Route 38 Professional Office
For Sale
$1,200,000
3201 Route 38, Mount Laurel, NJ 08054
Eight-suite office building on Route 38 with high visibility.
Property Size8,000 SF
Price / SF$150
Days on Market210
Property Features for 3201 Route 38
General Information
Standard status
Active
Size
8,000 SF
Building Details
Year Built
1987
Listing Agency:
Keller Williams Realty - Marlton
Listed By:
James L Moffa, JANE BALMER-CRAFTS · License #901791
(609) 458-3711
Source:
Southjerseyshorehomesfinder
Added: Mar 26
Changed: Oct 7
Last Checked: Oct 7 at 1:08PM
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 Keller Williams Realty - Marlton
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Investment Insights
Based on property information with market context.
This is an eight-suite professional office building located on Route 38 in Mt. Laurel, strategically positioned next to the Larchmont Shopping Center. The property benefits from busy highway exposure, high visibility, and easy access. Five of the eight office suites are currently leased. Each unit includes one restroom, and the building features a full basement with individual storage space and sump pumps for each suite. The overall condition of the building is above average, and all aspects of the complex meet or exceed code. Each unit is independently metered, with tenants responsible for their own electric, cable, and a percentage of water and sewer costs. The property offers excellent visibility for signage. Its location provides convenient access to surrounding amenities such as the Centerton Square Shopping Center, Promenade Shopping Center, Cherry Hill & Moorestown Malls, various restaurants, and high-end shops. The property is also located near Routes 70, 73, 38, and 206, as well as Interstate 295, the New Jersey Turnpike, and the Atlantic City Expressway. The property is suitable for owner-occupancy or investment.
Key Highlights
- High‑visibility location on Route 38 with easy access and proximity to Larchmont Shopping Center.
- 8‑suite professional office building with 5 suites currently leased, offering immediate income potential.
- Each suite has a private restroom, basement storage, and independent sump pump.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$71,770
Cap Rate
5.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,435,400
$1.4M
Cap Rate 7%
$1,025,286
$1.0M
Cap Rate 9%
$797,444
$797.4K
Market Conditions
NOI Build-Up for 8,000 SF
Gross rent
$107.5K $13.44/SF
− Vacancy
−$11.8K −$1.48/SF
EGI
$95.7K $11.96/SF
− OpEx
−$23.9K −$2.99/SF
NOI
$71.8K $8.97/SF
Area
Burlington 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 Rate 5%
$1,435,400
Cap Rate 7%
$1,025,286
Cap Rate 9%
$797,444
Alternative Uses
Best Use
Office B
$1.03M
$897.1K – $1.20M
NOI $71,770 @ 7.0% cap · market cap 5.98%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$16.73M
$14.64M – $19.52M
NOI $1,171,229 @ 7.0% cap · market cap 97.60%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
600
Businesses Nearby
Explore this area
Business Placement
Demographics for 08054, NJ
44,633
Population
19,966
Households
2.2
Avg Household Size
44
Median Age
56%
College-Educated
96%
High-School Grad
21.7 sq mi
ZIP Area
2,057
Density / Sq Mi
$114,629
Median Household Income
$67,986
Median Earnings
$1,966
Median Rent
$341,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office building - Eight-suite office building on Route 38 with high visibility.
Where is this office building located?
The property is located at 3201 Route 38 Mount Laurel, NJ.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: High‑visibility location on Route 38 with easy access and proximity to Larchmont Shopping Center.; 8‑suite professional office building with 5 suites currently leased, offering immediate income potential.; Each suite has a private restroom, basement storage, and independent sump pump.
