Office
For Sale
$2,000,000
78 Veronica Avenue, Somerset, NJ 08873
Commercial office property at 78 Veronica Avenue in Somerset, New Jersey.
Property Size9,206 SF
Price / SF$217.25
Days on Market105
Property Features for 78 Veronica Avenue
General Information
Standard status
Active
Size
9,206 SF
Property subtype
Office
Building Details
Building Size
9,206 SF
Listing Agency:
Lee & Associates | Whippany
Listed By:
Suzanne Kiall
(973) 886-3687
Source:
Lee-associates
Added: Jul 3
Changed: Oct 13
Last Checked: Oct 14 at 10:10PM
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 Lee & Associates | Whippany
Investment Insights
Based on property information with market context.
This office building contains 9,206 square feet of commercial space. The property is located at 78 Veronica Avenue in Somerset, New Jersey 08873.
Key Highlights
- 9,206 SF office building
- 78 Veronica Avenue, Somerset, NJ 08873
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$140,852
Cap Rate
7.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,817,040
$2.8M
Cap Rate 7%
$2,012,171
$2.0M
Cap Rate 9%
$1,565,022
$1.6M
Market Conditions
NOI Build-Up for 9,206 SF
Gross rent
$276.2K $30.00/SF
− Vacancy
−$88.4K −$9.60/SF
EGI
$187.8K $20.40/SF
− OpEx
−$47.0K −$5.10/SF
NOI
$140.9K $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 Rate 5%
$2,817,040
Cap Rate 7%
$2,012,171
Cap Rate 9%
$1,565,022
Alternative Uses
Best Use
Office B
$2.01M
$1.76M – $2.35M
NOI $140,852 @ 7.0% cap · market cap 7.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.40M
$2.10M – $2.80M
NOI $168,271 @ 7.0% cap · market cap 8.41%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
146
Businesses Nearby
Explore this area
Business Placement
Demographics for 08873, NJ
55,500
Population
22,142
Households
2.5
Avg Household Size
42
Median Age
54%
College-Educated
93%
High-School Grad
32.1 sq mi
ZIP Area
1,729
Density / Sq Mi
$117,866
Median Household Income
$61,727
Median Earnings
$1,942
Median Rent
$438,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Office building - Commercial office property at 78 Veronica Avenue in Somerset, New Jersey.
Where is this office building located?
The property is located at 78 Veronica Avenue Somerset, NJ.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: 9,206 SF office building; 78 Veronica Avenue, Somerset, NJ 08873
