Renovated Mixed-Use Trophy
82 Floral Ave New Providence, NJ 07974
82 Floral Ave, New Providence, NJ, 07974
$1,500,000
For Sale
$1,500,000
Renovated 3,800 SF mixed-use property near NP train station.
Property Size4,216 SF
Price / SF$355.79
Days on Market102
Property Features for 82 Floral Ave
General Information
- Standard status
- Active
- Size
- 4,216 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1977
Listing Agency
COLDWELL BANKER REALTY
(908) 233-5555
Listed by
COLLEEN BERG
Source
Corcoran
Added: Apr 7 Checked: Jul 17 at 3:14 am
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 COLDWELL BANKER REALTY
Investment Insights
Based on property information with market context.
This renovated 3,800 SF mixed-use property is located adjacent to the NP train station. Formerly a bank building, the asset underwent a full-scale renovation in 2019, including an expansion of the existing footprint, modernized systems, and high-end finishes. The property features a high-end entryway with a spacious reception area, anchored by a large reception desk flanked by 4 private offices. A conference room enhances functionality, making the space suitable for client-facing businesses. The upper level offers 4 additional private offices along with a flexible administrative or bullpen-style workspace. The fully finished lower level provides customizable space and includes a kitchen. Zoned mixed-use, the property is suited for professional, medical, retail, or service-oriented users, as well as investors. The property benefits from consistent foot traffic, strong visibility, and accessibility. It also includes 17 dedicated on-site parking spaces.
Key Highlights
- Renovated 3,800 SF mixed‑use property adjacent to NP train station.
- Full‑scale renovation in 2019 with expansion, modernized systems, and high‑end finishes.
- Features a high‑end entryway with reception area, 4 private offices, and a state‑of‑the‑art conference room.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $126.5k | $30.00 |
| − Vacancy | −$40.5k | −$9.60 |
| EGI | $86.0k | $20.40 |
| − OpEx | −$21.5k | −$5.10 |
| NOI | $64.5k | $15.30 |
4,216 SF · lease $30.00/SF/yr · vacancy 32.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$921.5K
$806.3K – $1.08M
NOI $64,505 @ 7.0% cap · market cap 4.30%
Second Best
Mixed Use
$795.0K
$695.6K – $927.5K
NOI $55,651 @ 7.0% cap · market cap 3.71%
Theoretical Best
Office A
$1.10M
$963.3K – $1.28M
NOI $77,062 @ 7.0% cap · market cap 5.14%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Office buildings
FAQs
What type of property is this?
Mixed-use property - Renovated 3,800 SF mixed-use property near NP train station.
Where is this mixed-use property located?
The property is located at 82 Floral Ave New Providence, NJ.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Renovated 3,800 SF mixed‑use property adjacent to NP train station.; Full‑scale renovation in 2019 with expansion, modernized systems, and high‑end finishes.; Features a high‑end entryway with reception area, 4 private offices, and a state‑of‑the‑art conference room.
