Medical Office with Exam
New
For Sale
$315,000
10 S MAIN STREET, Allentown, NJ 08501
A two-level layout combines patient reception and exam areas with private office and staff space.
Property Size1,317 SF
Price / SF$239.18
Days on Market5
Property Features for 10 S MAIN STREET
General Information
Standard status
Active
Size
1,317 SF
Property subtype
Commercial
Amenities
reception area
waiting room
handicap-accessible bath
exam rooms
vaulted ceilings
private office space
storage
half bath
kitchen/breakroom
washer/dryer
energy-efficient lighting
private owner parking
Building Details
Year Built
1825
Buildings
1
Listing Agency:
Keller Williams Premier
(609) 459-5100
Listed By:
Jeanette M Larkin · License #0895504
(609) 731-9380
Source:
Cummingsrealtors
Added: Sep 23
Changed: Sep 26
Last Checked: Sep 26 at 2:15PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Premier
Investment Insights
Based on property information with market context.
This 1,317-square-foot medical office dates to 1825 and has been renovated with updated HVAC, roofing, flooring, and energy-efficient lighting. The main level includes reception and waiting areas, three exam rooms, and an accessible bathroom. One exam room features vaulted ceilings and natural light. Upstairs, a private office is joined by storage, a half bath, and a kitchen and breakroom with a full-size washer and dryer.
Private owner parking is located at the rear. The property's rooms and support areas provide a defined arrangement for office operations, with patient-facing space and additional work and break areas on the upper floor.
Private owner parking is located at the rear. The property's rooms and support areas provide a defined arrangement for office operations, with patient-facing space and additional work and break areas on the upper floor.
Key Highlights
- 1,317‑square‑foot medical office built in 1825
- Three exam rooms, including one with vaulted ceilings and natural light
- Reception and waiting areas with an accessible bathroom
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
$20,150
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
6.40%
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%
$403,000
$403.0K
Cap Rate 7%
$287,857
$287.9K
Cap Rate 9%
$223,889
$223.9K
Market Conditions
NOI Build-Up for 1,317 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
$39.5K $30.00/SF
− Vacancy
−$12.6K −$9.60/SF
EGI
$26.9K $20.40/SF
− OpEx
−$6.7K −$5.10/SF
NOI
$20.2K $15.30/SF
Area
Monmouth 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%
$403,000
Cap Rate 7%
$287,857
Cap Rate 9%
$223,889
Alternative Uses
Best Use
Office B
$287.9K
$251.9K – $335.8K
NOI $20,150 @ 7.0% cap · market cap 6.40%
Second Best
Healthcare Medical
$280.1K
$245.1K – $326.8K
NOI $19,610 @ 7.0% cap · market cap 6.23%
Theoretical Best
Office A
$343.9K
$300.9K – $401.2K
NOI $24,073 @ 7.0% cap · market cap 7.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
278
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 08501, NJ
6,574
Population
2,495
Households
2.6
Avg Household Size
46
Median Age
60%
College-Educated
96%
High-School Grad
27.2 sq mi
ZIP Area
242
Density / Sq Mi
$133,015
Median Household Income
$71,700
Median Earnings
$1,457
Median Rent
$530,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - A two-level layout combines patient reception and exam areas with private office and staff space.
Where is this medical office space located?
The property is located at 10 S MAIN STREET Allentown, NJ.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: 1,317‑square‑foot medical office built in 1825; Three exam rooms, including one with vaulted ceilings and natural light; Reception and waiting areas with an accessible bathroom
