Single-Tenant Medical
275 PHILLIPS BLVD, Trenton, NJ 08618
For Sale
Contact for pricing
Capital Health occupies the property under a new NNN lease with annual escalations.
Property Size71,000 SF
Price / SF$325.35
Days on Market28
Property Features for 275 PHILLIPS BLVD
General Information
Standard status
Size
Net Rentable
Property subtype
Financials
Asking Price
Cap Rate
Additional Details
Tenant in Place
Property Use
Building Details
Tenancy
Listing Agency:
Marcus & Millichap - Manhattan
Listed By:
Steven Siegel · License #NY 30SI0857139
Source:
Crexi
Added: Oct 13
Changed: Nov 8
Last Checked: Nov 8 at 4:22PM
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 Marcus & Millichap - Manhattan
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Investment Insights
Based on property information with market context.
This approximately 71,000-square-foot medical office property is leased to Capital Health as a single-tenant asset. The new lease has a 15-year term, uses an NNN structure, and includes annual escalations. The property also offers ample parking and a campus-style setting.
The offering has a stated 6.15% cap rate.
The offering has a stated 6.15% cap rate.
Key Highlights
- Approximately 71,000 rentable square feet
- New 15‑year NNN lease to Capital Health with annual escalations
- Single‑tenant medical office property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$985,921
Cap Rate
4.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$19,718,420
$19.7M
Cap Rate 7%
$14,084,586
$14.1M
Cap Rate 9%
$10,954,678
$11.0M
Market Conditions
NOI Build-Up for 71,000 SF
Gross rent
$2.10M $29.52/SF
− Vacancy
−$452.7K −$6.38/SF
EGI
$1.64M $23.14/SF
− OpEx
−$657.3K −$9.26/SF
NOI
$985.9K $13.89/SF
Area
Mercer County, NJ
Vacancy
21.60%
Lease Rate
$29.52 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$19,718,420
Cap Rate 7%
$14,084,586
Cap Rate 9%
$10,954,678
Alternative Uses
Best Use
Healthcare Medical
$14.08M
$12.32M – $16.43M
NOI $985,921 @ 7.0% cap · market cap 4.27%
Second Best
Office B
$9.10M
$7.96M – $10.62M
NOI $636,955 @ 7.0% cap · market cap 2.76%
Theoretical Best
Warehouse
$22.84M
$19.99M – $26.65M
NOI $1,599,034 @ 7.0% cap · market cap 6.92%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
262
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 08618, NJ
37,544
Population
15,284
Households
2.5
Avg Household Size
34
Median Age
24%
College-Educated
86%
High-School Grad
5.9 sq mi
ZIP Area
6,363
Density / Sq Mi
$48,179
Median Household Income
$33,040
Median Earnings
$1,117
Median Rent
$211,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Medical Office Space in Mercer County, NJ
Properties on Market for Medical Office Space in Mercer County
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Medical Office Space - Capital Health occupies the property under a new NNN lease with annual escalations.
Where is this medical office space located?
The property is located at 275 PHILLIPS BLVD Trenton, NJ.
What is the asking price?
The asking price for this property is $23,100,000.
What are key features of this property?
This property features: Approximately 71,000 rentable square feet; New 15‑year NNN lease to Capital Health with annual escalations; Single‑tenant medical office property
