Turnkey Residential Healthcare
For Sale
$1,400,000
600 Central Avenue, Plainfield, NJ 07060
MULTI_FAMILY - Plainfield, NJ
Property Size4,588 SF
Price / SF$305.14
Days on Market144
Property Features for 600 Central Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-4
Parking
12
Lot features
Level
Directions
GPS to 600 Central Ave.
Standard status
Active
APN
1200709000000002
Size
4,588 SF
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
15281
Utilities
Heating system
Steam
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1900
Floors in Building
3
Flooring type
Laminate
Roof type
Composition
Listing Agency:
KELLER WILLIAMS ELITE REALTORS · Keller Williams Realty
(732) 549-1998
Listed By:
Sonnia Mayorga
(732) 549-1998
Added: Mar 24
Changed: May 14
Last Checked: Aug 14 at 10:06PM
MLS# 2612747R
Copyright © 2026 All Jersey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This property is currently operating as a residential health care facility. It is equipped with safety and security systems throughout all levels, including the basement. Features include an alarm system, interior and exterior video surveillance, a sprinkler system, fire extinguishers, and smoke and carbon monoxide detectors. The first floor contains 2 beds, 2 baths, a kitchen, a living room, and a dining room. The second floor has 6 beds and 2 baths, while the third floor includes 4 beds and 1 bath. The property is located minutes from Route 22, with proximity to local shops, dining, and everyday conveniences, and easy access to Routes 287, 78, and 22. The roof is 2 years old and the boiler is 1 year old. The property has a size of 4588 square feet and is zoned R-4.
Key Highlights
- Turnkey residential health care facility with established income potential.
- Comprehensive safety and security systems throughout, including alarm, video surveillance, sprinkler system, and detectors.
- Ideal location minutes from Route 22 and with easy access to Routes 287, 78, and 22, local shops, and dining.
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
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,237
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Assisted living facility - Established income potential near Route 22 and local amenities.
Where is this assisted living facility located?
The property is located at 600 Central Avenue 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: Turnkey residential health care facility with established income potential.; Comprehensive safety and security systems throughout, including alarm, video surveillance, sprinkler system, and detectors.; Ideal location minutes from Route 22 and with easy access to Routes 287, 78, and 22, local shops, and dining.
