Renovated Highway Commercial Office
For Sale
$249,900
58 White Horse Pike, Waterford Works, NJ 08089
HC-zoned office property with flexible work areas, a full basement, rear parking, and an additional commercial lot.
Property Size1,800 SF
Lot Size0.86 Acres
Price / SF$138.83
Days on Market636
Property Features for 58 White Horse Pike
General Information
Standard status
Active
Size
1,800 SF
Total Parking Spaces
7
Lot size
0.86 Acres
Property subtype
Commercial
Zoning
HC
Site & Location
Frontage
50 ft
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Additional Details
Office Units
1
Taxes and HOA fees
Annual Taxes
$8,208
Amenities
Electric
Yes
Natural Gas
1
N
Level
Private
50.00 x 150.00
0.17
No
Assessor
Parking Lot
6
1800.00
37500.00
50
7
Building Details
Year Built
1954
Year Renovated
2015
Buildings
1
Stories
1
Abandoned
No
Listing Agency:
Crown Realty International Ltd
(856) 222-0077
Listed By:
Ryan LeBon
Source:
Thetristaterealestategroup
Added: Nov 13, 2024
Changed: Aug 11
Last Checked: Aug 11 at 4:54AM
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 Crown Realty International Ltd
Investment Insights
Based on property information with market context.
This HC-zoned office building provides 1,800 square feet of above-grade space arranged with a reception area, private offices, conference room, kitchen area, and bathroom. The property also includes a full 1,800-square-foot basement for storage. Ceiling heights exceed 10 feet, and an ADA-compliant entry ramp supports accessible access. Renovations completed in 2007 included work to the HVAC, electrical system, roof and trusses, windows, natural gas furnace, and well water system; the HVAC was upgraded again in 2015. The building has 200-amp electrical service and public waste disposal.
The property has 50 feet of frontage along White Horse Pike, with a 50-by-150-foot main lot and rear parking for six to seven vehicles. The sale also includes a separate HC-zoned lot on Zimmerman Ave measuring 200 by 150 feet, providing additional land alongside the office building.
The property has 50 feet of frontage along White Horse Pike, with a 50-by-150-foot main lot and rear parking for six to seven vehicles. The sale also includes a separate HC-zoned lot on Zimmerman Ave measuring 200 by 150 feet, providing additional land alongside the office building.
Key Highlights
- 1,800 square feet of above‑grade office space plus a full 1,800‑square‑foot basement
- HC zoning applies to the office property and the additional Zimmerman Ave lot
- Office layout includes reception, private offices, conference room, kitchen area, and bathroom
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
$17,331
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
6.94%
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%
$346,620
$346.6K
Cap Rate 7%
$247,586
$247.6K
Cap Rate 9%
$192,567
$192.6K
Market Conditions
NOI Build-Up for 1,800 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
$27.0K $15.00/SF
− Vacancy
−$2.2K −$1.25/SF
EGI
$24.8K $13.76/SF
− OpEx
−$7.4K −$4.13/SF
NOI
$17.3K $9.63/SF
Area
Camden County, NJ
Vacancy
8.30%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$346,620
Cap Rate 7%
$247,586
Cap Rate 9%
$192,567
Alternative Uses
Best Use
Office B
$360.8K
$315.7K – $421.0K
NOI $25,258 @ 7.0% cap · market cap 10.11%
Second Best
Retail
$247.6K
$216.6K – $288.9K
NOI $17,331 @ 7.0% cap · market cap 6.94%
Theoretical Best
Office A
$456.4K
$399.4K – $532.5K
NOI $31,948 @ 7.0% cap · market cap 12.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
37
Businesses Nearby
Explore this area
Business Placement
Demographics for 08089, NJ
3,774
Population
1,515
Households
2.5
Avg Household Size
46
Median Age
18%
College-Educated
91%
High-School Grad
16.1 sq mi
ZIP Area
234
Density / Sq Mi
$120,417
Median Household Income
$47,976
Median Earnings
$888
Median Rent
$248,900
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 building - HC-zoned office property with flexible work areas, a full basement, rear parking, and an additional commercial lot.
Where is this office building located?
The property is located at 58 White Horse Pike Waterford Works, NJ.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: 1,800 square feet of above‑grade office space plus a full 1,800‑square‑foot basement; HC zoning applies to the office property and the additional Zimmerman Ave lot; Office layout includes reception, private offices, conference room, kitchen area, and bathroom
