Freestanding Building on Route
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600 Lawrence Rd, Lawrence Township, NJ 08648
Freestanding office building with frontage on Route 206.
Property Size3,352 SF
Price / SF$147.67
Days on Market567
Property Features for 600 Lawrence Rd
General Information
Standard status
Active
Size
3,352 SF
Property subtype
Office
Zoning
R-4
Building Details
Year Built
1953
Year Renovated
2001
Buildings
1
Stories
1
Listing Agency:
KW Commercial/ Richardson Commercial Group
(609) 586-1000
Listed By:
Steven Marusky, CCIM, GRI · License #NJ 7855828
Source:
Crexi
Added: Feb 11, 2025
Changed: Aug 26
Last Checked: Aug 31 at 1:19PM
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 KW Commercial/ Richardson Commercial Group
Investment Insights
Based on property information with market context.
This is a freestanding one and partial two-story building with approximately 2,600 square feet on the first floor and approximately 752 square feet on the second floor. The building has approximately 200 feet of frontage on Route 206 in Lawrence Township. The second floor is accessible from the first floor and also has a separate entrance, allowing it to be utilized as part of the office or rented out separately.
Key Highlights
- High visibility with 200± feet of frontage on Route 206.
- Free‑standing building** offering independence and control.
- Total of 3,352+/- square feet of usable space (2,600+/- sq ft on the first floor and 752+/- sq ft on the second floor).
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
$30,071
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
6.07%
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%
$601,420
$601.4K
Cap Rate 7%
$429,586
$429.6K
Cap Rate 9%
$334,122
$334.1K
Market Conditions
NOI Build-Up for 3,352 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
$45.1K $13.44/SF
− Vacancy
−$5.0K −$1.48/SF
EGI
$40.1K $11.96/SF
− OpEx
−$10.0K −$2.99/SF
NOI
$30.1K $8.97/SF
Area
Mercer County, NJ
Vacancy
11.00%
Lease Rate
$13.44 /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%
$601,420
Cap Rate 7%
$429,586
Cap Rate 9%
$334,122
Alternative Uses
Best Use
Office B
$429.6K
$375.9K – $501.2K
NOI $30,071 @ 7.0% cap · market cap 6.07%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$1.08M
$943.7K – $1.26M
NOI $75,492 @ 7.0% cap · market cap 15.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
432
Businesses Nearby
Explore this area
Business Placement
Demographics for 08648, NJ
31,955
Population
12,217
Households
2.6
Avg Household Size
40
Median Age
60%
College-Educated
92%
High-School Grad
16.7 sq mi
ZIP Area
1,913
Density / Sq Mi
$118,036
Median Household Income
$54,833
Median Earnings
$1,953
Median Rent
$395,400
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Freestanding office building with frontage on Route 206.
Where is this office building located?
The property is located at 600 Lawrence Rd Lawrence Township, NJ.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: High visibility with **200± feet of frontage on Route 206.**; Free‑standing building** offering independence and control.; Total of 3,352+/- square feet of usable space (2,600+/- sq ft on the first floor and 752+/- sq ft on the second floor).
