Current Use by Public Records
- Office Spaces
Property Details for 971 Us-202
- Year built
- 1986
- Lot size
- 0.82 lot acres
- Property type
- Office Spaces
- Property subtype
- Medical Office Space
Description
This meticulously maintained, two-story Class C medical office building, located at 971 US-202 in Branchburg, New Jersey (Somerset County, zip code 08876), presents a compelling investment opportunity. The 8,900 square foot building, constructed in 1986 and renovated in 2019, sits on a 0.824-acre lot and features six tenants across seven units, boasting 100% occupancy. The property offers a strong net operating income (NOI) of $85,775, with a pro-forma NOI of $94,038, resulting in a current cap rate of 7.46% and a pro-forma cap rate of 8.18%. The asking price is $1,150,000, translating to a price per square foot of $129.21. The net rentable area is 8,320 square feet. The property is zoned RS2 and offers ample parking, making it highly attractive to both tenants and clients. This net lease investment opportunity provides a stable cash flow and potential for future appreciation. The building's prime location on US Highway 202 ensures excellent visibility and accessibility. Approximately 2,000 square feet could potentially be available for an owner-user. The property's Asset Property Number (APN) is 05-00053-0000-00002. Ownership is held by a corporation.
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Location Insight
- Map
- Local Demand
- City
- Branchburg
- County
- Somerset
- State
- New Jersey
- Longitude
- -74.6869
- Latitude
- 40.5664
