Downtown Office Building with Multiple
For Sale
$499,000
Center St, Clinton, NJ 08809
Office building with three separate entrances, previously used as an accounting firm, and a July 2025 roof replacement.
Property Size2,960 SF
Price / SF$168.58
Days on Market145
Property Features for Center St
General Information
Standard status
Active
Size
2,960 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$8,130
Amenities
Central Air, A/C - Zone
3
Tile, Vinyl, Carpet, Wood
Asphalt Shingle
.042 AC, .042 AC
Central Business District.
Building Details
Year Built
1900
Year Renovated
2025
Listing Agency:
RED BARN REALTY
(908) 334-1475
Listed By:
CARL ANTHONY PORAMBO · License #238079
(908) 334-1475
Source:
Xome
Added: Mar 29
Changed: Aug 12
Last Checked: Aug 20 at 5:16AM
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 RED BARN REALTY
Investment Insights
Based on property information with market context.
This downtown office building is configured with three separate entrances for each floor. The prior use was an accounting firm. A new roof was installed in July 2025. Public remarks also indicate that, with town approval and installation of a fire system, the second floor could be converted to residential, with an estimate available.
The property is located at 29 Center St, Unit 29 in Clinton, NJ 08809. The existing layout supports independent floor access through the multiple entrances.
For tenants or buyers seeking a multi-floor office setting, the building’s separate entrances and recent roof update provide a clear starting point for continued office operations or an approved conversion path for the second floor.
The property is located at 29 Center St, Unit 29 in Clinton, NJ 08809. The existing layout supports independent floor access through the multiple entrances.
For tenants or buyers seeking a multi-floor office setting, the building’s separate entrances and recent roof update provide a clear starting point for continued office operations or an approved conversion path for the second floor.
Key Highlights
- 3, separate entrances for the office building, with each floor having its own entry
- Previously used as an accounting firm
- Roof replaced July 2025 (asphalt shingle)
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
$45,288
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
9.08%
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%
$905,760
$905.8K
Cap Rate 7%
$646,971
$647.0K
Cap Rate 9%
$503,200
$503.2K
Market Conditions
NOI Build-Up for 2,960 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
$88.8K $30.00/SF
− Vacancy
−$28.4K −$9.60/SF
EGI
$60.4K $20.40/SF
− OpEx
−$15.1K −$5.10/SF
NOI
$45.3K $15.30/SF
Area
Hunterdon 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%
$905,760
Cap Rate 7%
$646,971
Cap Rate 9%
$503,200
Alternative Uses
Best Use
Office B
$647.0K
$566.1K – $754.8K
NOI $45,288 @ 7.0% cap · market cap 9.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$772.9K
$676.3K – $901.7K
NOI $54,104 @ 7.0% cap · market cap 10.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
162
Businesses Nearby
Explore this area
Business Placement
Demographics for 08809, NJ
7,255
Population
2,353
Households
3.1
Avg Household Size
44
Median Age
52%
College-Educated
92%
High-School Grad
6.9 sq mi
ZIP Area
1,051
Density / Sq Mi
$127,169
Median Household Income
$68,209
Median Earnings
$1,721
Median Rent
$413,400
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 units - Office building with three separate entrances, previously used as an accounting firm, and a July 2025 roof replacement.
Where is this office units located?
The property is located at Center St Clinton, NJ.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 3, separate entrances for the office building, with each floor having its own entry; Previously used as an accounting firm; Roof replaced July 2025 (asphalt shingle)
