Multi-Floor Office and Retail
For Sale
Contact for pricing
1501 TILTON RD, Northfield, NJ 08225
Multi-floor building with elevator service and on-site parking, featuring office and training space plus a leasing-ready first floor.
Property Size15,973 SF
Price / SF$175.30
Days on Market90
Property Features for 1501 TILTON RD
General Information
Standard status
Active
Size
15,973 SF
Property subtype
Office
Zoning
Off Prof
Lease Type
NNN
Investment Type
Redevelopment
Building Details
Buildings
1
Stories
2
Units
53
Tenancy
Multi
Listing Agency:
Foresite Commercial Realty
(609) 646-1919
Listed By:
Samantha Zerafa Roessler · License #NJ 1643608
Source:
Crexi
Added: Jun 2
Changed: Aug 28
Last Checked: Aug 29 at 4:29AM
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 Foresite Commercial Realty
Investment Insights
Based on property information with market context.
The property is a 15,970+/- sf multi-floor building with elevator access serving all three floors. The lower level and second floor are finished for office use and include a training room. The first floor is currently vacant and was formerly occupied by Bank of America, and it is being marketed for lease. There is on-site parking, with stated potential to increase the number of parking spaces. The building also offers signage, including monument signage.
The asset is positioned in the heart of the Northfield Business district with access to all Shore Points. A short-term lease is in place for more than 9,000 sf, while the first floor is available for leasing and potential exists to lease the entire building. Call listing agents for further details.
For tenants and buyers, the layout supports an owner-occupant strategy or a multi-tenant configuration, with finished office space and a dedicated training room on the lower and second floors. The vacant first floor provides immediate flexibility for a range of office-oriented users, with the option to pursue a larger footprint if a full-building requirement develops. On-site parking and building signage support day-to-day customer and client access.
The asset is positioned in the heart of the Northfield Business district with access to all Shore Points. A short-term lease is in place for more than 9,000 sf, while the first floor is available for leasing and potential exists to lease the entire building. Call listing agents for further details.
For tenants and buyers, the layout supports an owner-occupant strategy or a multi-tenant configuration, with finished office space and a dedicated training room on the lower and second floors. The vacant first floor provides immediate flexibility for a range of office-oriented users, with the option to pursue a larger footprint if a full-building requirement develops. On-site parking and building signage support day-to-day customer and client access.
Key Highlights
- 15,970+/- SF multi‑floor building with elevator access to all 3 floors
- Short‑term lease in place for 9,000+ SF; first floor (former Bank of America) currently vacant
- Lower level and 2nd floor are finished as office space and a training 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
$234,022
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
8.36%
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%
$4,680,440
$4.7M
Cap Rate 7%
$3,343,171
$3.3M
Cap Rate 9%
$2,600,244
$2.6M
Market Conditions
NOI Build-Up for 15,973 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
$427.4K $26.76/SF
− Vacancy
−$115.4K −$7.23/SF
EGI
$312.0K $19.53/SF
− OpEx
−$78.0K −$4.88/SF
NOI
$234.0K $14.65/SF
Area
Atlantic County, NJ
Vacancy
27.00%
Lease Rate
$26.76 /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%
$4,680,440
Cap Rate 7%
$3,343,171
Cap Rate 9%
$2,600,244
Alternative Uses
Best Use
Office B
$3.34M
$2.93M – $3.90M
NOI $234,022 @ 7.0% cap · market cap 8.36%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$5.95M
$5.20M – $6.94M
NOI $416,377 @ 7.0% cap · market cap 14.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
774
Businesses Nearby
Explore this area
Business Placement
Demographics for 08225, NJ
8,442
Population
3,447
Households
2.4
Avg Household Size
44
Median Age
46%
College-Educated
93%
High-School Grad
6.1 sq mi
ZIP Area
1,384
Density / Sq Mi
$104,042
Median Household Income
$50,938
Median Earnings
$1,554
Median Rent
$275,900
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 - Multi-floor building with elevator service and on-site parking, featuring office and training space plus a leasing-ready first floor.
Where is this office building located?
The property is located at 1501 TILTON RD Northfield, NJ.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: 15,970+/- SF multi‑floor building with elevator access to all 3 floors; Short‑term lease in place for 9,000+ SF; first floor (former Bank of America) currently vacant; Lower level and 2nd floor are finished as office space and a training room
