Office Suite with Parking
For Sale
Contact for pricing
231 Clarksville Rd, West Windsor Township, NJ 08550
Office suite with direct parking lot entry, operable windows, and ROM4 zoning within a multi-suite building.
Property Size27,773 SF
Price / SF$156.65
Days on Market514
Property Features for 231 Clarksville Rd
General Information
Standard status
Active
Size
27,773 SF
Total Parking Spaces
110
Property subtype
OFFICE
Zoning
ROM4
Additional Details
Highway Access
Yes
Amenities
Operable Windows
Separate Mechanical Systems
Walking distance to restaurants
Building Details
Building Size
27,773 SF
Listing Agency:
Fennelly Associates
(609) 306-3158
Listed By:
Gerard J. Fennelly
(609) 306-3158
Source:
Moodyscre
Added: Mar 27, 2025
Changed: Jul 29
Last Checked: Aug 21 at 2:06PM
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 office suite offers direct access to and from the parking lot through a dedicated suite entrance. The building complex totals 27,773 SF and includes operable windows. The space is supported by separate mechanical systems, providing independent comfort and control.
The property is zoned ROM4 and includes 110 parking spaces. It is located in the heart of Princeton Junction in Mercer County, within walking distance to restaurants. The site is also positioned for convenient regional access, with proximity to Routes 1 and 130 and roughly 15 minutes to Princeton.
For office tenants seeking a suite with parking-lot convenience and independent mechanical systems, this configuration within a larger office building may be well suited.
The property is zoned ROM4 and includes 110 parking spaces. It is located in the heart of Princeton Junction in Mercer County, within walking distance to restaurants. The site is also positioned for convenient regional access, with proximity to Routes 1 and 130 and roughly 15 minutes to Princeton.
For office tenants seeking a suite with parking-lot convenience and independent mechanical systems, this configuration within a larger office building may be well suited.
Key Highlights
- Suite entrance provides direct access to and from the parking lot
- Building complex totals 27,773 SF
- Operable windows plus separate mechanical systems
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
$249,121
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
5.73%
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%
$4,982,420
$5.0M
Cap Rate 7%
$3,558,871
$3.6M
Cap Rate 9%
$2,768,011
$2.8M
Market Conditions
NOI Build-Up for 27,769 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
$373.2K $13.44/SF
− Vacancy
−$41.1K −$1.48/SF
EGI
$332.2K $11.96/SF
− OpEx
−$83.0K −$2.99/SF
NOI
$249.1K $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%
$4,982,420
Cap Rate 7%
$3,558,871
Cap Rate 9%
$2,768,011
Alternative Uses
Best Use
Office B
$3.56M
$3.11M – $4.15M
NOI $249,121 @ 7.0% cap · market cap 5.73%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$8.93M
$7.82M – $10.42M
NOI $625,402 @ 7.0% cap · market cap 14.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
323
Businesses Nearby
Explore this area
Business Placement
Demographics for 08550, NJ
21,034
Population
7,839
Households
2.7
Avg Household Size
43
Median Age
84%
College-Educated
99%
High-School Grad
19.1 sq mi
ZIP Area
1,101
Density / Sq Mi
$206,658
Median Household Income
$121,740
Median Earnings
$2,694
Median Rent
$758,900
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 - Office suite with direct parking lot entry, operable windows, and ROM4 zoning within a multi-suite building.
Where is this office units located?
The property is located at 231 Clarksville Rd West Windsor Township, NJ.
What is the asking price?
The asking price for this property is $4,350,000.
What are key features of this property?
This property features: Suite entrance provides direct access to and from the parking lot; Building complex totals 27,773 SF; Operable windows plus separate mechanical systems
