Three-Level Assisted Living
For Sale
$1,400,000
600 Central Avenue 04 Plainfield, Plainfield, NJ 07060
Configured with 12 beds, shared living areas, and comprehensive safety systems throughout the building.
Property Size4,588 SF
Price / SF$305.14
Days on Market61
Property Features for 600 Central Avenue 04 Plainfield
General Information
Standard status
Active
Size
4,588 SF
Total Parking Spaces
12
Zoning
R-4
Additional Details
Business Included
Yes
Sprinkler System
Yes
Taxes and HOA fees
Annual Taxes
$15,281
Amenities
comprehensive alarm system
interior and exterior video surveillance
fire extinguishers
smoke and carbon monoxide detectors
Laminate
true
3
Level
Public
12
159.00 x 0.00
On Site,Hard Surface
4588
Building Details
Building Size
4,588 SF
Year Built
1900
Stories
3
Abandoned
No
Listing Agency:
(732) 991-3166
Listed By:
Steven Bonavita · License #1429895
(732) 991-3166
Source:
Sbonavita.remax
Added: Jul 1
Changed: Aug 30
Last Checked: Aug 30 at 12:59PM
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 Steven Bonavita
Investment Insights
Based on property information with market context.
This three-level assisted living facility contains 4,588 SF and is arranged for residential health care use. The first floor includes 2 beds, 2 baths, a kitchen, living room, and dining room. The second level provides 6 beds and 2 baths, while the third floor adds 4 beds and 1 bath. The property is being sold as-is.
Safety and emergency features extend throughout the building, including the basement, with an alarm system, interior and exterior video surveillance, sprinklers, fire extinguishers, and smoke and carbon monoxide detectors. A roof installed 2 years ago and a 1-year-old boiler are also in place.
The property is located at 600 Central Avenue 04 in Plainfield, New Jersey, near Route 22 with access to Routes 287, 78, and 22. Local shops, dining, and everyday conveniences are nearby. Zoning is R-4.
Safety and emergency features extend throughout the building, including the basement, with an alarm system, interior and exterior video surveillance, sprinklers, fire extinguishers, and smoke and carbon monoxide detectors. A roof installed 2 years ago and a 1-year-old boiler are also in place.
The property is located at 600 Central Avenue 04 in Plainfield, New Jersey, near Route 22 with access to Routes 287, 78, and 22. Local shops, dining, and everyday conveniences are nearby. Zoning is R-4.
Key Highlights
- 4,588 SF assisted living facility arranged across three levels
- 12 beds, with 2 beds on the first floor, 6 on the second, and 4 on the third
- First‑floor kitchen, living room, dining room, 2 baths, and 2 beds
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
Turnkey business
Opportunity
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
1,387
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 - Configured with 12 beds, shared living areas, and comprehensive safety systems throughout the building.
Where is this assisted living facility located?
The property is located at 600 Central Avenue 04 Plainfield 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: 4,588 SF assisted living facility arranged across three levels; 12 beds, with 2 beds on the first floor, 6 on the second, and 4 on the third; First‑floor kitchen, living room, dining room, 2 baths, and 2 beds
