114
$814.1K
Cap Rate 9%
$633,200
$633.2K
Market Conditions
NOI Build-Up for 4,588 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
$110.1K $24.00/SF
− Vacancy
−$6.5K −$1.42/SF
EGI
$103.6K $22.58/SF
− OpEx
−$46.6K −$10.16/SF
NOI
$57.0K $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%
$1,139,760
Cap Rate 7%
$814,114
Cap Rate 9%
$633,200
Alternative Uses
Best Use
Apartment 5plus
$814.1K
$712.4K – $949.8K
NOI $56,988 @ 7.0% cap · market cap 4.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $83,861 @ 7.0% cap · market cap 5.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Sprinkler system
Yes
Highway access
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 - Three-level residential care property with furnished living areas, bedrooms, kitchens, and comprehensive life-safety equipment.
Where is this assisted living facility located?
The property is located at 600 Central Avenue # 04 Plainfield, NJ.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Currently operating residential health care facility with 12 beds; 4,588 SF building constructed in 1900; Three‑level layout includes 12 beds, five baths, kitchen, living room, and dining room
