Renovated Office Building with Conference
82 FLORAL AVE Unit 1 New Providence, NJ 07974
For Sale
$1,500,000
Renovated former bank office building with a dedicated conference room and 17 on-site parking spaces.
Property Size4,216 SF
Price / SF$355.79
Days on Market127
Property Features for 82 FLORAL AVE Unit 1
General Information
- Standard status
- Active
- Size
- 4,216 SF
- Property subtype
- General Commercial
Building Details
- Year Built
- 1977
Listing Agency:
COLDWELL BANKER REALTY
(908) 757-1723
Listed By:
COLLEEN BERG
(908) 757-1723
Source:
Xome
Added: Mar 20
Changed: Jul 22
Last Checked: Jul 24 at 4:53AM
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 office building was comprehensively reimagined in 2019, including an expansion of the existing footprint, modernization of building systems, and high-end interior finishes. The main level features a prominent entry with a spacious reception area anchored by a large reception desk, flanked by four private offices, plus a state-of-the-art conference room for client-facing use.
An upper level provides four additional private offices and a flexible administrative or bullpen-style workspace. The fully finished lower level offers versatile, customizable space along with a designed kitchen suitable for staff use or client hospitality.
Zoned mixed-use, the property at 82 Floral Ave Unit 1 in New Providence is positioned adjacent to the NP train station in a transit-oriented setting. The asset includes 17 dedicated on-site parking spaces.
An upper level provides four additional private offices and a flexible administrative or bullpen-style workspace. The fully finished lower level offers versatile, customizable space along with a designed kitchen suitable for staff use or client hospitality.
Zoned mixed-use, the property at 82 Floral Ave Unit 1 in New Providence is positioned adjacent to the NP train station in a transit-oriented setting. The asset includes 17 dedicated on-site parking spaces.
Key Highlights
- 3,800 SF renovated former bank mixed‑use office building with central business district zoning
- Completed full‑scale renovation in 2019, expanding the existing footprint and modernizing building systems
- Main level includes a spacious reception area, 4 private offices, and a state‑of‑the‑art conference room
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
Healthcare Medical
$896.8K
$784.7K – $1.05M
NOI $62,775 @ 7.0% cap · market cap 4.19%
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
Location Intelligence
Current Use by Public Records
Office buildings
FAQs
What type of property is this?
Office building - Renovated former bank office building with a dedicated conference room and 17 on-site parking spaces.
Where is this office building located?
The property is located at 82 FLORAL AVE Unit 1 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: 3,800 SF renovated former bank mixed‑use office building with central business district zoning; Completed full‑scale renovation in 2019, expanding the existing footprint and modernizing building systems; Main level includes a spacious reception area, 4 private offices, and a state‑of‑the‑art conference room
