Lawrenceville Freestanding Professional
For Sale
$888,000
172 Franklin Corner Rd, Lawrence Township, NJ 08648
Renovated 2,450 sq ft building with private parking.
Property Size3,152 SF
Price / SF$281.73
Days on Market182
Property Features for 172 Franklin Corner Rd
General Information
Standard status
Active
Size
3,152 SF
Building Details
Year Built
1950
Listing Agency:
Keller Williams Cornerstone Realty
Listed By:
Mia L Chen
(908) 359-0893
Source:
Kandorre
Added: Mar 5
Changed: Sep 3
Last Checked: Sep 1 at 10:42PM
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 Cornerstone Realty
Investment Insights
Based on property information with market context.
Located on Franklin Corner Road in Lawrenceville, this fully renovated 2,450 sq ft freestanding professional building offers independence and visibility. The building has been thoughtfully designed, offering a customizable space for various business needs. It is suitable for law firms, accounting firms, therapy or behavioral health practices, architecture or design studios, insurance agencies, physical therapy or boutique medical users, aesthetic practices, specialty fitness or education centers, private tutoring or executive coaching, high-performing salons or service businesses, and other specialty businesses. The main level features an open and flexible layout ready for professional customization and an ADA-compliant bathroom. The second level offers fully finished flexible space, a full bathroom, and a separate exterior entrance, making it ideal for private offices, admin support, or expansion. A large private parking lot is designed for controlled traffic flow. The location provides convenient access to Route 1, I-295, Princeton, Trenton, and Hamilton, NJ Transit rail lines, and regional airports. Transportation access includes Trenton River LINE (9 min drive), Hamilton Avenue River LINE (10 min drive), Cass Street River LINE (12 min drive), Bordentown River LINE (17 min drive), Hamilton (NJ Transit Northeast Corridor Line) (7 min drive), Trenton Transit Center (River LINE NJ Transit) (9–10 min drive), Princeton (NJ Transit) (10 min drive), Princeton Junction (NJ Transit) (10 min drive), and Trenton-Mercer Airport (11 min drive).
Key Highlights
- Standalone 2,450 sq ft professional building with private parking.
- Fully renovated with flexible layout ready for customization.**
- No CAM fees, landlord approvals, or annual rent increases; full control over brand and space.
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
$28,277
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
3.18%
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%
$565,540
$565.5K
Cap Rate 7%
$403,957
$404.0K
Cap Rate 9%
$314,189
$314.2K
Market Conditions
NOI Build-Up for 3,152 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
$42.4K $13.44/SF
− Vacancy
−$4.7K −$1.48/SF
EGI
$37.7K $11.96/SF
− OpEx
−$9.4K −$2.99/SF
NOI
$28.3K $8.97/SF
Area
Mercer 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%
$565,540
Cap Rate 7%
$403,957
Cap Rate 9%
$314,189
Alternative Uses
Best Use
Office B
$404.0K
$353.5K – $471.3K
NOI $28,277 @ 7.0% cap · market cap 3.18%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$1.01M
$887.4K – $1.18M
NOI $70,988 @ 7.0% cap · market cap 7.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
998
Businesses Nearby
Explore this area
Business Placement
Demographics for 08648, NJ
31,955
Population
12,217
Households
2.6
Avg Household Size
40
Median Age
60%
College-Educated
92%
High-School Grad
16.7 sq mi
ZIP Area
1,913
Density / Sq Mi
$118,036
Median Household Income
$54,833
Median Earnings
$1,953
Median Rent
$395,400
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 - Renovated 2,450 sq ft building with private parking.
Where is this office building located?
The property is located at 172 Franklin Corner Rd Lawrence Township, NJ.
What is the asking price?
The asking price for this property is $888,000.
What are key features of this property?
This property features: Standalone **2,450 sq ft professional building with private parking.**; Fully renovated with flexible layout ready for customization.**; No CAM fees, landlord approvals, or annual rent increases; full control over brand and space.
