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    Property profile & analytics

    123 Grn St Woodbridge Township, NJ 07095

    • Medical offices
    • 2,888 SF
    For Lease
    View listing
    $19 SF/Yr
    Last Sale
    Mar 04, 2022
    $950,000
    Value Estimations
    $915,000
    Cap Rate Potential
    4.3%
    Medical offices
    Location Intelligence
    Property ID
    US59-3204920
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Premier Mortgage Services / Mortgage Lender
    • Pediatric Dentistry / Pediatric Dentist

    Property Details for 123 Grn St

    Year built
    1877
    Construction
    METAL FRAME
    Property size
    2,888 SF
    Zone code
    R-6
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    25 00548-0000-00005
    APU
    2500548000000005

    Description

    This exceptional two-story, 5,500 square foot Class B office building at 123 Green Street in Woodbridge Township, NJ 07095, offers a unique blend of medical, traditional, and coworking spaces. Currently, 4,000 square feet are available for lease, with six individual suites ranging from 400 to 800 square feet. The building underwent complete renovations in 2022, showcasing a modern aesthetic ideal for a variety of businesses. The property features ample parking with 20+ spaces available for tenants and clients. Its prime location in Woodbridge, New Jersey provides easy access to major transportation routes and a thriving local community. The building's exterior has recently been renovated, and included in the lease is prominent placement on a newly installed illuminated sign, enhancing visibility and brand recognition. This is an excellent opportunity for businesses seeking a well-maintained, versatile space in a desirable location. The multiple tenancy structure allows for flexibility and scalability, making it suitable for both established companies and startups. Don't miss this chance to secure your business's future in this vibrant New Jersey community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,005,000
      ML approach
      $1,030,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $715,000
      6.5%
      $660,000
      7%
      $615,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Woodbridge
    County
    Middlesex
    State
    New Jersey
    Longitude
    -74.2826
    Latitude
    40.5572
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $19,958
    $42,600
    $118,400
    $161,000
    -
    $42,600
    $118,400
    $161,000

    Comparable in this City

    • Value Estimation
      $330,000
      1,047 SF

      423 Amboy Ave

      MEDICAL BUILDING • 1,047 SF
      423 Amboy Ave, Woodbridge, NJ 07095-2909
      View Details
    • Value Estimation
      $350,000
      0.15 Acres

      168 Main St

      DENTAL BUILDING • 0.15 Acres
      168 Main St, Woodbridge, NJ 07095-2109
      View Details
    • Value Estimation by Request
      7,200 SF

      670 Rte

      Medical offices • 7,200 SF
      670 Rte, Woodbridge Township, NJ 07095
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    • Value Estimation by Request
      17,340 SF

      301 Prt Reading Ave

      Neighborhood centers • 17,340 SF
      301 Prt Reading Ave, Woodbridge Township, NJ 07095
      View Details
    • Value Estimation
      $590,000
      8.64 Acres

      10 Woodbridge Ctr Dr

      OFFICE BUILDING • 8.64 Acres
      10 Woodbridge Ctr Dr, Woodbridge, NJ 07095-1152
      View Details
    • Value Estimation
      $465,000
      5,244 SF

      321 Main St

      OFFICE BUILDING • 5,244 SF
      321 Main St, Woodbridge, NJ 07095-1225
      View Details

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      612 SF

      Office Units For Sale

      Office units available for sale, various sizes, utilities included.
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    • Contact for pricing
      1,949 SF

      Main Street Office Space

      First-floor office with separate entrance, 775 sq. ft.
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      500 SF

      Woodbridge Proper Office Space

      Second-floor office space in Woodbridge Proper, NJ.
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    Similar Nearby for Lease

    • $19 SF/Yr
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      Green Street Office Space

      Woodbridge, NJ: Versatile Office Suites
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    • $91 SF/Yr
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      Woodbridge Office Space Available

      Office space for rent in Woodbridge, New Jersey.
      68-72 Main St, Woodbridge, NJ 07095
      View Details
    • $15 SF/Yr
      2,094 SF

      Prime Commercial Land, Main St.

      2,094 sq ft lot, 4 parking spaces.
      227 Main St St, Woodbridge Township, NJ 07095
      View Details
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    Woodbridge Township, NJ 07095
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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