Vacant Office
For Sale
Contact for pricing
684 Whitehead Rd, Lawrence, NJ 08648
Office-zoned property with a brand-new HVAC system, on-site parking, and access to electric, gas, water, sewer, and cable.
Property Size10,000 SF
Price / SF$155
Days on Market522
Property Features for 684 Whitehead Rd
General Information
Standard status
Active
Size
10,000 SF
Total Parking Spaces
35
Property subtype
OFFICE
Zoning
O
Site & Location
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Amenities
restaurants in close proximity
Listing Agency:
Fennelly Associates
(609) 306-3158
Listed By:
Gerard J. Fennelly
(609) 306-3158
Source:
Moodyscre
Added: Mar 27, 2025
Changed: Aug 29
Last Checked: Aug 29 at 5:33PM
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 Fennelly Associates
Investment Insights
Based on property information with market context.
This 10,000-square-foot office building is 100% vacant and designated O – Office. The property includes a brand-new HVAC system and 35 parking spaces, with electric, gas, water, sewer, and cable service available, including Verizon and Comcast.
The building is situated on Business Route 1, with access to Trenton, Philadelphia, New York, and Princeton. Hamilton Train Station is five minutes away, and restaurants are located in close proximity.
The building is situated on Business Route 1, with access to Trenton, Philadelphia, New York, and Princeton. Hamilton Train Station is five minutes away, and restaurants are located in close proximity.
Key Highlights
- 10,000 square feet of office space
- 100% vacant office building
- O – Office zoning
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
$89,712
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
5.79%
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%
$1,794,240
$1.8M
Cap Rate 7%
$1,281,600
$1.3M
Cap Rate 9%
$996,800
$996.8K
Market Conditions
NOI Build-Up for 10,000 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
$134.4K $13.44/SF
− Vacancy
−$14.8K −$1.48/SF
EGI
$119.6K $11.96/SF
− OpEx
−$29.9K −$2.99/SF
NOI
$89.7K $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%
$1,794,240
Cap Rate 7%
$1,281,600
Cap Rate 9%
$996,800
Alternative Uses
Best Use
Office B
$1.28M
$1.12M – $1.50M
NOI $89,712 @ 7.0% cap · market cap 5.79%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$3.22M
$2.82M – $3.75M
NOI $225,216 @ 7.0% cap · market cap 14.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
590
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Office-zoned property with a brand-new HVAC system, on-site parking, and access to electric, gas, water, sewer, and cable.
Where is this office building located?
The property is located at 684 Whitehead Rd Lawrence, NJ.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: 10,000 square feet of office space; 100% vacant office building; O – Office zoning
