Building Details

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Listing Agency: Keller Williams Realty - Marlton k***@kw.com Show Phone

Listed By: Gloria O Donnon · License #7938998 Show Phone

Source: Exprealty

Added: May 18 Changed: Oct 16 Last Checked: Oct 20 at 10:05PM

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Investment Insights

Based on property information with market context.

This 3,200-square-foot professional office condo is laid out for a single occupant, with the flexibility to be divided into two separate suites. The one-story layout is handicap accessible and offers practical utility for engineering, medical, legal, accounting, counseling, or other general professional uses. The building features a brick exterior and is described as being well maintained, with solar panels adding to the property’s value.

The office condo is located within a well maintained complex, providing a streamlined professional setting for an owner-occupant or a tenant seeking suite flexibility. Buyers can acquire the full suite or split the layout depending on their space needs.

Configured as a functional professional asset with accessible improvements and solar panels, the property is suited to a range of office and medical-adjacent professional applications.

Key Highlights

• 3200 sq. ft. one‑story professional office condo in a well‑maintained complex
• Configured for a single occupant, with capability to divide into two suites
• Handicap accessible one‑story layout

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$44,904

Cap Rate

8.98%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$898,080 $898.1K

Cap Rate 7%

$641,486 $641.5K

Cap Rate 9%

$498,933 $498.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,200 SF

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 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 (±1% cap)

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 (±1% cap)

NOI $56,796 @ 7.0% cap · market cap 11.36%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Office Units

Suggested Use

Top Pick Real Estate Agency Restaurant Dental Office Law Firm Spa & Massage Center Hair Salon

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

212

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

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

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Frequently Asked Questions

What type of property is this?

Office unit - One-story office condo is handicap accessible and configured for one occupant or two suites.

Where is this office unit located?

The property is located at 202-2 Eastwick Dr 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: 3200 sq. ft. one‑story professional office condo in a well‑maintained complex; Configured for a single occupant, with capability to divide into two suites; Handicap accessible one‑story layout