Fully Renovated Office
For Sale
$1,750,000
992 CLIFTON AVE Unit 1 2, Clifton, NJ 07013
Two occupied office units include central air, fire alarm protection, and on-site parking.
Property Size5,040 SF
Price / SF$347.22
Days on Market235
Property Features for 992 CLIFTON AVE Unit 1 2
General Information
Standard status
Active
Size
5,040 SF
Property subtype
Office
Occupancy
100%
Additional Details
Road Access
Yes
Office Units
2
Taxes and HOA fees
Annual Taxes
$24,516
Amenities
Central Air
3
Vinyl
Fire Alarm
Flat
office prof
7 Parking Spaces. Driveway.
100X75, 100X75
Central Business District.
Building Details
Year Built
1970
Buildings
1
Building Size
5,040 SF
Listing Agency:
SERHANT NEW JERSEY LLC
(917) 974-1915
Listed By:
RON ISON · License #1646527
(917) 974-1915
Source:
Xome
Added: Jan 8
Changed: Aug 30
Last Checked: Aug 30 at 3:30PM
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 SERHANT NEW JERSEY LLC
Investment Insights
Based on property information with market context.
This 5,040-square-foot office building contains two professionally maintained units and has undergone a full renovation. Both units are fully occupied by established, long-term tenants, and the property includes central air, a fire alarm system, and seven parking spaces with a driveway. The building was constructed in 1970.
Positioned on Clifton Avenue in Clifton’s Central Business District, the property offers a commercial office setting along a main road. The asset is reported at a 7%+ cap rate, with the existing tenancy and office configuration already in place.
Positioned on Clifton Avenue in Clifton’s Central Business District, the property offers a commercial office setting along a main road. The asset is reported at a 7%+ cap rate, with the existing tenancy and office configuration already in place.
Key Highlights
- 5,040 SF office building with two units
- Fully renovated property built in 1970
- Fully occupied by established, long‑term tenants
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$77,112
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.41%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,542,240
$1.5M
Cap Rate 7%
$1,101,600
$1.1M
Cap Rate 9%
$856,800
$856.8K
Market Conditions
NOI Build-Up for 5,040 SF
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.
Gross rent
$151.2K $30.00/SF
− Vacancy
−$48.4K −$9.60/SF
EGI
$102.8K $20.40/SF
− OpEx
−$25.7K −$5.10/SF
NOI
$77.1K $15.30/SF
Area
Passaic 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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,542,240
Cap Rate 7%
$1,101,600
Cap Rate 9%
$856,800
Alternative Uses
Best Use
Office B
$1.10M
$963.9K – $1.29M
NOI $77,112 @ 7.0% cap · market cap 4.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.32M
$1.15M – $1.54M
NOI $92,123 @ 7.0% cap · market cap 5.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
100%
Occupancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,526
Businesses Nearby
Explore this area
Business Placement
Demographics for 07013, NJ
28,843
Population
12,005
Households
2.4
Avg Household Size
44
Median Age
41%
College-Educated
91%
High-School Grad
4.4 sq mi
ZIP Area
6,555
Density / Sq Mi
$119,291
Median Household Income
$59,413
Median Earnings
$1,696
Median Rent
$462,700
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Two occupied office units include central air, fire alarm protection, and on-site parking.
Where is this office building located?
The property is located at 992 CLIFTON AVE Unit 1 2 Clifton, NJ.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: 5,040 SF office building with two units; Fully renovated property built in 1970; Fully occupied by established, long‑term tenants
