Building Details

Year Built 1880

Listing Agency: PREMIER PROPERTIES DAMIANO GROUP R***@aol.com Show Phone

Listed By: RAYMOND DAMIANO · License #236475

Source: Corcoran

Added: May 19 Changed: Aug 25 Last Checked: Aug 28 at 10:56AM

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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 PREMIER PROPERTIES DAMIANO GROUP

Investment Insights

Based on property information with market context.

This stand-alone office building offers an opportunity for professionals to own their workspace. The property is in good condition and includes a lift providing handicap access to the first floor. The layout features offices on the main two floors, along with a finished, walk-up attic suitable for storage. A full, mostly finished basement is also included. The property has a size of 2500 square feet.

Key Highlights

• Stand‑alone office building: Offers independence and branding opportunities
• Handicap access to the first floor: Ensures accessibility for all
• Finished attic with walk‑up access: Provides ample storage space

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

$38,250

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

3.65%

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%

$765,000 $765.0K

Cap Rate 7%

$546,429 $546.4K

Cap Rate 9%

$425,000 $425.0K

Market Conditions

NOI Build-Up for 2,500 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

$75.0K $30.00/SF

− Vacancy

−$24.0K −$9.60/SF

EGI

$51.0K $20.40/SF

− OpEx

−$12.8K −$5.10/SF

NOI

$38.3K $15.30/SF

Area

Paterson, 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%

$765,000

Cap Rate 7%

$546,429

Cap Rate 9%

$425,000

Alternative Uses

Best Use

Office B

$546.4K

$478.1K – $637.5K (±1% cap)

NOI $38,250 @ 7.0% cap · market cap 3.65%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$652.8K

$571.2K – $761.6K (±1% cap)

NOI $45,696 @ 7.0% cap · market cap 4.36%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Main Events Event Planning 581 Solutions Tech Support Center

Suggested Use

Top Pick Storage Facility Parking Lot & Garage Real Estate Agency Pharmacy (Bike/Boat/Book/etc) Store Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

836

Businesses Nearby

Explore this area Business Placement

Demographics for 07512, NJ

11,042

Population

4,002

Households

2.8

Avg Household Size

44

Median Age

38%

College-Educated

93%

High-School Grad

4.0 sq mi

ZIP Area

2,761

Density / Sq Mi

$114,177

Median Household Income

$56,348

Median Earnings

$1,703

Median Rent

$507,700

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Office building - Stand alone office building for sale, suitable for professionals.

Where is this office building located?

The property is located at 772 Union Blvd Totowa Boro, NJ.

What is the asking price?

The asking price for this property is $1,049,000.

What are key features of this property?

This property features: Stand‑alone office building: Offers independence and branding opportunities; Handicap access to the first floor: Ensures accessibility for all; Finished attic with walk‑up access: Provides ample storage space