Bridgewater Office Condo For
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672 US HWY 202/206, Bridgewater, NJ 08807
1,350 sq ft office condo in Bridgewater, NJ.
Property Size1,350 SF
Price / SF$214.07
Days on Market102
Property Features for 672 US HWY 202/206
General Information
Standard status
Active
Size
1,350 SF
Property subtype
Office
Building Details
Units
12
Listing Agency:
Deluccia Commercial Group/Berkshire Hathway Fox & Roach Realtors.
(732) 469-1515
Listed By:
Tim Deluccia · License #8243435
Source:
Crexi
Added: May 22
Changed: Aug 26
Last Checked: Aug 29 at 11:42PM
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 Deluccia Commercial Group/Berkshire Hathway Fox & Roach Realtors.
Investment Insights
Based on property information with market context.
This is a 1,350 sq. ft. office condo featuring three private offices, a conference room, reception area, and bullpen. It is located in an elevator building and includes on-site parking. The property is suitable for office professionals, attorneys, accountants, or medical practitioners.
Key Highlights
- Spacious 1,350 sq. ft. office condo.
- Features three private offices, a conference room, reception area, and bullpen.
- Located in a convenient elevator building.
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
$20,655
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
7.15%
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%
$413,100
$413.1K
Cap Rate 7%
$295,071
$295.1K
Cap Rate 9%
$229,500
$229.5K
Market Conditions
NOI Build-Up for 1,350 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
$40.5K $30.00/SF
− Vacancy
−$13.0K −$9.60/SF
EGI
$27.5K $20.40/SF
− OpEx
−$6.9K −$5.10/SF
NOI
$20.7K $15.30/SF
Area
Somerset 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%
$413,100
Cap Rate 7%
$295,071
Cap Rate 9%
$229,500
Alternative Uses
Best Use
Office B
$295.1K
$258.2K – $344.3K
NOI $20,655 @ 7.0% cap · market cap 7.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$352.5K
$308.5K – $411.3K
NOI $24,676 @ 7.0% cap · market cap 8.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
236
Businesses Nearby
Explore this area
Business Placement
Demographics for 08807, NJ
39,299
Population
14,302
Households
2.7
Avg Household Size
43
Median Age
61%
College-Educated
95%
High-School Grad
25.5 sq mi
ZIP Area
1,541
Density / Sq Mi
$165,983
Median Household Income
$79,480
Median Earnings
$2,092
Median Rent
$562,400
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 units - 1,350 sq ft office condo in Bridgewater, NJ.
Where is this office units located?
The property is located at 672 US HWY 202/206 Bridgewater, NJ.
What is the asking price?
The asking price for this property is $289,000.
What are key features of this property?
This property features: Spacious 1,350 sq. ft. office condo.; Features three private offices, a conference room, reception area, and bullpen.; Located in a convenient elevator building.
