Versatile Office/Residential
655 Rahway Avenue, Woodbridge, NJ 07095
For Sale
Contact for pricing
Office or residential use in residential area.
Property Size1,272 SF
Lot Size0.43 Acres
Price / SF$376.97
Days on Market810
Property Features for 655 Rahway Avenue
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Building Details
Year Built
Stories
Listing Agency:
HOWARD HANNA RAND REALTY
Listed By:
Jose Perez
(973) 943-3321
Source:
Crexi
Added: Aug 22, 2024
Changed: Oct 25
Last Checked: Aug 14 at 5:58AM
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 HOWARD HANNA RAND REALTY
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This property, previously used as a real estate office, offers versatility for either office or residential use. It is located in a residential area but is grandfathered in for office use, allowing it to remain as an office. The layout includes a welcoming or waiting area and four separate offices, with two located downstairs and two upstairs. A full, unfinished basement provides potential for storage or additional space. The property sits on a large lot measuring 60 feet by 308 feet, offering ample outdoor area. The property size is 1272 square feet.
Key Highlights
- Grandfathered commercial use in a residential zone allows for continued office operation.
- Versatile property suitable for either office or residential use.
- Four separate offices (two upstairs, two downstairs).
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,462
Cap Rate
4.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$389,240
$389.2K
Cap Rate 7%
$278,029
$278.0K
Cap Rate 9%
$216,244
$216.2K
Market Conditions
NOI Build-Up for 1,272 SF
Gross rent
$38.2K $30.00/SF
− Vacancy
−$12.2K −$9.60/SF
EGI
$25.9K $20.40/SF
− OpEx
−$6.5K −$5.10/SF
NOI
$19.5K $15.30/SF
Area
Middlesex 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%
$389,240
Cap Rate 7%
$278,029
Cap Rate 9%
$216,244
Alternative Uses
Best Use
Office B
$278.0K
$243.3K – $324.4K
NOI $19,462 @ 7.0% cap · market cap 4.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$332.1K
$290.6K – $387.5K
NOI $23,250 @ 7.0% cap · market cap 4.85%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
652
Businesses Nearby
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Business Placement
Demographics for 07095, NJ
19,839
Population
8,132
Households
2.4
Avg Household Size
39
Median Age
34%
College-Educated
92%
High-School Grad
4.6 sq mi
ZIP Area
4,313
Density / Sq Mi
$99,718
Median Household Income
$56,988
Median Earnings
$2,077
Median Rent
$361,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Office Units in Middlesex County, NJ
Properties on Market for Office Units in Middlesex County
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - Office or residential use in residential area.
Where is this office unit located?
The property is located at 655 Rahway Avenue Woodbridge, NJ.
What is the asking price?
The asking price for this property is $479,500.
What are key features of this property?
This property features: Grandfathered commercial use in a residential zone allows for continued office operation.; Versatile property suitable for either office or residential use.; Four separate offices (two upstairs, two downstairs).
