Two-Unit Office
For Sale
$650,000
5-150 Himmelien Rd, Medford, NJ 08055
Two professionally managed office condo units totaling 3,640 SF with first- and second-floor space plus a basement level.
Property Size3,640 SF
Price / SF$178.57
Days on Market119
Property Features for 5-150 Himmelien Rd
General Information
Standard status
Active
Size
3,640 SF
Additional Details
Highway Access
Yes
Office Units
2
Taxes and HOA fees
Annual Taxes
$8,826
Amenities
common area maintenance
snow removal
landscaping
trash services
Listing Agency:
Keller Williams Realty - Marlton
(856) 441-6800
Listed By:
James L Moffa · License #0901791
(609) 458-3711
Source:
Exprealty
Added: May 10
Changed: Aug 31
Last Checked: Sep 4 at 7:52AM
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 professionally maintained office condominium consists of two separate condo units: a 2,240 SF first-floor unit and a 1,400 SF second-floor unit, along with an additional basement level. The property offers a layout designed for professional use, with configuration flexibility that can support single-tenant or multi-tenant occupancy, or be used as two separate units. The interior has been thoughtfully updated in recent years and is presented in turnkey condition.
The building is part of a professionally managed association with a monthly fee of $700 covering common area maintenance, snow removal, landscaping, and trash services. Public sewer service is available, and the property is served by a private well. The location provides strong accessibility and proximity to major transportation routes, including I-295 and multiple U.S. routes, as well as the New Jersey and Pennsylvania Turnpikes and the Atlantic City Expressway.
For buyers seeking a professionally finished office asset in an “AS IS” offering, this building provides substantial space across two levels plus a basement, with the association approach supporting ongoing exterior and common area responsibilities.
The building is part of a professionally managed association with a monthly fee of $700 covering common area maintenance, snow removal, landscaping, and trash services. Public sewer service is available, and the property is served by a private well. The location provides strong accessibility and proximity to major transportation routes, including I-295 and multiple U.S. routes, as well as the New Jersey and Pennsylvania Turnpikes and the Atlantic City Expressway.
For buyers seeking a professionally finished office asset in an “AS IS” offering, this building provides substantial space across two levels plus a basement, with the association approach supporting ongoing exterior and common area responsibilities.
Key Highlights
- 3,640 SF professional office condominium with two condo units: 2,240 SF first‑floor and 1,400 SF second‑floor, plus basement level
- Professionally managed association with $700/month fee covering common area maintenance, snow removal, landscaping, and trash services
- Building includes updated, professionally finished interior space suitable for professional uses, including medical, legal, financial, accounting, and general office
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
$50,588
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
7.78%
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%
$1,011,760
$1.0M
Cap Rate 7%
$722,686
$722.7K
Cap Rate 9%
$562,089
$562.1K
Market Conditions
NOI Build-Up for 3,640 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
$90.9K $24.96/SF
− Vacancy
−$6.5K −$1.80/SF
EGI
$84.3K $23.16/SF
− OpEx
−$33.7K −$9.27/SF
NOI
$50.6K $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%
$1,011,760
Cap Rate 7%
$722,686
Cap Rate 9%
$562,089
Alternative Uses
Best Use
Healthcare Medical
$722.7K
$632.4K – $843.1K
NOI $50,588 @ 7.0% cap · market cap 7.78%
Second Best
Office B
$466.5K
$408.2K – $544.3K
NOI $32,655 @ 7.0% cap · market cap 5.02%
Theoretical Best
Warehouse
$7.61M
$6.66M – $8.88M
NOI $532,909 @ 7.0% cap · market cap 81.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
138
Businesses Nearby
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Two professionally managed office condo units totaling 3,640 SF with first- and second-floor space plus a basement level.
Where is this office units located?
The property is located at 5-150 Himmelien Rd Medford, NJ.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 3,640 SF professional office condominium with two condo units: 2,240 SF first‑floor and 1,400 SF second‑floor, plus basement level; Professionally managed association with $700/month fee covering common area maintenance, snow removal, landscaping, and trash services; Building includes updated, professionally finished interior space suitable for professional uses, including medical, legal, financial, accounting, and general office
