Medical Office
For Sale
$375,000
B4-4 Cornwall Drive, East Brunswick, NJ 08816
An open-shell layout allows the main level to be configured for medical or dental use under mutually agreed plans and approvals.
Property Size1,800 SF
Price / SF$208.33
Days on Market8
Property Features for B4-4 Cornwall Drive
General Information
Standard status
Active
Size
1,800 SF
Financials
Asking Price
$375,000
HOA Fee
$820
Additional Details
Furnished
No
Highway Access
Yes
Sprinkler System
No
Office Units
1
Taxes and HOA fees
Annual Taxes
$12,469
Building Details
Buildings
1
Stories
1
Tenancy
Single
Owner Occupied
No
Listing Agency:
RE/MAX FIRST REALTY, INC.
(732) 257-3500
Listed By:
ANDREW MARRONE · License #1328489
(908) 720-0243
Source:
Exprealty
Added: Oct 15
Changed: Oct 21
Last Checked: Oct 21 at 2:15AM
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 RE/MAX FIRST REALTY, INC.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This single-story medical office condominium offers approximately 1,800 square feet on the main level, currently presented as an open shell. A planned renovation includes new framing and sheetrock, electrical and plumbing work, HVAC, fire suppression, windows, storefront, tile flooring, lighting, two bathrooms and standard exam room sinks, based on the agreed layout. The space has a step-free front entrance and a second exterior entrance. An unfinished basement of approximately 1,800 square feet is accessible from two interior staircases; basement improvements are not included.
The property is in the Brier Hill professional community in East Brunswick, near Cranbury Road and Route 18, with access to the New Jersey Turnpike and Route 1. A shared parking lot serves the condominium. Renovation completion is estimated at approximately six months after permit approval, and the final build-out is subject to the agreed scope and applicable approvals.
The property is in the Brier Hill professional community in East Brunswick, near Cranbury Road and Route 18, with access to the New Jersey Turnpike and Route 1. A shared parking lot serves the condominium. Renovation completion is estimated at approximately six months after permit approval, and the final build-out is subject to the agreed scope and applicable approvals.
Key Highlights
- Approximately 1,800 square feet on the main level, currently configured as an open shell
- Unfinished basement of approximately 1,800 square feet with access from two interior staircases
- Planned main‑level renovation includes HVAC, fire suppression, two bathrooms and standard exam room sinks
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,540
Cap Rate
7.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$550,800
$550.8K
Cap Rate 7%
$393,429
$393.4K
Cap Rate 9%
$306,000
$306.0K
Market Conditions
NOI Build-Up for 1,800 SF
Gross rent
$54.0K $30.00/SF
− Vacancy
−$17.3K −$9.60/SF
EGI
$36.7K $20.40/SF
− OpEx
−$9.2K −$5.10/SF
NOI
$27.5K $15.30/SF
Area
Middlesex 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%
$550,800
Cap Rate 7%
$393,429
Cap Rate 9%
$306,000
Alternative Uses
Best Use
Office B
$393.4K
$344.3K – $459.0K
NOI $27,540 @ 7.0% cap · market cap 7.34%
Second Best
Healthcare Medical
$382.9K
$335.0K – $446.7K
NOI $26,801 @ 7.0% cap · market cap 7.15%
Theoretical Best
Office A
$470.0K
$411.3K – $548.4K
NOI $32,901 @ 7.0% cap · market cap 8.77%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
1
Office units
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,045
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 08816, NJ
48,729
Population
17,242
Households
2.8
Avg Household Size
42
Median Age
58%
College-Educated
94%
High-School Grad
20.2 sq mi
ZIP Area
2,412
Density / Sq Mi
$141,731
Median Household Income
$71,111
Median Earnings
$2,079
Median Rent
$502,600
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Medical Office Space - An open-shell layout allows the main level to be configured for medical or dental use under mutually agreed plans and approvals.
Where is this medical office space located?
The property is located at B4-4 Cornwall Drive East Brunswick, NJ.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Approximately 1,800 square feet on the main level, currently configured as an open shell; Unfinished basement of approximately 1,800 square feet with access from two interior staircases; Planned main‑level renovation includes HVAC, fire suppression, two bathrooms and standard exam room sinks
