Renovated Medical Office
For Sale
$1,899,000
3-1-3 Mapleton Rd, Princeton, NJ 08540
Completely renovated professional/medical building with vaulted ceilings, multiple entrances, and abundant on-site parking.
Property Size5,385 SF
Price / SF$352.65
Days on Market198
Property Features for 3-1-3 Mapleton Rd
General Information
Standard status
Active
Size
5,385 SF
Taxes and HOA fees
Annual Taxes
$23,104
Listing Agency:
DAVIS REALTORS
(732) 254-6700
Listed By:
BRIAN T. WALSH
Source:
Exprealty
Added: Feb 19
Changed: Aug 20
Last Checked: Sep 4 at 8:08AM
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 DAVIS REALTORS
Investment Insights
Based on property information with market context.
3 Mapleton Rd is a freestanding, completely renovated professional/medical office building offering three levels of flexible space with loft-style vaulted ceilings, original wood beams and wood floors, private fireplaces, and windows throughout. The building includes multiple entrances, including two separate first-floor entrances and an additional sloped entrance to the second floor; each floor is described as ADA compliant. First-floor space totals 2,210 SF with two private entrances, two bathrooms, a kitchenette, reception area, four private offices, and a conference room. Second-floor space totals 2,984 SF with a side ADA entrance, a large vaulted open area, a spacious conference room, an owners office, a private bathroom, a kitchenette, and four additional offices. A third-floor level includes a private glassed office/conference room overlooking the open area.
The property is located just off Route 1 and sits directly across from Penn Medicine Princeton Medical Center. It is described as minutes from downtown Princeton and surrounded by Princeton University Campus. It features a metal roof described for longevity and includes a solar system to reduce utility costs, and it is offered in a PMUD zone (Planned Unit Development.). The site has abundant on-site parking, accommodating 60+ cars.
The building is listed for sale with separate meters and utilities for each floor, which is described as suitable for one owner-occupier or two separate users.
The property is located just off Route 1 and sits directly across from Penn Medicine Princeton Medical Center. It is described as minutes from downtown Princeton and surrounded by Princeton University Campus. It features a metal roof described for longevity and includes a solar system to reduce utility costs, and it is offered in a PMUD zone (Planned Unit Development.). The site has abundant on-site parking, accommodating 60+ cars.
The building is listed for sale with separate meters and utilities for each floor, which is described as suitable for one owner-occupier or two separate users.
Key Highlights
- 5,385 SF freestanding professional/medical building on a 4‑acre lot
- Completely renovated and move‑in ready with vaulted loft ceilings, original wood beams, and wood floors
- Two separate first‑floor entrances plus a sloped second‑floor entrance; each floor is ADA compliant
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
$74,777
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
3.94%
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%
$1,495,540
$1.5M
Cap Rate 7%
$1,068,243
$1.1M
Cap Rate 9%
$830,856
$830.9K
Market Conditions
NOI Build-Up for 5,385 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
$159.0K $29.52/SF
− Vacancy
−$34.3K −$6.38/SF
EGI
$124.6K $23.14/SF
− OpEx
−$49.9K −$9.26/SF
NOI
$74.8K $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 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%
$1,495,540
Cap Rate 7%
$1,068,243
Cap Rate 9%
$830,856
Alternative Uses
Best Use
Healthcare Medical
$1.07M
$934.7K – $1.25M
NOI $74,777 @ 7.0% cap · market cap 3.94%
Second Best
Office B
$690.1K
$603.9K – $805.2K
NOI $48,310 @ 7.0% cap · market cap 2.54%
Theoretical Best
Warehouse
$1.73M
$1.52M – $2.02M
NOI $121,279 @ 7.0% cap · market cap 6.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
405
Businesses Nearby
Explore this area
Business Placement
Demographics for 08540, NJ
48,216
Population
19,255
Households
2.5
Avg Household Size
41
Median Age
82%
College-Educated
98%
High-School Grad
51.7 sq mi
ZIP Area
933
Density / Sq Mi
$169,898
Median Household Income
$80,357
Median Earnings
$2,083
Median Rent
$723,400
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 - Completely renovated professional/medical building with vaulted ceilings, multiple entrances, and abundant on-site parking.
Where is this office building located?
The property is located at 3-1-3 Mapleton Rd Princeton, NJ.
What is the asking price?
The asking price for this property is $1,899,000.
What are key features of this property?
This property features: 5,385 SF freestanding professional/medical building on a 4‑acre lot; Completely renovated and move‑in ready with vaulted loft ceilings, original wood beams, and wood floors; Two separate first‑floor entrances plus a sloped second‑floor entrance; each floor is ADA compliant
