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    378 Co Rd 518 Montgomery, NJ 08558

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    For Lease
    Contact for pricing

    Prime Somerset County Office Space Available

    Lot size:
    1 SF

    Property Features for 378 Co Rd 518

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    1 SF
    Total Rate
    1.58

    Building Details

    Year Built/Renovated
    2005/2020

    Spaces For Lease

    at 378 Co Rd 518, Montgomery, NJ 08558 Contact us
    Unit

    $19 /Mo

    Size
    1,211 SF
    Contact us

    We can help!

    Listing Contact
    Kenneth Worden
    Kenneth Worden

    Listing Agency: Coldwell Banker Realty Listing Agent: Kenneth Worden

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This 1,400 square foot traditional office space is immediately available in the Blawenburg Village Square, a thriving mixed-use shopping center in Montgomery Township, Somerset County. Located on a high-traffic corner lot, this single-tenant space benefits from excellent visibility and accessibility. The building, constructed in 2005 and renovated in 2020, offers a modern and functional layout. The property boasts a strong tenant mix, including Contemplate Kitchen, Peaceful Pilates, Ledd Interiors, Progressive Veterinary Care, Mountain View Orthodontics, and an Asian Grocery Store, creating a vibrant and attractive environment. Ample parking is available with 85 spaces for customers and employees. The zoning is mixed-use, offering flexibility for a variety of businesses. A 3-5 year lease is preferred, and a credit check is required. This exceptional location provides easy access to major roadways and a diverse customer base. The space is ideal for a business seeking a high-visibility location within an established and successful shopping center. No elevators are present in the building. The total building square footage is 1,211 square feet, with the available space being 1,400 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Montgomery
    County
    Somerset
    State
    New Jersey
    Longitude
    -74.703679549597
    Latitude
    40.407717860465

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    FAQs

    What type of property is this?
    Office Property / Space - Prime Somerset County Office Space Available
    Where is this office property / space located?
    The property is located at 378 Co Rd 518 Montgomery, NJ.
    What is the lease rate?
    The lease rate is $19 SF/Yr.
    What are key features of this property?
    This property features: 1,400 SF of retail/office space immediately available in Blawenburg Village Square.; High-traffic corner lot shopping center with established tenants.; Tenants include Contemplate Kitchen, Peaceful Pilates, Ledd Interiors, Progressive Veterinary Care, Mountain View Orthodontics, and an Asian grocery store.
    (908) 874-8421 Call to check price and availability
    Request Owner's contact information
    378 Co Rd 518 Montgomery, NJ 08558
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    Montgomery, NJ 08558
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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.

    More about this property
    378 Co Rd 518 Montgomery, NJ 08558
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Kenneth Worden
    Kenneth Worden
    (908) 874-8421 (908) 431-6136
    Learn more
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