Medical Office Space
For Sale
$995,000
1 Washington Blvd #3 & 4, Trenton, NJ 08691
Office space approved for medical use in Robbinsville Twp.
Property Size3,990 SF
Price / SF$249.37
Days on Market1068
Property Features for 1 Washington Blvd #3 & 4
General Information
Standard status
Active
Size
3,990 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$10,122
Building Details
Year Built
2014
Listing Agency:
JOSEPH R RIDOLFI & ASSOCIATES LLC
(609) 581-4848
Listed By:
JOSEPH R RIDOLFI · License #7819144
Source:
Corcoran
Added: Oct 4, 2023
Changed: Aug 8
Last Checked: Sep 4 at 6:19AM
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 JOSEPH R RIDOLFI & ASSOCIATES LLC
Investment Insights
Based on property information with market context.
This office space, approved for medical use, is located in Robbinsville Township. The first-floor suite offers 3,990 square feet of space and includes a lobby with a reception desk, five private offices, a large conference room, a mailroom/IT closet, separate bathrooms, a large open area with cubicles, and a break area. The basement, accessible by elevator, provides an additional 623 square feet of storage and office space. The basement is sprinklered and has access to a shared conference/training room. The property is located close to Route 33, Route 130, I-195, the New Jersey Turnpike, I-295, and Route 1. A short-term leaseback is in place until the current owner/tenant can move, with a duration of approximately 6 to 12 months.
Key Highlights
- Approved for medical use office space.
- First floor suite offering 3990 SF.
- Convenient location near major highways: Rt 33, Rt 130, I‑195, NJ Turnpike, I‑295, Rt 1.
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
$55,406
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
5.57%
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%
$1,108,120
$1.1M
Cap Rate 7%
$791,514
$791.5K
Cap Rate 9%
$615,622
$615.6K
Market Conditions
NOI Build-Up for 3,990 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
$117.8K $29.52/SF
− Vacancy
−$25.4K −$6.38/SF
EGI
$92.3K $23.14/SF
− OpEx
−$36.9K −$9.26/SF
NOI
$55.4K $13.89/SF
Area
Mercer County, NJ
Vacancy
21.60%
Lease Rate
$29.52 /SF/Yr
Expense Ratio
40.00%
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%
$1,108,120
Cap Rate 7%
$791,514
Cap Rate 9%
$615,622
Alternative Uses
Best Use
Healthcare Medical
$791.5K
$692.6K – $923.4K
NOI $55,406 @ 7.0% cap · market cap 5.57%
Second Best
Office B
$511.4K
$447.4K – $596.6K
NOI $35,795 @ 7.0% cap · market cap 3.60%
Theoretical Best
Warehouse
$1.28M
$1.12M – $1.50M
NOI $89,861 @ 7.0% cap · market cap 9.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
23
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 08691, NJ
16,866
Population
7,322
Households
2.3
Avg Household Size
43
Median Age
63%
College-Educated
97%
High-School Grad
24.2 sq mi
ZIP Area
697
Density / Sq Mi
$129,900
Median Household Income
$85,331
Median Earnings
$1,845
Median Rent
$523,500
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?
Medical Office Space - Office space approved for medical use in Robbinsville Twp.
Where is this medical office space located?
The property is located at 1 Washington Blvd #3 & 4 Trenton, NJ.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Approved for medical use office space.; First floor suite offering 3990 SF.; Convenient location near major highways: Rt 33, Rt 130, I‑195, NJ Turnpike, I‑295, Rt 1.
