Office Space with Retail
For Sale
$995,000
1309 Route 70 W, Cherry Hill, NJ 08002
For-sale office suite on Route 70 W with signage opportunity and parking for staff and visitors.
Property Size2,991 SF
Price / SF$332.66
Days on Market135
Property Features for 1309 Route 70 W
General Information
Standard status
Active
Size
2,991 SF
Building Details
Year Built
1970
Listing Agency:
Sabal Real Estate
Listed By:
Jenifer Raffa
Source:
Kandorre
Added: Apr 24
Changed: Aug 23
Last Checked: Sep 4 at 10:26AM
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 Sabal Real Estate
Investment Insights
Based on property information with market context.
This for-sale office suite is positioned along Route 70 W and is described as offering retail-style visibility. The offering includes signage opportunity and is sized as 2,991 (per the property information). It is presented for professional, medical, or creative office use, with ample parking for staff and visitors.
The property is located in Cherry Hill, NJ, and the remarks note easy access to I-295 and the NJ Turnpike. The area is described as surrounded by a mix of retail, dining, medical, and professional services, including national retailers and restaurants.
The location is also described as convenient to Cherry Hill Mall, Garden State Pavilion, and downtown Haddonfield.
The property is located in Cherry Hill, NJ, and the remarks note easy access to I-295 and the NJ Turnpike. The area is described as surrounded by a mix of retail, dining, medical, and professional services, including national retailers and restaurants.
The location is also described as convenient to Cherry Hill Mall, Garden State Pavilion, and downtown Haddonfield.
Key Highlights
- For‑sale office suite with retail exposure along Route 70 W in Cherry Hill, NJ
- Highly visible Route 70 frontage with signage opportunity
- Parking available for staff and visitors
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
$45,762
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
4.60%
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%
$915,240
$915.2K
Cap Rate 7%
$653,743
$653.7K
Cap Rate 9%
$508,467
$508.5K
Market Conditions
NOI Build-Up for 2,991 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
$89.7K $30.00/SF
− Vacancy
−$28.7K −$9.60/SF
EGI
$61.0K $20.40/SF
− OpEx
−$15.3K −$5.10/SF
NOI
$45.8K $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%
$915,240
Cap Rate 7%
$653,743
Cap Rate 9%
$508,467
Alternative Uses
Best Use
Office B
$653.7K
$572.0K – $762.7K
NOI $45,762 @ 7.0% cap · market cap 4.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$781.0K
$683.4K – $911.2K
NOI $54,671 @ 7.0% cap · market cap 5.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,300
Businesses Nearby
Explore this area
Business Placement
Demographics for 08002, NJ
23,920
Population
9,967
Households
2.4
Avg Household Size
41
Median Age
46%
College-Educated
92%
High-School Grad
7.2 sq mi
ZIP Area
3,322
Density / Sq Mi
$105,523
Median Household Income
$56,963
Median Earnings
$1,895
Median Rent
$301,200
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 units - For-sale office suite on Route 70 W with signage opportunity and parking for staff and visitors.
Where is this office units located?
The property is located at 1309 Route 70 W Cherry Hill, 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: For‑sale office suite with retail exposure along Route 70 W in Cherry Hill, NJ; Highly visible Route 70 frontage with signage opportunity; Parking available for staff and visitors
