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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    622 Georges Rd North Brunswick Township, NJ 08902

    • Office Properties & Spaces
    • 1,461 SF
    • 6.91 lot acres
    For Sale
    View listing
    $320,000
    Last Sale
    Jan 02, 2024
    $250,000
    Value Estimations
    Cap Rate Potential
    9.5%
    Office Properties & Spaces
    Location Intelligence
    Property ID
    US59-3195597
    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

    • Office Properties & Spaces

    Property Details for 622 Georges Rd

    Year built
    1989
    Lot size
    6.91 lot acres
    Property size
    1,461 SF
    Zone code
    C1
    Property type
    Office Properties & Spaces
    APN
    14 00203-0000-00012- 101
    APU
    1400203000000012101

    Description

    This exceptional Class A office space, located at 622 Georges Road #1 in North Brunswick Township, New Jersey (08902), presents a unique investment opportunity. The property, situated on a 10.6 sq ft lot, features a two-story building with a single tenant occupancy. The 1,600 square foot building is zoned C1 and boasts ample parking with 100 spaces available. Currently configured for medical use, the space is move-in ready and adaptable to a variety of office uses. The interior includes five exam rooms, each equipped with a sink and cabinets, a private administrative office, a spacious waiting/reception area, and private restrooms. Security features include a secured front door with a combination lock. The property's convenient location within North Brunswick's business district offers excellent accessibility and visibility. This is an ideal opportunity for businesses seeking a well-maintained, functional, and conveniently located office space. The property's APN is 1400203000000012104. This turnkey solution requires minimal upfront investment, allowing for immediate occupancy and operational efficiency. Don't miss this chance to acquire a highly desirable commercial property in a thriving New Jersey market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $250,000
      ML approach
      $250,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $395,000
      6.5%
      $365,000
      7%
      $340,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $356,000
      Market price range: $208k - $366k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $415,000
      Current use
      COMMERCIAL (GENERAL)
      $350,000
      Change: -16% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    North Brunswick
    County
    Middlesex
    State
    New Jersey
    Longitude
    -74.4514
    Latitude
    40.4692
    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
    $10,824
    $28,400
    $151,700
    $180,100
    -
    $28,400
    $151,700
    $180,100

    Comparable in this City

    • Value Estimation
      $410,000
      1,665 SF

      622 Georges Rd, Unit 1-2

      CONDOMINIUM OFFICES • 1,665 SF
      622 Georges Rd, North Brunswick, NJ 08902-3377
      View Details
    • Value Estimation
      $435,000
      1,740 SF

      1553 Ruth Rd

      CONDOMINIUM OFFICES • 1,740 SF
      1553 Ruth Rd, North Brunswick, NJ 08902-4075
      View Details
    • Value Estimation
      $560,000
      3,000 SF

      622 Georges Rd, Unit 2-2

      CONDOMINIUM OFFICES • 3,000 SF
      622 Georges Rd, North Brunswick, NJ 08902-3377
      View Details
    • Value Estimation
      $270,000
      838 SF

      622 Georges Rd, Unit 2-4

      CONDOMINIUM OFFICES • 838 SF
      622 Georges Rd, North Brunswick, NJ 08902-3377
      View Details
    • Value Estimation
      $395,000
      1,485 SF

      622 Georges Rd, Unit 2-3

      CONDOMINIUM OFFICES • 1,485 SF
      622 Georges Rd, North Brunswick, NJ 08902-3377
      View Details
    • Value Estimation
      $345,000
      1,241 SF

      2090 State Rte 27th Ste, Unit 103

      CONDOMINIUM OFFICES • 1,241 SF
      2090 State Rte 27th Ste, North Brunswick, NJ 08902-1142
      View Details

    Similar Nearby for Sale

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    • $320,000

      North Brunswick Office Building

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      Prime North Brunswick Mixed-Use Building

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      North Brunswick Office Building For Sale

      5,144 SF office building, ideal for investors or owner-users.
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    • $775,000
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      Furnished Office Suite Ready

      Spacious, furnished office suite with natural light and modern amenities.
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      View Details

    Similar Nearby for Lease

    • $1.69 SF/Yr
      40,560 SF

      State Route 27 Office Condo

      Modern Office Condo, Ample Parking
      2050 State Rte 27 Hwy, North Brunswick Township, NJ 08902
      View Details
    • $2,500 /Mo

      Second Floor Office Suite

      1200 sq ft office suite with private entrance.
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      View Details
    • $950 /Mo
      360 SF

      Modern Office Space Available

      Modern office space with utilities included and ample parking.
      623 Georges Rd, North Brunswick, NJ 08902
      View Details
    • $18 SF/Yr
      1,772 SF

      North Brunswick Office Space Available

      Office space available for lease in North Brunswick, NJ.
      825 Georges Rd, North Brunswick, NJ 08902
      View Details
    • Contact for pricing
      2,320 SF

      North Brunswick Office Space Available

      2,320 SF office space with drive-in and dock access.
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      View Details
    • $265,000
      1,100 SF

      North Brunswick Office Condo For Rent

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      View Details
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    622 Georges Rd
    North Brunswick Township, NJ 08902
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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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