Building Details

Year Built 1984

Tenancy Multi

Listing Agency: COLDWELL BANKER REALTY

Listed By: DAVID L. WYLDE · License #264532 Show Phone

Source: Thebansalteam

Added: Jul 29 Changed: Oct 14 Last Checked: Oct 7 at 5:02PM

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Investment Insights

Based on property information with market context.

This 18,000-square-foot office property offers professional suites ranging from 200 to 2,200 square feet. Available configurations include a flexible first-level workspace with a shared kitchenette and reception area, a 400-square-foot suite, and a 2,200-square-foot suite with a kitchen. The building was constructed in 1984 and includes basement storage.

Front and rear entrances, an elevator, and ample parking support day-to-day accessibility. Site improvements include newer asphalt, Belgium block, lighting, and landscaping. The property is located in the Warren/Watchung Business District, with access to I-78, Route 22, and I-287 within minutes. The landlord pays all utilities, and there is no CAM charge.

Key Highlights

• Office suites from 200sf to 2,200sf
• 18,000‑square‑foot office property built in 1984
• First‑level flexible workspace with shared kitchenette and reception area

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$202,036

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,040,720 $4.0M

Cap Rate 7%

$2,886,229 $2.9M

Cap Rate 9%

$2,244,844 $2.2M

What to ask about pricing

Market Conditions

NOI Build-Up for 18,000 SF

Gross rent

$306.7K $17.04/SF

− Vacancy

−$18.1K −$1.01/SF

EGI

$288.6K $16.03/SF

− OpEx

−$86.6K −$4.81/SF

NOI

$202.0K $11.22/SF

Area

Somerset County, NJ

Vacancy

5.90%

Lease Rate

$17.04 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,040,720

Cap Rate 7%

$2,886,229

Cap Rate 9%

$2,244,844

Alternative Uses

Best Use

Office B

$3.93M

$3.44M – $4.59M (±1% cap)

NOI $275,400 @ 7.0% cap · market cap 7,344.00%

Second Best

Flex RnD

$3.86M

$3.38M – $4.50M (±1% cap)

NOI $270,073 @ 7.0% cap · market cap 7,201.95%

Theoretical Best

Office A

$4.70M

$4.11M – $5.48M (±1% cap)

NOI $329,011 @ 7.0% cap · market cap 8,773.63%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Office Units

Suggested Use

Top Pick Auto Repair Shop Big Box & Wholesale Store Building Supply Furniture & Home Goods Hair Salon Plumbing Service

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

Lease Details

Multi-tenant

Tenancy

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

642

Businesses Nearby

Explore this area Business Placement

Demographics for 07069, NJ

6,696

Population

2,471

Households

2.7

Avg Household Size

47

Median Age

63%

College-Educated

95%

High-School Grad

6.3 sq mi

ZIP Area

1,063

Density / Sq Mi

$166,693

Median Household Income

$90,709

Median Earnings

$2,571

Median Rent

$838,000

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

Frequently Asked Questions

What type of property is this?

Office units - Professional workspace options include shared reception, a kitchenette, elevator access, parking, and basement storage.

Where is this office units located?

The property is located at 776 Mountain Blvd Watchung, NJ.

What are key features of this property?

This property features: Office suites from 200sf to 2,200sf; 18,000‑square‑foot office property built in 1984; First‑level flexible workspace with shared kitchenette and reception area