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    623 Georges Rd Monroe, NJ 08831
    Property profile & analytics

    623 Georges Rd, Monroe, NJ 08831

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    • Office buildings
    • 4,720 SF
    • 0.38 lot acres
    For Sale
    $820,000
    View Listing →
    Modern Office with Utilities Included For Sale
    $820,000
    360 SF

    Modern Office with Utilities Included

    Well-maintained office space with utilities included and ample parking.

    623 Georges Road #1C, North Brunswick, NJ 8902
    View Listing
    Property ID
    US59-0729350
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office buildings

    Property Details for 623 Georges Rd

    Year built
    1920
    Lot size
    0.38 lot acres
    Zone code
    C1
    Property type
    Office buildings
    APN
    14 00204-0000-00006
    APU
    1400204000000006

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Nov 18, 2010 $515,000 Tabage Properties LLC Sigmafan LLC Grant Deed $300k · Skylands Community Bank
    Dec 11, 2009 — Sigmafan LLC Gaspari,james S Grant Deed —

    Description

    This exceptional 1,000 square foot executive office space is situated in North Brunswick Township, New Jersey, at 623 Georges Rd #B4 (APN: 1400204000000006). The property is zoned C1 and features a convenient single-tenant occupancy within a three-story building. The unit itself is a clean and modern second-floor office, boasting ample natural light and a comfortable working environment. Shared restrooms are conveniently located within the building, and all utilities, including gas heat and central air conditioning, are included in the lease. The property offers significant parking convenience with 20 spaces available in an open lot. This location benefits from its position on a well-traveled street, ensuring high visibility and easy accessibility for clients and employees. The lot size is 0.382 square feet. This is an ideal opportunity for businesses seeking a functional and well-maintained office space in a desirable North Brunswick location. The property is easily accessible from major roadways, making commuting a breeze. This turnkey solution eliminates the need for extensive renovations or upgrades, allowing businesses to focus on their core operations. The building consists of a single suite.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,004,000
      Market price range: $910k - $1.58M
      AI Estimate
      $692,000
      Market price range: $671k - $1.18M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,345,000
      Current use
      COMMERCIAL (GENERAL)
      $1,125,000
      Change: -16% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    North Brunswick
    County
    Middlesex
    State
    New Jersey
    Longitude
    -74.4521
    Latitude
    40.4694
    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
    $21,035
    $199,500
    $150,500
    $350,000
    -
    $199,500
    $150,500
    $350,000

    Comparable in this City

    • Value Estimation
      $1,475,000
      7,544 SF

      656 Georges Rd

      OFFICE BUILDING
      656 Georges Rd, North Brunswick, NJ 08902-5301
      View Details
    • Value Estimation by Request
      1,223 SF

      828 Livingston Ave

      OFFICE BUILDING
      828 Livingston Ave, North Brunswick, NJ 08902-2356
      View Details
    • Value Estimation
      $615,000
      3,000 SF

      716 Livingston Ave

      OFFICE BUILDING
      716 Livingston Ave, North Brunswick, NJ 08902-2300
      View Details
    • Value Estimation
      $650,000
      3,536 SF

      669 Nassau St

      OFFICE BUILDING
      669 Nassau St, North Brunswick, NJ 08902-3082
      View Details
    • Value Estimation
      $660,000
      3,400 SF

      757 Ridgewood Ave

      OFFICE BUILDING
      757 Ridgewood Ave, North Brunswick, NJ 08902-2255
      View Details
    • Value Estimation by Request
      1,734 SF

      517 Georges Rd

      OFFICE BUILDING
      517 Georges Rd, North Brunswick, NJ 08902-2955
      View Details

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      Medical/Professional Office Space Available

      Medical/Professional office building near major routes and hospitals.
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    • Contact for pricing
      200 SF

      Modern Office with Utilities Included

      Bright office space with hardwood floors, utilities included, ample parking.
      623 Georges Rd, North Brunswick, NJ 08902
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      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

      Modern Office Space For Rent

      Open concept office with utilities included and ample parking.
      623 Georges Rd, North Brunswick, NJ 08902
      View Details
    • Contact for pricing

      Modern Office Space For Rent

      Clean, well-maintained office space with utilities included and ample parking.
      623 Georges Rd, North Brunswick, NJ 08902
      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
    • $950 /Mo
      360 SF

      Modern Office Space Available

      Open concept office with utilities included and ample parking.
      623 Georges Rd, North Brunswick, NJ 08902
      View Details
    • Contact for pricing

      Modern Office with Utilities Included

      Bright office space with hardwood floors, utilities included, ample parking.
      623 Georges Rd, North Brunswick, NJ 08902
      View Details
    View Listing
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    623 Georges Rd
    Monroe, NJ 08831
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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.

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