Building Details

Building Size 1,512 SF

Year Built 1950

Listing Agency: BHHS Fox & Roach-Marlton

Listed By: Christopher Benstead · License #8830917 Show Phone

Source: Brucerealty

Added: Jul 31, 2025 Changed: Oct 21 Last Checked: Oct 21 at 6:19AM

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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 BHHS Fox & Roach-Marlton

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This property is currently configured for medical office use and offers a reception area, an office for a doctor, and more than eight exam rooms/office spaces. The interior also includes two restrooms. Updates include a newly installed AC unit, along with recent replacements and other upgrades reported to be in very good condition.

The building sits on a corner lot and includes on-site parking, which supports client and staff access. The seller notes the property is located in a busy area.

For a tenant or buyer seeking flexible office space with a medical-ready layout, the existing room count and reception support a straightforward day-to-day operation.

Key Highlights

• Medical office currently used as a chiropractor’s office
• Over 8 exam rooms/office areas plus a reception area
• Includes Dr’s office and 2 restrooms

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$21,217

Cap Rate

7.89%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$424,340 $424.3K

Cap Rate 7%

$303,100 $303.1K

Cap Rate 9%

$235,744 $235.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,512 SF

Gross rent

$33.2K $21.96/SF

− Vacancy

−$4.9K −$3.25/SF

EGI

$28.3K $18.71/SF

− OpEx

−$7.1K −$4.68/SF

NOI

$21.2K $14.03/SF

Area

Camden County, NJ

Vacancy

14.80%

Lease Rate

$21.96 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$424,340

Cap Rate 7%

$303,100

Cap Rate 9%

$235,744

Alternative Uses

Best Use

Office B

$303.1K

$265.2K – $353.6K (±1% cap)

NOI $21,217 @ 7.0% cap · market cap 7.89%

Second Best

Healthcare Medical

$265.0K

$231.9K – $309.2K (±1% cap)

NOI $18,550 @ 7.0% cap · market cap 6.90%

Theoretical Best

Office A

$383.4K

$335.5K – $447.3K (±1% cap)

NOI $26,836 @ 7.0% cap · market cap 9.98%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Black Horse Pike ... Alternative Medicine Practice

Suggested Use

Top Pick Law Firm Real Estate Agency Parking Lot & Garage (Bike/Boat/Book/etc) Store Dental Office Daycare Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

558

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 08078, NJ

8,074

Population

3,338

Households

2.4

Avg Household Size

39

Median Age

25%

College-Educated

94%

High-School Grad

1.9 sq mi

ZIP Area

4,249

Density / Sq Mi

$97,857

Median Household Income

$47,516

Median Earnings

$1,375

Median Rent

$215,400

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

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Frequently Asked Questions

What type of property is this?

Medical Office Space - Medical office suite with over eight exam rooms, reception area, and on-site parking on a corner lot.

Where is this medical office space located?

The property is located at 515 N BLACK HORSE PIKE Runnemede, NJ.

What is the asking price?

The asking price for this property is $269,000.

What are key features of this property?

This property features: Medical office currently used as a chiropractor’s office; Over 8 exam rooms/office areas plus a reception area; Includes Dr’s office and 2 restrooms