Fully Leased Medical Office
For Sale
Contact for pricing
392 N White Horse Pike, Hammonton, NJ 08037
Medical office building for sale, fully leased with anchor tenant.
Property Size12,422 SF
Price / SF$289.81
Days on Market165
Property Features for 392 N White Horse Pike
General Information
Standard status
Active
Size
12,422 SF
Property subtype
Office
Zoning
B-2
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$278,310
Building Details
Year Built
1960
Year Renovated
2008
Buildings
1
Stories
1
Listing Agency:
JLL - Cherry Hill, New Jersey
(856) 324-5300
Listed By:
Dan Close · License #NJ
Source:
Crexi
Added: Mar 10
Changed: Aug 14
Last Checked: Aug 21 at 10:02AM
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 JLL - Cherry Hill, New Jersey
Investment Insights
Based on property information with market context.
This is a fully leased medical office building available for sale. The property is anchored by Fresenius. The building has a property size of 12422 square feet and is suitable for commercial real estate purposes.
Key Highlights
- Fully Leased Medical Office Building
- Fresenius as Anchor Tenant
- Medical Office Building For Sale
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
$181,996
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
5.06%
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%
$3,639,920
$3.6M
Cap Rate 7%
$2,599,943
$2.6M
Cap Rate 9%
$2,022,178
$2.0M
Market Conditions
NOI Build-Up for 12,422 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
$332.4K $26.76/SF
− Vacancy
−$89.8K −$7.23/SF
EGI
$242.7K $19.53/SF
− OpEx
−$60.7K −$4.88/SF
NOI
$182.0K $14.65/SF
Area
Atlantic County, NJ
Vacancy
27.00%
Lease Rate
$26.76 /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%
$3,639,920
Cap Rate 7%
$2,599,943
Cap Rate 9%
$2,022,178
Alternative Uses
Best Use
Office B
$2.60M
$2.27M – $3.03M
NOI $181,996 @ 7.0% cap · market cap 5.06%
Second Best
Healthcare Medical
$2.52M
$2.20M – $2.94M
NOI $176,104 @ 7.0% cap · market cap 4.89%
Theoretical Best
Warehouse
$4.63M
$4.05M – $5.40M
NOI $323,811 @ 7.0% cap · market cap 8.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
247
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 08037, NJ
23,814
Population
9,682
Households
2.5
Avg Household Size
44
Median Age
29%
College-Educated
90%
High-School Grad
122.5 sq mi
ZIP Area
194
Density / Sq Mi
$83,762
Median Household Income
$40,668
Median Earnings
$1,297
Median Rent
$307,700
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office building for sale, fully leased with anchor tenant.
Where is this medical office space located?
The property is located at 392 N White Horse Pike Hammonton, NJ.
What is the asking price?
The asking price for this property is $3,600,000.
What are key features of this property?
This property features: Fully Leased Medical Office Building; Fresenius as Anchor Tenant; Medical Office Building For Sale
