Office Space with Flexible
For Sale
$1,125,000
7 Wills Way, Piscataway, NJ 08854
First-floor office space offers an open layout with perimeter offices, with room to expand to 5,000 SF.
Property Size10,000 SF
Price / SF$225
Days on Market83
Property Features for 7 Wills Way
General Information
Standard status
Active
Size
10,000 SF
Total Parking Spaces
40
Zoning
Commercial
Taxes and HOA fees
Annual Taxes
$8,636
Amenities
Accessible Entrance
Central Air
Electric, Forced Air, Natural Gas
Shared Driveway, Off Street
Building Details
Building Size
10,000 SF
Year Built
2010
Listing Agency:
REALTY NETWORK
(908) 507-8911
Listed By:
ROBERT D. BERLANT
(908) 507-8911
Source:
Evrealestate
Added: Jun 3
Changed: Aug 23
Last Checked: Aug 23 at 7:34AM
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 REALTY NETWORK
Investment Insights
Based on property information with market context.
This listing presents a first-floor office configuration with an open floor plan and perimeter offices or rooms, designed to support a range of professional uses. The space is described as 2,500 SF and is also available to add, with the option to combine to make 5,000 SF on the first floor. The offering is available for sale and can also be leased, providing flexibility for buyers and tenants planning their space needs. CAM is to be provided as part of the operating cost information.
The property is located at 7 Wills Way, Piscataway, NJ, within a commercial setting identified as office units and office spaces. The specific unit noted in the remarks is #7-10, and the availability described is tied to the first-floor footprint.
For tenants, the open layout with perimeter offices can support workstations, private offices, and team-based environments while keeping the center of the space usable. For buyers, the ability to add and scale from 2,500 SF to a combined 5,000 SF first-floor plan can be useful when planning for occupancy or configuring space for future users. CAM details will be provided for planning operating expenses.
The property is located at 7 Wills Way, Piscataway, NJ, within a commercial setting identified as office units and office spaces. The specific unit noted in the remarks is #7-10, and the availability described is tied to the first-floor footprint.
For tenants, the open layout with perimeter offices can support workstations, private offices, and team-based environments while keeping the center of the space usable. For buyers, the ability to add and scale from 2,500 SF to a combined 5,000 SF first-floor plan can be useful when planning for occupancy or configuring space for future users. CAM details will be provided for planning operating expenses.
Key Highlights
- First‑floor office space with open floor plan and perimeter offices/rooms
- Total 2,500 SF available on the 1st floor
- Room to expand to 5,000 SF on the 1st floor
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
$76,500
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
6.80%
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%
$1,530,000
$1.5M
Cap Rate 7%
$1,092,857
$1.1M
Cap Rate 9%
$850,000
$850.0K
Market Conditions
NOI Build-Up for 5,000 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
$150.0K $30.00/SF
− Vacancy
−$48.0K −$9.60/SF
EGI
$102.0K $20.40/SF
− OpEx
−$25.5K −$5.10/SF
NOI
$76.5K $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 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%
$1,530,000
Cap Rate 7%
$1,092,857
Cap Rate 9%
$850,000
Alternative Uses
Best Use
Office B
$1.09M
$956.3K – $1.28M
NOI $76,500 @ 7.0% cap · market cap 6.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.31M
$1.14M – $1.52M
NOI $91,392 @ 7.0% cap · market cap 8.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
677
Businesses Nearby
Explore this area
Business Placement
Demographics for 08854, NJ
60,545
Population
18,069
Households
3.4
Avg Household Size
34
Median Age
50%
College-Educated
92%
High-School Grad
18.9 sq mi
ZIP Area
3,203
Density / Sq Mi
$126,331
Median Household Income
$42,397
Median Earnings
$1,929
Median Rent
$423,900
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 - First-floor office space offers an open layout with perimeter offices, with room to expand to 5,000 SF.
Where is this office units located?
The property is located at 7 Wills Way Piscataway, NJ.
What is the asking price?
The asking price for this property is $1,125,000.
What are key features of this property?
This property features: First‑floor office space with open floor plan and perimeter offices/rooms; Total 2,500 SF available on the 1st floor; Room to expand to 5,000 SF on the 1st floor
