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    Professional Office Suites in Senior Community Title is generated by Realmo AI

    487-489 W STATE Street, Trenton, NJ 08618

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    New
    For Lease
    $1,600 /Mo

    CommercialLease - TRENTON, NJ

    Type:Office
    Lot size:
    2.28 Acres
    Added:
    Jun 3, 2026
    Days on Market:
    1
    Last Refresh:
    Jun 3 at 1:06 pm

    Property Features for 487-489 W STATE Street

    General Information

    Property type
    Other
    Property subtype
    Office
    Parking
    10
    Parking features
    Parking Lot
    Standard status
    Active
    Lot size
    2.28 Acres

    Utilities

    Heating system
    Central
    Cooling system
    Central Air

    Building Details

    Year built
    1974
    Building materials
    Brick

    We can help!

    Listing Contact
    Jeanine Carrillo

    Listing agent Jeanine Carrillo License #2298332

    Listing office Better Homes and Gardens Real Estate Maturo 251 Masonville Road, NJ

    Listing date Jun 3, 2026

    MLS# NJME2078314

    Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Luther Towers offers two available office suites within a senior housing community setting in Trenton.
    • Suite 1: 400 SF lobby‑level office suite available for $700/month.
    • Suite 2: 1,300 SF professional office suite available for $1,600/month with flexible layout options.
    • Building features brick construction, central heating, and central air conditioning.
    • Secure building with on‑site parking lot and convenient access to major highways and public transportation.
    • Landlord is updating ceilings, paint, and flooring, giving tenants the opportunity to customize their space.

    Overview

    Luther Towers presents a distinctive leasing opportunity within a senior housing community, with two professional office suites available for qualified tenants. Suite 1 is located in the lobby and is well suited for resident-facing uses such as pharmacy, medical support, wellness services, or other service-oriented operations. Suite 2 offers a larger, spacious professional office with a flexible layout to support nonprofits, professional services, training, consulting, and administrative work. The landlord is actively updating ceilings, paint, and flooring, giving tenants a more refreshed environment and a better platform for customization.

    The building is described as secure, with ample nearby parking to support client and employee access. The property is positioned for convenient connectivity to major highways and public transportation, which can be valuable for teams that need reliable commute options and visitor access. The suites are offered within the active setting of the senior housing community, creating a built-in context for service delivery.

    These suites are most compelling for medical and wellness providers, pharmacies, home healthcare agencies, nonprofits, and other professional or creative businesses seeking an office environment integrated into a community setting. With ongoing interior improvements and a lobby-adjacent option alongside a more flexible suite, tenants can align their space needs with a configuration that supports both resident-focused and general professional use.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Trenton
    County
    Mercer
    State
    New Jersey
    Longitude
    -74.7799955
    Latitude
    40.2270927

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    FAQs

    What type of property is this?
    Office units - Two office suites inside Luther Towers offer secure access and convenient parking for healthcare and service-oriented tenants.
    Where is this office units located?
    The property is located at 487-489 W STATE Street Trenton, NJ.
    What is the lease rate?
    The lease rate is $1,600 /Mo.
    What are key features of this property?
    This property features: Luther Towers offers two available office suites within a senior housing community setting in Trenton.; Suite 1: 400 SF lobby‑level office suite available for $700/month.; Suite 2: 1,300 SF professional office suite available for $1,600/month with flexible layout options.
    (609) 781-6477
    We can help!
    Listing Contact
    Jeanine Carrillo
    Real Estate License ID: 2298332
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    487-489 W STATE Street, TRENTON, NJ 08618
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