Converted Barn Office
New
For Sale
$875,000
150 Himmelien Rd, Medford, NJ 08055
Three-level layout includes executive offices, conference space, open work areas, and a kitchenette.
Property Size4,114 SF
Price / SF$212.69
Days on Market6
Property Features for 150 Himmelien Rd
General Information
Standard status
Active
Size
4,114 SF
Additional Details
HOA Fee
$700
Highway Access
Yes
Amenities
reception area
executive conference room
open workspace
private offices
kitchenette
copy area
file room
Building Details
Year Built
1933
Buildings
1
Stories
3
Construction
barn
Listing Agency:
Keller Williams Realty - Marlton
Listed By:
James L Moffa, JANE BALMER-CRAFTS
Source:
Soldbypattie
Added: Aug 24
Changed: Aug 28
Last Checked: Aug 29 at 12:06PM
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 Keller Williams Realty - Marlton
Investment Insights
Based on property information with market context.
This 4,114-square-foot office property is a converted barn with three levels of professional workspace. The first floor includes a reception area, six executive offices, and a conference room. Upper floors add open work areas, private offices, a kitchenette, copy space, a file room, and flexible areas suited to design or operational functions. The building was constructed in 1933 and has been updated and maintained with finished professional interiors.
The configuration can support one occupant, multiple occupants, or two separate office units. A professionally managed association handles common-area maintenance, snow removal, landscaping, and trash service. The property is located near I-295, Routes 38, 70, 73, and 206, along with the New Jersey and Pennsylvania Turnpikes and the Atlantic City Expressway. Shopping and medical destinations in the surrounding area include the Promenade Shopping Center, Moorestown Mall, Cherry Hill Mall, Centerton Square, and Marketplace at Garden State Park.
The configuration can support one occupant, multiple occupants, or two separate office units. A professionally managed association handles common-area maintenance, snow removal, landscaping, and trash service. The property is located near I-295, Routes 38, 70, 73, and 206, along with the New Jersey and Pennsylvania Turnpikes and the Atlantic City Expressway. Shopping and medical destinations in the surrounding area include the Promenade Shopping Center, Moorestown Mall, Cherry Hill Mall, Centerton Square, and Marketplace at Garden State Park.
Key Highlights
- 4,114 SF converted barn office building
- Three‑story layout with six executive offices and a conference room
- Open work areas, private offices, kitchenette, copy area, and file room
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
$36,908
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
4.22%
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%
$738,160
$738.2K
Cap Rate 7%
$527,257
$527.3K
Cap Rate 9%
$410,089
$410.1K
Market Conditions
NOI Build-Up for 4,114 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
$55.3K $13.44/SF
− Vacancy
−$6.1K −$1.48/SF
EGI
$49.2K $11.96/SF
− OpEx
−$12.3K −$2.99/SF
NOI
$36.9K $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%
$738,160
Cap Rate 7%
$527,257
Cap Rate 9%
$410,089
Alternative Uses
Best Use
Office B
$527.3K
$461.4K – $615.1K
NOI $36,908 @ 7.0% cap · market cap 4.22%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$8.60M
$7.53M – $10.04M
NOI $602,305 @ 7.0% cap · market cap 68.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
218
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 building - Three-level layout includes executive offices, conference space, open work areas, and a kitchenette.
Where is this office building located?
The property is located at 150 Himmelien Rd Medford, NJ.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: 4,114 SF converted barn office building; Three‑story layout with six executive offices and a conference room; Open work areas, private offices, kitchenette, copy area, and file room
