Single-Story Office
For Sale
Contact for pricing
2137 Hamilton Ave, Trenton, NJ 08619
Single-story office building with 15’ ceilings and 90 parking spaces on 1.34 acres.
Property Size12,000 SF
Lot Size1.34 Acres
Price / SF$125
Days on Market538
Property Features for 2137 Hamilton Ave
General Information
Standard status
Active
Size
12,000 SF
Total Parking Spaces
90
Lot size
1.34 Acres
Property subtype
OFFICE
Zoning
CC
Additional Details
Highway Access
Yes
Clear Height
15 ft
Building Details
Year Built
1960
Stories
1
Listing Agency:
Fennelly Associates
(609) 520-0061
Listed By:
Gerard J. Fennelly
(609) 306-3158
Source:
Moodyscre
Added: Mar 25, 2025
Changed: Sep 11
Last Checked: Sep 13 at 11:07AM
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 Fennelly Associates
Investment Insights
Based on property information with market context.
This single-story office building offers approximately 12,000 square feet and was built in 1960. The property features 15’ ceiling height and includes parking for 90 vehicles.
The site is on 1.34 acres and is described as being minutes from Downtown Trenton, with access to the NJ Turnpike and I-195.
Zoning is listed as CC, with details referenced as available on the next page. Taxes for 2024 are reported as $37,857.90.
The site is on 1.34 acres and is described as being minutes from Downtown Trenton, with access to the NJ Turnpike and I-195.
Zoning is listed as CC, with details referenced as available on the next page. Taxes for 2024 are reported as $37,857.90.
Key Highlights
- 12,000 SF single‑story office building on 1.34 acres
- Built in 1960 with 15’ ceilings
- Zoning: CC (details on next page)
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
$107,654
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
7.18%
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%
$2,153,080
$2.2M
Cap Rate 7%
$1,537,914
$1.5M
Cap Rate 9%
$1,196,156
$1.2M
Market Conditions
NOI Build-Up for 12,000 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
$161.3K $13.44/SF
− Vacancy
−$17.7K −$1.48/SF
EGI
$143.5K $11.96/SF
− OpEx
−$35.9K −$2.99/SF
NOI
$107.7K $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%
$2,153,080
Cap Rate 7%
$1,537,914
Cap Rate 9%
$1,196,156
Alternative Uses
Best Use
Office B
$1.54M
$1.35M – $1.79M
NOI $107,654 @ 7.0% cap · market cap 7.18%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$3.86M
$3.38M – $4.50M
NOI $270,259 @ 7.0% cap · market cap 18.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
15 ft
Clear height
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
371
Businesses Nearby
Explore this area
Business Placement
Demographics for 08619, NJ
23,301
Population
9,761
Households
2.4
Avg Household Size
44
Median Age
46%
College-Educated
96%
High-School Grad
10.0 sq mi
ZIP Area
2,330
Density / Sq Mi
$104,922
Median Household Income
$56,772
Median Earnings
$1,712
Median Rent
$320,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Office building - Single-story office building with 15’ ceilings and 90 parking spaces on 1.34 acres.
Where is this office building located?
The property is located at 2137 Hamilton Ave Trenton, NJ.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 12,000 SF single‑story office building on 1.34 acres; Built in 1960 with 15’ ceilings; Zoning: CC (details on next page)
