Two-Level Office
For Sale
$395,000
Belvidere Ave, Washington, NJ 07882
Two-level office building with multiple suites, conference rooms, dedicated server room, and full basement with off-street parking.
Property Size2,307 SF
Price / SF$171.22
Days on Market151
Property Features for Belvidere Ave
General Information
Standard status
Active
Size
2,307 SF
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$11,903
Amenities
server room
meeting/conference rooms
paved off-street parking
basement storage
whole-house generator
security cameras
irrigation system
fire and alarm systems
Central Air
3
Carpet, Wood
Asphalt Shingle
Corner Lot.
50 X 135, 50 X 135
Corner.
Building Details
Year Built
1890
Stories
2
Listing Agency:
KELLER WILLIAMS REAL ESTATE
(908) 751-7750
Listed By:
MICHAEL DELL ELBA
Source:
Xome
Added: Mar 12
Changed: Aug 8
Last Checked: Aug 9 at 5:36AM
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 KELLER WILLIAMS REAL ESTATE
Investment Insights
Based on property information with market context.
This two-level office building offers a practical mix of closed-door offices and larger meeting and conference rooms, supported by a dedicated server room. The main floor features two separate entrances, including a side entrance serving the first-floor office, plus an open reception/office area, a half bath, and a conference room with built-in counterspace and cabinets. Access to both levels is available via an airy lobby from the front porch.
Upstairs includes three closed-door office spaces, a half bath, and a conference room/office. A full basement with a concrete floor provides additional storage.
The property includes a paved off-street parking lot and is equipped with fire and alarm systems for both floors. Additional building systems include a whole-house generator, security cameras, and an irrigation system for landscape maintenance.
Upstairs includes three closed-door office spaces, a half bath, and a conference room/office. A full basement with a concrete floor provides additional storage.
The property includes a paved off-street parking lot and is equipped with fire and alarm systems for both floors. Additional building systems include a whole-house generator, security cameras, and an irrigation system for landscape maintenance.
Key Highlights
- Two‑level office building with multiple office spaces and large meeting/conference rooms
- Dedicated server room, plus central air and flooring includes carpet and wood
- Two separate entrances, including side entrance for first‑floor office and access to both levels via lobby
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
$36,314
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
9.19%
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%
$726,280
$726.3K
Cap Rate 7%
$518,771
$518.8K
Cap Rate 9%
$403,489
$403.5K
Market Conditions
NOI Build-Up for 2,307 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
$60.9K $26.40/SF
− Vacancy
−$12.5K −$5.41/SF
EGI
$48.4K $20.99/SF
− OpEx
−$12.1K −$5.25/SF
NOI
$36.3K $15.74/SF
Area
Warren County, NJ
Vacancy
20.50%
Lease Rate
$26.40 /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%
$726,280
Cap Rate 7%
$518,771
Cap Rate 9%
$403,489
Alternative Uses
Best Use
Office B
$518.8K
$453.9K – $605.2K
NOI $36,314 @ 7.0% cap · market cap 9.19%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$870.4K
$761.6K – $1.02M
NOI $60,926 @ 7.0% cap · market cap 15.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
640
Businesses Nearby
Explore this area
Business Placement
Demographics for 07882, NJ
14,971
Population
6,290
Households
2.4
Avg Household Size
44
Median Age
38%
College-Educated
95%
High-School Grad
31.6 sq mi
ZIP Area
474
Density / Sq Mi
$100,852
Median Household Income
$55,316
Median Earnings
$1,411
Median Rent
$333,800
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-level office building with multiple suites, conference rooms, dedicated server room, and full basement with off-street parking.
Where is this office building located?
The property is located at Belvidere Ave Washington, NJ.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Two‑level office building with multiple office spaces and large meeting/conference rooms; Dedicated server room, plus central air and flooring includes carpet and wood; Two separate entrances, including side entrance for first‑floor office and access to both levels via lobby
