Historic Brownstone Office
For Sale
Contact for pricing
202 W State St, Trenton, NJ 08608
Four-story masonry office building with small suites and private tenant parking on two parcels.
Property Size5,000 SF
Price / SF$115
Days on Market1130
Property Features for 202 W State St
General Information
Standard status
Active
Size
5,000 SF
Property subtype
OFFICE
Listing Agency:
Segal LaBate Commercial Real Estate
(609) 947-5812
Listed By:
Anne LaBate · License #9587202
(609) 947-5812
Source:
Moodyscre
Added: Jun 27, 2023
Changed: Jul 25
Last Checked: Jul 25 at 3:23PM
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 Segal LaBate Commercial Real Estate
Investment Insights
Based on property information with market context.
A classic four-story brownstone-style masonry building on two parcels, offering above-grade office space and flexibility for small suite configurations. The property includes a 2-car garage and a parking lot designed to support on-site tenant parking.
The building is located in Trenton’s State House Historic District and sits across from the NJ State House. It is within a short walk of government buildings, restaurants, and historic and cultural sites. The second parcel is positioned on the corner of Capital Street and Greens Place and provides parking for 10 vehicles, with additional rear parking for tenants.
Zoned BA-Historic District, the property features architectural characteristics described as difficult to replicate and is set up to accommodate separately leased or combined office suites depending on space needs.
The building is located in Trenton’s State House Historic District and sits across from the NJ State House. It is within a short walk of government buildings, restaurants, and historic and cultural sites. The second parcel is positioned on the corner of Capital Street and Greens Place and provides parking for 10 vehicles, with additional rear parking for tenants.
Zoned BA-Historic District, the property features architectural characteristics described as difficult to replicate and is set up to accommodate separately leased or combined office suites depending on space needs.
Key Highlights
- Four‑story masonry building in Trenton’s State House Historic District on two parcels (Block 3707 Lot 3 and Block 3706 Lot 1).
- Block 3707 Lot 3: approx. 18.4' x 176' lot with approx. 1,400 SF footprint and approx. 5,026 SF above‑grade area.
- Block 3706 Lot 1: corner parking lot approx. 47.43' x 54.33' on Capital Street and Greens Place, with space for 10 vehicles.
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $67.2k | $13.44 |
| − Vacancy | −$7.4k | −$1.48 |
| EGI | $59.8k | $11.96 |
| − OpEx | −$15.0k | −$2.99 |
| NOI | $44.9k | $8.97 |
5,000 SF · lease $13.44/SF/yr · vacancy 11.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$640.8K
$560.7K – $747.6K
NOI $44,856 @ 7.0% cap · market cap 7.80%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$1.61M
$1.41M – $1.88M
NOI $112,608 @ 7.0% cap · market cap 19.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,040
Businesses Nearby
Explore this area
Business Placement
Demographics for 08608, NJ
1,269
Population
645
Households
2
Avg Household Size
41
Median Age
25%
College-Educated
77%
High-School Grad
0.3 sq mi
ZIP Area
4,230
Density / Sq Mi
$48,232
Median Earnings
$1,009
Median Rent
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 units - Four-story masonry office building with small suites and private tenant parking on two parcels.
Where is this office units located?
The property is located at 202 W State St Trenton, NJ.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Four‑story masonry building in Trenton’s State House Historic District on two parcels (Block 3707 Lot 3 and Block 3706 Lot 1).; Block 3707 Lot 3: approx. 18.4' x 176' lot with approx. 1,400 SF footprint and approx. 5,026 SF above‑grade area.; Block 3706 Lot 1: corner parking lot approx. 47.43' x 54.33' on Capital Street and Greens Place, with space for 10 vehicles.
