Vacant Office
For Sale
$675,000
601 Broadway, Bayonne, NJ 07002
Two-story vacant office building offering a turnkey option for an owner-occupant or incoming tenant.
Property Size2,184 SF
Price / SF$309.07
Days on Market53
Property Features for 601 Broadway
General Information
Standard status
Active
Size
2,184 SF
Property subtype
Office
Building Details
Building Size
2,184 SF
Listing Agency:
(908) 692-7633
Listed By:
Daniel Lanni
Source:
Kislakrealty
Added: Jun 18
Changed: Aug 8
Last Checked: Aug 9 at 6:02AM
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 Daniel Lanni
Investment Insights
Based on property information with market context.
The property is a vacant office building totaling 2,184± square feet. The building is currently available in an unoccupied condition, providing a straightforward setup for a tenant looking to customize interiors or for an owner-operator seeking an immediate occupancy timeline.
Located along Bayonne’s main commercial corridor, the property benefits from high-visibility street frontage on Broadway. It is described as being minutes from the Hudson-Bergen Light Rail, supporting convenient access for employees and visitors.
As an office asset with dedicated building size and street presence, it can suit a range of professional uses that require a standalone address and direct frontage. Being vacant simplifies the leasing or re-tenanting process, and the location near transit can be a practical factor for tenant operations that rely on daily commute access.
Located along Bayonne’s main commercial corridor, the property benefits from high-visibility street frontage on Broadway. It is described as being minutes from the Hudson-Bergen Light Rail, supporting convenient access for employees and visitors.
As an office asset with dedicated building size and street presence, it can suit a range of professional uses that require a standalone address and direct frontage. Being vacant simplifies the leasing or re-tenanting process, and the location near transit can be a practical factor for tenant operations that rely on daily commute access.
Key Highlights
- 2,184± SF vacant two‑story office building
- Former RWJBarnabas Health site
- High‑visibility street frontage along Bayonne’s main commercial corridor
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
$33,415
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
4.95%
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%
$668,300
$668.3K
Cap Rate 7%
$477,357
$477.4K
Cap Rate 9%
$371,278
$371.3K
Market Conditions
NOI Build-Up for 2,184 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
$65.5K $30.00/SF
− Vacancy
−$21.0K −$9.60/SF
EGI
$44.6K $20.40/SF
− OpEx
−$11.1K −$5.10/SF
NOI
$33.4K $15.30/SF
Area
Hudson 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%
$668,300
Cap Rate 7%
$477,357
Cap Rate 9%
$371,278
Alternative Uses
Best Use
Office B
$477.4K
$417.7K – $556.9K
NOI $33,415 @ 7.0% cap · market cap 4.95%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$790.8K
$692.0K – $922.7K
NOI $55,359 @ 7.0% cap · market cap 8.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,140
Businesses Nearby
Explore this area
Business Placement
Demographics for 07002, NJ
71,686
Population
30,161
Households
2.4
Avg Household Size
38
Median Age
40%
College-Educated
91%
High-School Grad
5.8 sq mi
ZIP Area
12,360
Density / Sq Mi
$81,285
Median Household Income
$51,157
Median Earnings
$1,593
Median Rent
$446,100
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 - Two-story vacant office building offering a turnkey option for an owner-occupant or incoming tenant.
Where is this office building located?
The property is located at 601 Broadway Bayonne, NJ.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 2,184± SF vacant two‑story office building; Former RWJBarnabas Health site; High‑visibility street frontage along Bayonne’s main commercial corridor
