Three-Level Medical Office
New
For Sale
$495,000
151 Fries Mill Rd Unit 104, Blackwood, NJ 08012
Configured for medical operations with exam rooms, private offices, reception, laboratory, and support areas.
Property Size2,590 SF
Price / SF$191.12
Days on Market3
Property Features for 151 Fries Mill Rd Unit 104
General Information
Standard status
Active
Size
2,590 SF
Property subtype
Office
Additional Details
Office Units
1
Building Details
Building Size
2,590 SF
Listing Agency:
NAI Mertz - Corporate
(609) 352-1162
Listed By:
Joe Riggs
Source:
Naiglobal
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 9 at 4:56PM
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 NAI Mertz - Corporate
Investment Insights
Based on property information with market context.
This medical office suite encompasses 2,590 SF across three floors and offers a detailed clinical and administrative layout. The space includes three bathrooms, three exam rooms, a lab room, reception with copier and supply room, a waiting area, and three private offices. Additional areas include a conference or sitting area, break area with kitchenette, storage room, IT closet, and three closets.
The configuration places two private offices and two closets on the second floor, with one office and one closet in the basement. The basement also includes an open conference or sitting area, while the suite’s reception, waiting, clinical, and support spaces provide a range of dedicated functions within the medical office environment.
The configuration places two private offices and two closets on the second floor, with one office and one closet in the basement. The basement also includes an open conference or sitting area, while the suite’s reception, waiting, clinical, and support spaces provide a range of dedicated functions within the medical office environment.
Key Highlights
- 2,590 SF medical office suite arranged across three floors
- Three exam rooms, three bathrooms, and one lab room
- Three private offices, including two on the second floor and one in the basement
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
$36,344
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
7.34%
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%
$726,880
$726.9K
Cap Rate 7%
$519,200
$519.2K
Cap Rate 9%
$403,822
$403.8K
Market Conditions
NOI Build-Up for 2,590 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
$56.9K $21.96/SF
− Vacancy
−$8.4K −$3.25/SF
EGI
$48.5K $18.71/SF
− OpEx
−$12.1K −$4.68/SF
NOI
$36.3K $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%
$726,880
Cap Rate 7%
$519,200
Cap Rate 9%
$403,822
Alternative Uses
Best Use
Office B
$519.2K
$454.3K – $605.7K
NOI $36,344 @ 7.0% cap · market cap 7.34%
Second Best
Healthcare Medical
$453.9K
$397.2K – $529.6K
NOI $31,776 @ 7.0% cap · market cap 6.42%
Theoretical Best
Office A
$656.7K
$574.6K – $766.2K
NOI $45,970 @ 7.0% cap · market cap 9.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
624
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 08012, NJ
38,581
Population
16,192
Households
2.4
Avg Household Size
40
Median Age
34%
College-Educated
95%
High-School Grad
15.0 sq mi
ZIP Area
2,572
Density / Sq Mi
$93,497
Median Household Income
$52,650
Median Earnings
$1,589
Median Rent
$268,500
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?
Medical Office Space - Configured for medical operations with exam rooms, private offices, reception, laboratory, and support areas.
Where is this medical office space located?
The property is located at 151 Fries Mill Rd Unit 104 Blackwood, NJ.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 2,590 SF medical office suite arranged across three floors; Three exam rooms, three bathrooms, and one lab room; Three private offices, including two on the second floor and one in the basement
