Multi-Tenant Office
New
For Sale
$649,900
1370 CHEWS LANDING ROAD, Clementon, NJ 08021
A two-story office property has multiple suites, rear parking and the option for occupied or vacant delivery with 60 days’ notice.
Property Size2,800 SF
Price / SF$232.11
Days on Market4
Property Features for 1370 CHEWS LANDING ROAD
General Information
Standard status
Active
Size
2,800 SF
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
LVP flooring
LED lighting
security alarm systems
exterior camera surveillance
signage
Building Details
Year Built
1955
Buildings
1
Stories
2
Building Size
2,800 SF
Tenancy
Multi
Listing Agency:
Hedenberg Real Estate Company LLC
(856) 556-0011
Listed By:
Brandon Hedenberg · License #AB069194
(856) 397-5744
Source:
Cummingsrealtors
Added: Sep 24
Changed: Sep 26
Last Checked: Sep 26 at 8:09AM
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 Hedenberg Real Estate Company LLC
Investment Insights
Based on property information with market context.
This 2,800 SF office building in Clementon is arranged over two stories and contains approximately 12 offices. Multiple tenants currently occupy the property; delivery can be with tenants in place or vacant with 60 days’ notice. Interior features include LVP flooring, LED lighting and security alarms. HVAC systems have been maintained, and a second-floor unit was installed within the past five years. The building dates to 1955.
A large parking lot sits behind the building, with camera surveillance outdoors. Signage faces Chews Landing Road, and the property has access to Route 42, I-295 and the NJ Turnpike.
A large parking lot sits behind the building, with camera surveillance outdoors. Signage faces Chews Landing Road, and the property has access to Route 42, I-295 and the NJ Turnpike.
Key Highlights
- Approximately 2,800 SF across two stories
- About 12 offices; currently occupied by multiple tenants, with vacant delivery available on 60 days’ notice
- Second‑floor HVAC unit installed within the past five years
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
$39,291
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
6.05%
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%
$785,820
$785.8K
Cap Rate 7%
$561,300
$561.3K
Cap Rate 9%
$436,567
$436.6K
Market Conditions
NOI Build-Up for 2,800 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
$61.5K $21.96/SF
− Vacancy
−$9.1K −$3.25/SF
EGI
$52.4K $18.71/SF
− OpEx
−$13.1K −$4.68/SF
NOI
$39.3K $14.03/SF
Area
Camden County, NJ
Vacancy
14.80%
Lease Rate
$21.96 /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%
$785,820
Cap Rate 7%
$561,300
Cap Rate 9%
$436,567
Alternative Uses
Best Use
Office B
$561.3K
$491.1K – $654.9K
NOI $39,291 @ 7.0% cap · market cap 6.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$710.0K
$621.2K – $828.3K
NOI $49,697 @ 7.0% cap · market cap 7.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
354
Businesses Nearby
Explore this area
Business Placement
Demographics for 08021, NJ
51,458
Population
22,195
Households
2.3
Avg Household Size
37
Median Age
25%
College-Educated
90%
High-School Grad
13.0 sq mi
ZIP Area
3,958
Density / Sq Mi
$67,439
Median Household Income
$42,864
Median Earnings
$1,288
Median Rent
$192,200
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 building - A two-story office property has multiple suites, rear parking and the option for occupied or vacant delivery with 60 days’ notice.
Where is this office building located?
The property is located at 1370 CHEWS LANDING ROAD Clementon, NJ.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: Approximately 2,800 SF across two stories; About 12 offices; currently occupied by multiple tenants, with vacant delivery available on 60 days’ notice; Second‑floor HVAC unit installed within the past five years
