Downtown Basking Ridge Office
66 S Finley Ave Basking Ridge, NJ 07920
66 S Finley Ave, Basking Ridge, NJ, 07920
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For Sale
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Three-tenant office building in downtown Basking Ridge, fully occupied.
Property Size1,953 SF
Price / SF$496.67
Days on Market614
Property Features for 66 S Finley Ave
General Information
- Standard status
- Active
- Size
- 1,953 SF
- Property subtype
- Mixed Use
Listing agency
Location Realty Advisors LLC
Listed by
Chris Castagno · License #DE RB -0020139
Source
Crexi
Added: Nov 14, 2024 Updated: Jul 6 at 8:15AM Checked: Jul 19 at 9:38AM
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 Location Realty Advisors LLC
Investment Insights
Based on property information with market context.
Available for the first time in 30 years, this three-tenant office building is located at the corner of South Finley and Henry Streets in Downtown Basking Ridge. The building is situated on the main corner downtown and has been fully occupied for 30 years. The property is well-maintained with no deferred maintenance. Current tenants include Edward Jones Investments, Wabba Travel, and Country Tailor. Two leases are gross plus taxes over base year, and the third is NN+ with taxes over base year. The building backs up to a free municipal parking lot and also offers street parking. In 2014, the building was renovated with Hardi-plank siding and a new roof. The property has a size of 1953 square feet.
Key Highlights
- Prime downtown location at the corner of South Finley and Henry Streets in Basking Ridge.
- Fully occupied with long‑term tenants (Edward Jones Investments, Wabba Travel, and Country Tailor) and zero vacancies for 30 years.
- Well‑maintained building with no deferred maintenance.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $58.6k | $30.00 |
| − Vacancy | −$18.7k | −$9.60 |
| EGI | $39.8k | $20.40 |
| − OpEx | −$10.0k | −$5.10 |
| NOI | $29.9k | $15.30 |
1,953 SF · lease $30.00/SF/yr · vacancy 32.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$426.9K
$373.5K – $498.0K
NOI $29,881 @ 7.0% cap · market cap 3.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$510.0K
$446.2K – $595.0K
NOI $35,698 @ 7.0% cap · market cap 3.68%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Wabba Travel
Travel Agency
Edward Jones - Financial ...
Financial Advisor
Edward Jones - Financial ...
Financial Advisor
FAQs
What type of property is this?
Office building - Three-tenant office building in downtown Basking Ridge, fully occupied.
Where is this office building located?
The property is located at 66 S Finley Ave Basking Ridge, NJ.
What is the asking price?
The asking price for this property is $970,000.
What are key features of this property?
This property features: Prime downtown location at the corner of South Finley and Henry Streets in Basking Ridge.; Fully occupied with long‑term tenants (Edward Jones Investments, Wabba Travel, and Country Tailor) and zero vacancies for 30 years.; Well‑maintained building with no deferred maintenance.
