Professional Office Condo with
For Sale
$500,000
202-2 Eastwick Dr, Gibbsboro, NJ 08026
One-story office condo is handicap accessible and configured for one occupant or two suites.
Property Size3,200 SF
Price / SF$156.25
Days on Market112
Property Features for 202-2 Eastwick Dr
General Information
Standard status
Active
Size
3,200 SF
Building Details
Stories
1
Listing Agency:
Keller Williams Realty - Marlton
(856) 441-6800
Listed By:
Gloria O Donnon · License #7938998
(856) 266-8500
Source:
Exprealty
Added: May 18
Changed: Aug 20
Last Checked: Sep 6 at 10:59AM
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 3,200-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.
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 = 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
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - One-story office condo is handicap accessible and configured for one occupant or two suites.
Where is this office units 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
