Renovated Medical Office
For Sale
$459,900
860 ROUTE 168, Turnersville, NJ 08012
Commercial Sale - TURNERSVILLE, NJ
Property Size2,300 SF
Price / SF$199.96
Days on Market101
Property Features for 860 ROUTE 168
General Information
Property type
Other
Property subtype
Office
Subdivision
NONE AVAILABLE
Elementary school district
WASHINGTON TOWNSHIP PUBLIC SCHOOLS
Middle school district
WASHINGTON TOWNSHIP PUBLIC SCHOOLS
High school district
WASHINGTON TOWNSHIP PUBLIC SCHOOLS
Standard status
Active
Taxes and HOA fees
Tax Annual Amount
0
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
2008
Building materials
Mixed
Listing Agency:
Weichert Realtors-Turnersville
(856) 227-1950
Listed By:
Kathleen B Hansbury · License #9913217
(856) 885-1106
Added: May 20
Changed: Aug 17
Last Checked: Aug 27 at 11:06PM
MLS# NJGL2073308
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Suites 206 and 207 comprise two separately deeded medical office condominium units totaling approximately +/-2,300 SF. The space was renovated in 2013 and includes six private offices or exam rooms, two reception and waiting areas, multiple private restrooms, administrative work areas, and storage. The units can function as a combined practice or as separate suites.
The property is located at 860 Route 168 within Washington Professional Campus, a mixed-use professional complex in Turnersville, New Jersey. The site offers direct access to NJ Route 168, on-site parking for staff and clients, central air, and forced-air heating. The layout supports medical, professional, wellness, counseling, and administrative office uses identified for the property.
The property is located at 860 Route 168 within Washington Professional Campus, a mixed-use professional complex in Turnersville, New Jersey. The site offers direct access to NJ Route 168, on-site parking for staff and clients, central air, and forced-air heating. The layout supports medical, professional, wellness, counseling, and administrative office uses identified for the property.
Key Highlights
- Approximately +/-2,300 SF across two separately deeded condo units
- Six private offices or exam rooms
- Renovated in 2013; building constructed in 2008
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
$35,190
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
7.65%
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%
$703,800
$703.8K
Cap Rate 7%
$502,714
$502.7K
Cap Rate 9%
$391,000
$391.0K
Market Conditions
NOI Build-Up for 2,300 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
$69.0K $30.00/SF
− Vacancy
−$22.1K −$9.60/SF
EGI
$46.9K $20.40/SF
− OpEx
−$11.7K −$5.10/SF
NOI
$35.2K $15.30/SF
Area
Bergen 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%
$703,800
Cap Rate 7%
$502,714
Cap Rate 9%
$391,000
Alternative Uses
Best Use
Office B
$502.7K
$439.9K – $586.5K
NOI $35,190 @ 7.0% cap · market cap 7.65%
Second Best
Healthcare Medical
$489.2K
$428.1K – $570.8K
NOI $34,246 @ 7.0% cap · market cap 7.45%
Theoretical Best
Office A
$600.6K
$525.5K – $700.7K
NOI $42,040 @ 7.0% cap · market cap 9.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
618
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 08012, NJ
38,581
Population
16,192
Households
2.4
Avg Household Size
40
Median Age
34%
College-Educated
95%
High-School Grad
15.0 sq mi
ZIP Area
2,572
Density / Sq Mi
$93,497
Median Household Income
$52,650
Median Earnings
$1,589
Median Rent
$268,500
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - Two deeded units can operate together or separately for professional and administrative practices.
Where is this medical office space located?
The property is located at 860 ROUTE 168 Turnersville, NJ.
What is the asking price?
The asking price for this property is $459,900.
What are key features of this property?
This property features: Approximately +/-2,300 SF across two separately deeded condo units; Six private offices or exam rooms; Renovated in 2013; building constructed in 2008
