Cherry Hill Office Building For
For Sale
$550,000
2306 Church Road, Cherry Hill, NJ 08002
2,200 SF office building in Cherry Hill Shopping District.
Property Size2,200 SF
Price / SF$250
Days on Market268
Property Features for 2306 Church Road
General Information
Standard status
Active
Size
2,200 SF
Property subtype
Office
Building Details
Building Size
2,200 SF
Listing Agency:
NAI Mertz - Corporate
(610) 937-0616
Listed By:
Jeffrey Sloan
(610) 937-0616
Source:
Naiglobal
Added: Nov 21, 2025
Changed: Aug 12
Last Checked: Aug 16 at 5:12AM
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 NAI Mertz - Corporate
Investment Insights
Based on property information with market context.
This 2,200 SF office building is available for sale. The interior has been upgraded. The property is situated on 0.9 acres of usable ground. It is zoned B2 Commercial, which allows for a variety of business uses. The building is located in the Cherry Hill Shopping District, a quarter mile from Route 38, the Cherry Hill Mall, and the Haddonfield Rd retail corridor. The location is just off Route 38, 2 miles to Route 70, and within 4 miles of Route 30 and Route 130. The property is also 7 miles to the Ben Franklin Bridge into Philadelphia.
Key Highlights
- Excellent location in the Cherry Hill Shopping District, close to major routes.
- Zoned B2 Commercial, allowing for a variety of business uses.
- Upgraded new interior throughout.
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
$33,660
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
6.12%
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%
$673,200
$673.2K
Cap Rate 7%
$480,857
$480.9K
Cap Rate 9%
$374,000
$374.0K
Market Conditions
NOI Build-Up for 2,200 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
$66.0K $30.00/SF
− Vacancy
−$21.1K −$9.60/SF
EGI
$44.9K $20.40/SF
− OpEx
−$11.2K −$5.10/SF
NOI
$33.7K $15.30/SF
Area
Bergen County, NJ
Vacancy
32.00%
Lease Rate
$30.00 /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%
$673,200
Cap Rate 7%
$480,857
Cap Rate 9%
$374,000
Alternative Uses
Best Use
Office B
$480.9K
$420.8K – $561.0K
NOI $33,660 @ 7.0% cap · market cap 6.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$574.5K
$502.7K – $670.2K
NOI $40,212 @ 7.0% cap · market cap 7.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
502
Businesses Nearby
Explore this area
Business Placement
Demographics for 08002, NJ
23,920
Population
9,967
Households
2.4
Avg Household Size
41
Median Age
46%
College-Educated
92%
High-School Grad
7.2 sq mi
ZIP Area
3,322
Density / Sq Mi
$105,523
Median Household Income
$56,963
Median Earnings
$1,895
Median Rent
$301,200
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 building - 2,200 SF office building in Cherry Hill Shopping District.
Where is this office building located?
The property is located at 2306 Church Road Cherry Hill, NJ.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Excellent location in the Cherry Hill Shopping District, close to major routes.; Zoned B2 Commercial, allowing for a variety of business uses.; Upgraded new interior throughout.
