Two-Unit Professional Office
For Sale
$650,000
150 HIMMELEIN Road, Medford, NJ 08055
Commercial Sale, MEDFORD, NJ
Property Size3,640 SF
Price / SF$178.57
Days on Market106
Property Features for 150 HIMMELEIN Road
General Information
Property type
Other
Property subtype
Office
Parking
40
Parking features
Parking Lot
Subdivision
VILLAGE GREEN
High school
SHAWNEE
Elementary school district
LENAPE REGIONAL HIGH
Middle school district
LENAPE REGIONAL HIGH
High school district
LENAPE REGIONAL HIGH
Standard status
Active
Taxes and HOA fees
Tax Annual Amount
8826
Utilities
Heating system
Central, Forced Air
Cooling system
Central Air
Building Details
Year built
1881
Number of units
2
Building materials
Vinyl Siding
Listing Agency:
Keller Williams Realty - Marlton
(856) 441-6800
Listed By:
James L Moffa · License #901791
(609) 458-3711
Added: May 9
Changed: Aug 19
Last Checked: Aug 22 at 11:06AM
MLS# NJBL2111222
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Two-unit professional office condominium offering +/-3,640 SF of flex space across a first-floor 2,240 SF unit and a second-floor 1,400 SF unit, plus an additional basement level. The layout is configured for professional use and can be used as two separate units or adapted for multiple occupancy configurations.
Part of a professionally managed association, the property includes common area maintenance, snow removal, landscaping, and trash services. The building features vinyl siding and is heated by forced air with central heating and cooled with central air. On-site parking is provided in a parking lot, and the property is dated to 1881.
Strategically located in Medford, NJ at 150 Himmelein Road, the site offers proximity and accessibility to major transportation routes including I-295, Routes 38, 70, 73, and 206, as well as the New Jersey and Pennsylvania Turnpikes and the Atlantic City Expressway. Additional nearby dining and retail options include Promenade Shopping Center, Moorestown Mall, Cherry Hill Mall, Centerton Square, and The Marketplace at Garden State Park. Public sewer service is available, and a private well serves the property. This building is being offered as an “AS IS” sale.
Part of a professionally managed association, the property includes common area maintenance, snow removal, landscaping, and trash services. The building features vinyl siding and is heated by forced air with central heating and cooled with central air. On-site parking is provided in a parking lot, and the property is dated to 1881.
Strategically located in Medford, NJ at 150 Himmelein Road, the site offers proximity and accessibility to major transportation routes including I-295, Routes 38, 70, 73, and 206, as well as the New Jersey and Pennsylvania Turnpikes and the Atlantic City Expressway. Additional nearby dining and retail options include Promenade Shopping Center, Moorestown Mall, Cherry Hill Mall, Centerton Square, and The Marketplace at Garden State Park. Public sewer service is available, and a private well serves the property. This building is being offered as an “AS IS” sale.
Key Highlights
- +/-3,640 SF professional office condo with two units: 2,240 SF first floor and 1,400 SF second floor
- Additional basement level for extra storage or support space
- Professionally managed association includes common area maintenance, snow removal, landscaping, and trash services
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
$32,655
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
5.02%
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%
$653,100
$653.1K
Cap Rate 7%
$466,500
$466.5K
Cap Rate 9%
$362,833
$362.8K
Market Conditions
NOI Build-Up for 3,640 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
$48.9K $13.44/SF
− Vacancy
−$5.4K −$1.48/SF
EGI
$43.5K $11.96/SF
− OpEx
−$10.9K −$2.99/SF
NOI
$32.7K $8.97/SF
Area
Burlington 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%
$653,100
Cap Rate 7%
$466,500
Cap Rate 9%
$362,833
Alternative Uses
Best Use
Office B
$466.5K
$408.2K – $544.3K
NOI $32,655 @ 7.0% cap · market cap 5.02%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$7.61M
$6.66M – $8.88M
NOI $532,909 @ 7.0% cap · market cap 81.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
215
Businesses Nearby
Explore this area
Business Placement
Demographics for 08055, NJ
28,806
Population
11,103
Households
2.6
Avg Household Size
45
Median Age
63%
College-Educated
98%
High-School Grad
40.0 sq mi
ZIP Area
720
Density / Sq Mi
$158,487
Median Household Income
$77,304
Median Earnings
$1,502
Median Rent
$456,000
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 - Two professionally maintained office condo units in a managed association, with central HVAC and on-site parking lot access.
Where is this office units located?
The property is located at 150 HIMMELEIN Road Medford, NJ.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: +/-3,640 SF professional office condo with two units: 2,240 SF first floor and 1,400 SF second floor; Additional basement level for extra storage or support space; Professionally managed association includes common area maintenance, snow removal, landscaping, and trash services
