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    Freestanding Office Building in Basking Ridge Title is generated by Realmo AI

    94 South Finley Avenue, Basking Ridge, NJ 07920

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    Two-story office building in downtown Basking Ridge with storage.

    Type:Office/Retail Building
    Property size:
    1,854 SF
    Added:
    Nov 21, 2025
    Days on Market:
    183
    Last Refresh:
    Apr 5 at 9:07 pm

    Property Features for 94 South Finley Avenue

    General Information

    Standard status
    Active
    Size
    1,854 SF
    Property subtype
    Office/Retail Building

    We can help!

    Listing Contact
    Peter Wisniewski
    Peter Wisniewski

    Listing agent Peter Wisniewski License #8542500

    Listing office The Kislak Company

    Listing date Nov 21, 2025

    Source Kislakrealty

    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 The Kislak Company

    HighLights

    • Prime downtown Basking Ridge location with high visibility on South Finley Avenue.
    • Freestanding 1,854 SF two‑story building suitable for retail or professional offices.
    • Convenient access to I‑78 and I‑287, and only 1/2 hour to Newark Liberty Airport.
    • B‑1 Village Business zoning allows for retail sales/services and business/professional offices.
    • Updated features with restored wide plank wood flooring, separate office and meeting spaces, and ample storage.
    • Natural gas fired backup generator ensures uninterrupted power supply.

    Overview

    This 1,854 square foot freestanding two-story office building is situated on 0.10 acres fronting South Finley Avenue in downtown Basking Ridge, Bernards Township. The stand-alone building has two finished floors and basement storage. The first and second floors each offer 927 square feet of office space. The property is located in historic downtown Basking Ridge and has been converted to modern offices. Features include restored wide plank wood flooring, separate office and meeting spaces, and storage. The location is suitable for retail sales or professional services and is within walking distance to shops and restaurants. The property has easy access to I-78 and I-287 and is approximately half an hour from Newark Liberty. There are two on-site parking spaces, with additional parking available at an adjacent public lot and on-street. Utilities include city water and sewer, central A/C, and a natural gas-fired backup generator. The zoning is B-1 Village Business, which permits retail sales, services, businesses, and professional offices. Real estate taxes in 2019 were $12,811.09. The property is identified as Block 1603, Lot 7.
    Property Profile Location Intelligence

    Current Use by Public Records

    Engineered air solutions Hardware & Home Improvement

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Basking Ridge
    County
    Somerset
    State
    New Jersey
    Longitude
    -74.5487
    Latitude
    40.7046

    Nearby Similar for Sale

    • $1,650,000
      8,200 SF

      Two-Story Brick Building on Corner

      Retail/office building on a prominent corner lot.
      59 South Finley Avenue, Basking Ridge, NJ 07920
      View Details
    • $970,000
      1,953 SF

      Downtown Basking Ridge Office Building

      Three-tenant office building in downtown Basking Ridge, fully occupied.
      66 S Finley Ave, Bernards, NJ 07920
      View Details

    FAQs

    What type of property is this?
    Office building - Two-story office building in downtown Basking Ridge with storage.
    Where is this office building located?
    The property is located at 94 South Finley Avenue Basking Ridge, NJ.
    What are key features of this property?
    This property features: Prime downtown Basking Ridge location with high visibility on South Finley Avenue.; Freestanding 1,854 SF two‑story building suitable for retail or professional offices.; Convenient access to I‑78 and I‑287, and only 1/2 hour to Newark Liberty Airport.
    (908) 360-8052
    We can help!
    Listing Contact
    Peter Wisniewski
    Peter Wisniewski
    Real Estate License ID: 8542500
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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