Corner Office
For Sale
$2,500,000
6 E High St, Glassboro, NJ 08028
Corner-positioned office property in Glassboro, well suited for professional service tenants.
Property Size7,580 SF
Price / SF$329.82
Days on Market98
Property Features for 6 E High St
General Information
Standard status
Active
Size
7,580 SF
Total Parking Spaces
20
Zoning
C2
Taxes and HOA fees
Annual Taxes
$25,462
Amenities
Central Air
Forced Air, Natural Gas
Building Details
Building Size
7,580 SF
Year Built
1926
Listing Agency:
Penzone Realty
Listed By:
Nicholas Raio · License #2299650
(856) 924-9444
Source:
Evrealestate
Added: Jun 2
Changed: Aug 24
Last Checked: Sep 7 at 5:26AM
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 Penzone Realty
Investment Insights
Based on property information with market context.
The offering is a for-sale office building located at 6 E High St in Glassboro, New Jersey. The property is positioned at the corner of High St and Main St, providing a straightforward, street-facing presence for office use.
Access is available directly from the surrounding street network. The public directions indicate that the building is located at the corner of High St and Main St for those approaching from Delsea Dr.
This property is best suited for owner-users and small firms looking for an office location within Glassboro. Its corner configuration can support a professional entry and signage visibility from two streets, which may be helpful for businesses seeking an identifiable storefront-style office presence.
Access is available directly from the surrounding street network. The public directions indicate that the building is located at the corner of High St and Main St for those approaching from Delsea Dr.
This property is best suited for owner-users and small firms looking for an office location within Glassboro. Its corner configuration can support a professional entry and signage visibility from two streets, which may be helpful for businesses seeking an identifiable storefront-style office presence.
Key Highlights
- Corner‑positioned office property in Glassboro, located on the corner of High St. and Main St.
- Central air conditioning
- Forced air heating with natural gas
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
$119,538
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
4.78%
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%
$2,390,760
$2.4M
Cap Rate 7%
$1,707,686
$1.7M
Cap Rate 9%
$1,328,200
$1.3M
Market Conditions
NOI Build-Up for 7,580 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
$195.6K $25.80/SF
− Vacancy
−$36.2K −$4.77/SF
EGI
$159.4K $21.03/SF
− OpEx
−$39.8K −$5.26/SF
NOI
$119.5K $15.77/SF
Area
Gloucester County, NJ
Vacancy
18.50%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
25.00%
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%
$2,390,760
Cap Rate 7%
$1,707,686
Cap Rate 9%
$1,328,200
Alternative Uses
Best Use
Office B
$1.71M
$1.49M – $1.99M
NOI $119,538 @ 7.0% cap · market cap 4.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.55M
$2.23M – $2.97M
NOI $178,356 @ 7.0% cap · market cap 7.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
754
Businesses Nearby
Explore this area
Business Placement
Demographics for 08028, NJ
24,818
Population
9,006
Households
2.8
Avg Household Size
28
Median Age
40%
College-Educated
92%
High-School Grad
14.5 sq mi
ZIP Area
1,712
Density / Sq Mi
$81,993
Median Household Income
$33,160
Median Earnings
$1,554
Median Rent
$278,500
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 - Corner-positioned office property in Glassboro, well suited for professional service tenants.
Where is this office building located?
The property is located at 6 E High St Glassboro, NJ.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Corner‑positioned office property in Glassboro, located on the corner of High St. and Main St.; Central air conditioning; Forced air heating with natural gas
