Renovated Medical Office
For Sale
$950,000
4 CHESTER AVENUE, Medford, NJ 08055
Fully updated medical office building with reception area, multiple offices, and a recently updated HVAC system.
Property Size4,092 SF
Lot Size1.67 Acres
Days on Market45
Property Features for 4 CHESTER AVENUE
General Information
Standard status
Active
Size
4,092 SF
Lot size
1.67 Acres
Property subtype
Office
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$14,009
Building Details
Building Size
4,092 SF
Year Built
1964
Listing Agency:
Keller Williams Realty - Marlton
(609) 458-3711
Listed By:
James L Moffa · License #901791
(609) 458-3711
Source:
Patmckennarealtors
Added: Jul 11
Changed: Aug 23
Last Checked: Aug 22 at 12:26PM
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
Investment Insights
Based on property information with market context.
This renovated office building is presented as a full-service medical facility with a reception and waiting area. The current layout includes five to seven offices, along with flexible spaces that can serve private offices, conference or meeting areas, and a break area, designed to support efficient, professional use. The interior has been well maintained with high-quality finishes, and the HVAC system has been recently updated and customized.
The property sits on a 1.67-acre lot and may be used in its current configuration as two separate units, supporting either single-tenant or multi-tenant occupancy. It is located with access to major transportation routes including I-295 and several U.S. routes, as well as nearby regional turnpikes.
Surrounding amenities include Promenade Shopping Center, Moorestown Mall, Cherry Hill Mall, Centerton Square, and the Marketplace at Garden State Park, and the location is described as being near major medical institutions in the Philadelphia area and South Jersey.
The property sits on a 1.67-acre lot and may be used in its current configuration as two separate units, supporting either single-tenant or multi-tenant occupancy. It is located with access to major transportation routes including I-295 and several U.S. routes, as well as nearby regional turnpikes.
Surrounding amenities include Promenade Shopping Center, Moorestown Mall, Cherry Hill Mall, Centerton Square, and the Marketplace at Garden State Park, and the location is described as being near major medical institutions in the Philadelphia area and South Jersey.
Key Highlights
- 1964‑built fully updated medical office building with a reception and waiting area plus multiple private offices
- Flexible interior layout with five to seven offices, conference/meeting areas, and a break area
- Recently updated HVAC system with new finishes
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
$56,870
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
5.99%
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%
$1,137,400
$1.1M
Cap Rate 7%
$812,429
$812.4K
Cap Rate 9%
$631,889
$631.9K
Market Conditions
NOI Build-Up for 4,092 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
$102.1K $24.96/SF
− Vacancy
−$7.4K −$1.80/SF
EGI
$94.8K $23.16/SF
− OpEx
−$37.9K −$9.27/SF
NOI
$56.9K $13.90/SF
Area
Burlington County, NJ
Vacancy
7.20%
Lease Rate
$24.96 /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%
$1,137,400
Cap Rate 7%
$812,429
Cap Rate 9%
$631,889
Alternative Uses
Best Use
Healthcare Medical
$812.4K
$710.9K – $947.8K
NOI $56,870 @ 7.0% cap · market cap 5.99%
Second Best
Office B
$524.4K
$458.9K – $611.8K
NOI $36,710 @ 7.0% cap · market cap 3.86%
Theoretical Best
Warehouse
$8.56M
$7.49M – $9.98M
NOI $599,084 @ 7.0% cap · market cap 63.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
835
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 08055, NJ
28,806
Population
11,103
Households
2.6
Avg Household Size
45
Median Age
63%
College-Educated
98%
High-School Grad
40.0 sq mi
ZIP Area
720
Density / Sq Mi
$158,487
Median Household Income
$77,304
Median Earnings
$1,502
Median Rent
$456,000
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Fully updated medical office building with reception area, multiple offices, and a recently updated HVAC system.
Where is this medical office space located?
The property is located at 4 CHESTER AVENUE Medford, NJ.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 1964‑built fully updated medical office building with a reception and waiting area plus multiple private offices; Flexible interior layout with five to seven offices, conference/meeting areas, and a break area; Recently updated HVAC system with new finishes
