Corner Freestanding Two-Story Office
For Sale
Under Contract
$580,000
702 N State Route 18 Highway, East Brunswick, NJ 08816
Commercial Sale, East Brunswick, NJ
Property Size1,201 SF
Lot Size0.19 Acres
Price / SF$482.93
Days on Market679
Property Features for 702 N State Route 18 Highway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
HC2
Parking
12
Interior features
Carpeting, Lighting Fixtures, Paneling, Wall Covering
Lot features
Corner Lot, Highway Commercial, Highway Location
Directions
Route 18 North or Old Bridge Turnpike to Kendal Rd.
Standard status
Active Under Contract
APN
04000900300010
Size
1,201 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
9017
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1952
Floors in Building
2
Flooring type
Tile, Lighting fixtures, Paneling, Carpet, Wall covering
Building materials
Vinyl Siding
Roof type
Asphalt
Listing Agency:
EXP REALTY, LLC
(866) 201-6210
Listed By:
Stacy Stoupas
(866) 201-6210
Added: Oct 12, 2024
Changed: Aug 19
Last Checked: Aug 21 at 8:06PM
MLS# 2504750R
Copyright © 2026 All Jersey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Corner freestanding, two-story office building set up for professional use, with a first-floor reception area plus three offices, a storage room, and a private bath. A full basement provides both inside and outside access. The second-floor offices are upstairs with a separate entrance, including two offices and a private bath.
The building is located for easy access from Rt 18 N or Kendal Rd and sits directly on heavily traveled Route 18, offering highly visible street presence. Soundproofing is included with blowing cellulose insulation into the walls. Construction includes vinyl siding and an asphalt roof.
Additional property details include forced air heating and central air conditioning, public water service, and public sewer. Roof and siding are about 10 years old, and the heating and hot water are about 5 years old. The property sits on 0.186 acres (1,201 SF) and includes 12 parking spaces, with potential for additional spaces.
The building is located for easy access from Rt 18 N or Kendal Rd and sits directly on heavily traveled Route 18, offering highly visible street presence. Soundproofing is included with blowing cellulose insulation into the walls. Construction includes vinyl siding and an asphalt roof.
Additional property details include forced air heating and central air conditioning, public water service, and public sewer. Roof and siding are about 10 years old, and the heating and hot water are about 5 years old. The property sits on 0.186 acres (1,201 SF) and includes 12 parking spaces, with potential for additional spaces.
Key Highlights
- HC2 zoned corner freestanding two‑story office building on Route 18
- Easy access from Rt 18 N or Kendal Rd; highly visible street frontage on Route 18
- First floor includes reception, three offices, storage, and private bath
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
$18,375
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
3.17%
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%
$367,500
$367.5K
Cap Rate 7%
$262,500
$262.5K
Cap Rate 9%
$204,167
$204.2K
Market Conditions
NOI Build-Up for 1,201 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
$36.0K $30.00/SF
− Vacancy
−$11.5K −$9.60/SF
EGI
$24.5K $20.40/SF
− OpEx
−$6.1K −$5.10/SF
NOI
$18.4K $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%
$367,500
Cap Rate 7%
$262,500
Cap Rate 9%
$204,167
Alternative Uses
Best Use
Office B
$262.5K
$229.7K – $306.3K
NOI $18,375 @ 7.0% cap · market cap 3.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$313.6K
$274.4K – $365.9K
NOI $21,952 @ 7.0% cap · market cap 3.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,109
Businesses Nearby
Explore this area
Business Placement
Demographics for 08816, NJ
48,729
Population
17,242
Households
2.8
Avg Household Size
42
Median Age
58%
College-Educated
94%
High-School Grad
20.2 sq mi
ZIP Area
2,412
Density / Sq Mi
$141,731
Median Household Income
$71,111
Median Earnings
$2,079
Median Rent
$502,600
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 - HC2 zoned two-story office building with central air, soundproofed walls, and public utilities.
Where is this office building located?
The property is located at 702 N State Route 18 Highway East Brunswick, NJ.
What is the asking price?
The asking price for this property is $580,000.
What are key features of this property?
This property features: HC2 zoned corner freestanding two‑story office building on Route 18; Easy access from Rt 18 N or Kendal Rd; highly visible street frontage on Route 18; First floor includes reception, three offices, storage, and private bath
