Two-Unit Office
For Sale
Contact for pricing
9 Elm St, Westfield, NJ 07090
Second-floor professional workspace offers flexible division, private offices, open areas, and shared restroom access.
Property Size1,500 SF
Price / SF$1.67
Days on Market60
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Property Features for 9 Elm St
General Information
Standard status
Active
Size
1,500 SF
Additional Details
Floor
2
Office Units
2
Listing Agency:
COLDWELL BANKER REALTY
Listed By:
JOHN CLARK WILEY
(908) 233-5555
Source:
Luminancerealty
Added: Aug 17
Changed: Oct 7
Last Checked: Oct 5 at 11:04PM
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 second-floor office property contains 1,500 square feet arranged as two separate units, with the option to divide the space further. Each unit includes two private offices and a generous open work area, creating a practical mix of enclosed and collaborative workspace. The units share a lavatory positioned between them. Hardwood flooring and oversized windows add character and bring natural light into the premises.
The property is located at 9 Elm St in downtown Westfield, providing a central setting within the Westfield building. Its existing two-unit configuration supports separate occupancy or a consolidated office layout, subject to applicable approvals and requirements.
The property is located at 9 Elm St in downtown Westfield, providing a central setting within the Westfield building. Its existing two-unit configuration supports separate occupancy or a consolidated office layout, subject to applicable approvals and requirements.
Key Highlights
- 1,500 square feet on the second floor
- Two separate units, each with two private offices and an open work area
- Space can be split in half
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,950
Suggested Prices Based on Cap Rates
Cap Rate 5%
$459,000
$459.0K
Cap Rate 7%
$327,857
$327.9K
Cap Rate 9%
$255,000
$255.0K
Market Conditions
NOI Build-Up for 1,500 SF
Gross rent
$45.0K $30.00/SF
− Vacancy
−$14.4K −$9.60/SF
EGI
$30.6K $20.40/SF
− OpEx
−$7.7K −$5.10/SF
NOI
$23.0K $15.30/SF
Area
Union 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%
$459,000
Cap Rate 7%
$327,857
Cap Rate 9%
$255,000
Alternative Uses
Best Use
Office B
$327.9K
$286.9K – $382.5K
NOI $22,950 @ 7.0% cap · market cap 918.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$391.7K
$342.7K – $457.0K
NOI $27,418 @ 7.0% cap · market cap 1,096.72%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
2,705
Businesses Nearby
Explore this area
Business Placement
Demographics for 07090, NJ
31,056
Population
11,093
Households
2.8
Avg Household Size
41
Median Age
77%
College-Educated
98%
High-School Grad
6.7 sq mi
ZIP Area
4,635
Density / Sq Mi
$212,700
Median Household Income
$106,123
Median Earnings
$2,211
Median Rent
$930,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office units - Second-floor professional workspace offers flexible division, private offices, open areas, and shared restroom access.
Where is this office units located?
The property is located at 9 Elm St Westfield, NJ.
What are key features of this property?
This property features: 1,500 square feet on the second floor; Two separate units, each with two private offices and an open work area; Space can be split in half
