Professional Office Condo
For Sale
$500,000
2 EASTWICK DRIVE Unit 202, Gibbsboro, NJ 08026
One-story, handicap-accessible office condo that can be used as one suite or divided into two.
Property Size3,150 SF
Price / SF$156.25
Days on Market100
Property Features for 2 EASTWICK DRIVE Unit 202
General Information
Standard status
Active
Size
3,150 SF
Property subtype
Office
Amenities
handicap accessible
solar panels
Building Details
Building Size
3,150 SF
Year Built
2004
Stories
1
Construction
brick
Tenancy
Single
Listing Agency:
Keller Williams Realty - Marlton
(856) 266-8500
Listed By:
Gloria O Donnon · License #7938998
(856) 266-8500
Source:
Patmckennarealtors
Added: May 18
Changed: Aug 23
Last Checked: Aug 24 at 2:39PM
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 3,150-square-foot professional office condo is offered in a one-story, handicap-accessible layout. It is configured for a single occupant but can be divided into two suites, supporting flexible office configurations. The exterior is brick and the complex is described as well maintained. Solar panels are included, adding value to the property.
The unit is located within a maintained office condo complex at 2 Eastwick Dr, Unit 202, in Gibbsboro, NJ 08026.
The layout is intended for practical professional use, with suitability noted for engineering, medical, legal, accounting, counseling, or general professional services. The property can be occupied as a whole suite or split to accommodate separate tenants or functions.
The unit is located within a maintained office condo complex at 2 Eastwick Dr, Unit 202, in Gibbsboro, NJ 08026.
The layout is intended for practical professional use, with suitability noted for engineering, medical, legal, accounting, counseling, or general professional services. The property can be occupied as a whole suite or split to accommodate separate tenants or functions.
Key Highlights
- One‑story, handicap‑accessible professional office condo (3,200 SF)
- Configured for a single occupant but capable of division into two suites
- Built in 2004 with brick exterior and a well‑maintained complex
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
$44,904
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
8.98%
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%
$898,080
$898.1K
Cap Rate 7%
$641,486
$641.5K
Cap Rate 9%
$498,933
$498.9K
Market Conditions
NOI Build-Up for 3,200 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
$70.3K $21.96/SF
− Vacancy
−$10.4K −$3.25/SF
EGI
$59.9K $18.71/SF
− OpEx
−$15.0K −$4.68/SF
NOI
$44.9K $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%
$898,080
Cap Rate 7%
$641,486
Cap Rate 9%
$498,933
Alternative Uses
Best Use
Office B
$641.5K
$561.3K – $748.4K
NOI $44,904 @ 7.0% cap · market cap 8.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$811.4K
$710.0K – $946.6K
NOI $56,796 @ 7.0% cap · market cap 11.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
273
Businesses Nearby
Explore this area
Business Placement
Demographics for 08026, NJ
2,189
Population
855
Households
2.6
Avg Household Size
42
Median Age
27%
College-Educated
94%
High-School Grad
2.2 sq mi
ZIP Area
995
Density / Sq Mi
$99,881
Median Household Income
$56,618
Median Earnings
$278,200
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 units - One-story, handicap-accessible office condo that can be used as one suite or divided into two.
Where is this office units located?
The property is located at 2 EASTWICK DRIVE Unit 202 Gibbsboro, NJ.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: One‑story, handicap‑accessible professional office condo (3,200 SF); Configured for a single occupant but capable of division into two suites; Built in 2004 with brick exterior and a well‑maintained complex
