Building Details

Building Size 1,200 SF

Year Built 1930

Listed By: Sue Burns Show Phone

Source: Evrealestate

Added: Feb 17 Changed: Sep 3 Last Checked: Sep 1 at 8:20PM

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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 Sue Burns

Investment Insights

Based on property information with market context.

This commercial property is configured as a professional office with a medical-style layout. The building is situated on a highly visible 1-acre lot along Route 206. It features a spacious waiting room, a reception area, five private rooms, a kitchenette, and two private restrooms, including one ADA-accessible restroom. On-site parking is available for approximately 20 vehicles, including two ADA-accessible spaces. The location offers strong visibility and easy access, making it suitable for professional office, medical, or general business use. A floor plan is available, indicating a flexible layout.

Key Highlights

• Highly visible 1‑acre lot on Route 206.
• Ample on‑site parking for approximately 20 vehicles, including two ADA‑accessible spaces.
• Flexible layout suitable for professional office, medical, or general business use.

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

$16,677

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

4.39%

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%

$333,540 $333.5K

Cap Rate 7%

$238,243 $238.2K

Cap Rate 9%

$185,300 $185.3K

Market Conditions

NOI Build-Up for 1,200 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

$30.0K $24.96/SF

− Vacancy

−$2.2K −$1.80/SF

EGI

$27.8K $23.16/SF

− OpEx

−$11.1K −$9.27/SF

NOI

$16.7K $13.90/SF

Area

Burlington County, NJ

Vacancy

7.20%

Lease Rate

$24.96 /SF/Yr

Expense Ratio

40.00%

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%

$333,540

Cap Rate 7%

$238,243

Cap Rate 9%

$185,300

Alternative Uses

Best Use

Healthcare Medical

$238.2K

$208.5K – $278.0K (±1% cap)

NOI $16,677 @ 7.0% cap · market cap 4.39%

Second Best

Office B

$153.8K

$134.6K – $179.4K (±1% cap)

NOI $10,765 @ 7.0% cap · market cap 2.83%

Theoretical Best

Warehouse

$2.51M

$2.20M – $2.93M (±1% cap)

NOI $175,684 @ 7.0% cap · market cap 46.24%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Medical Office Space

Suggested Use

Top Pick Real Estate Agency Parking Lot & Garage Big Box & Wholesale Store Auto Parts Store Electrical Service Dental Office

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

103

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 08088, NJ

24,095

Population

10,011

Households

2.4

Avg Household Size

50

Median Age

37%

College-Educated

94%

High-School Grad

150.5 sq mi

ZIP Area

160

Density / Sq Mi

$107,980

Median Household Income

$63,633

Median Earnings

$1,793

Median Rent

$344,900

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this medical office space located? What is the asking price? Find similar properties What are key features of this property?

Similar Off Market Nearby

• Aimee Kompel — 1565 US-206, Tabernacle, NJ 080888863

Frequently Asked Questions

What type of property is this?

Medical Office Space - Well-maintained office building on a highly visible one-acre lot.

Where is this medical office space located?

The property is located at 1531 ROUTE 206 Tabernacle, NJ.

What is the asking price?

The asking price for this property is $379,900.

What are key features of this property?

This property features: Highly visible 1‑acre lot on Route 206.; Ample on‑site parking for approximately 20 vehicles, including two ADA‑accessible spaces.; Flexible layout suitable for professional office, medical, or general business use.