Turnkey Medical Office
For Sale
$259,000
81 SOMERSET DRIVE, Willingboro, NJ 08046
Office building with a reception area, waiting room, four examining rooms, and two bathrooms.
Property Size1,725 SF
Price / SF$150.14
Days on Market205
Property Features for 81 SOMERSET DRIVE
General Information
Standard status
Active
Size
1,725 SF
Property subtype
Office
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$7,048
Amenities
Central Air
3
Parking.
On Street, Driveway.
65.00 x 100.00
Building Details
Year Built
1958
Listing Agency:
Coldwell Banker Realty
(856) 685-5600
Listed By:
Mark Del Roccili
(856) 816-1302
Source:
Xome
Added: Feb 12
Changed: Sep 1
Last Checked: Sep 5 at 4:37AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
81 Somerset Drive is a turnkey office building configured with a waiting room and reception area, along with four examining rooms, an exercise room, and two bathrooms. The space is currently set up for office use, with part of the building described as available to rent separately for additional office or related medical uses.
The property is positioned near Virtua Willingboro Hospital and offers access to major transit arteries, supporting convenient visibility and day-to-day patient or client travel.
Originally a 3-bedroom ranch home, the building could be converted back from its existing office configuration, depending on how an end user or buyer plans to repurpose the layout.
The property is positioned near Virtua Willingboro Hospital and offers access to major transit arteries, supporting convenient visibility and day-to-day patient or client travel.
Originally a 3-bedroom ranch home, the building could be converted back from its existing office configuration, depending on how an end user or buyer plans to repurpose the layout.
Key Highlights
- Office building with reception area and waiting room, plus four examining rooms and 2 bathrooms
- Central air cooling; heating listed as “3”
- Previously a 3 BR ranch home and could be converted back from the existing office layout
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
$15,475
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
5.97%
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%
$309,500
$309.5K
Cap Rate 7%
$221,071
$221.1K
Cap Rate 9%
$171,944
$171.9K
Market Conditions
NOI Build-Up for 1,725 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
$23.2K $13.44/SF
− Vacancy
−$2.6K −$1.48/SF
EGI
$20.6K $11.96/SF
− OpEx
−$5.2K −$2.99/SF
NOI
$15.5K $8.97/SF
Area
Burlington County, NJ
Vacancy
11.00%
Lease Rate
$13.44 /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%
$309,500
Cap Rate 7%
$221,071
Cap Rate 9%
$171,944
Alternative Uses
Best Use
Healthcare Medical
$342.5K
$299.7K – $399.6K
NOI $23,974 @ 7.0% cap · market cap 9.26%
Second Best
Office B
$221.1K
$193.4K – $257.9K
NOI $15,475 @ 7.0% cap · market cap 5.97%
Theoretical Best
Warehouse
$3.61M
$3.16M – $4.21M
NOI $252,546 @ 7.0% cap · market cap 97.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
553
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 08046, NJ
31,846
Population
11,482
Households
2.8
Avg Household Size
43
Median Age
26%
College-Educated
93%
High-School Grad
7.6 sq mi
ZIP Area
4,190
Density / Sq Mi
$91,447
Median Household Income
$43,438
Median Earnings
$1,941
Median Rent
$240,000
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Office building with a reception area, waiting room, four examining rooms, and two bathrooms.
Where is this medical office space located?
The property is located at 81 SOMERSET DRIVE Willingboro, NJ.
What is the asking price?
The asking price for this property is $259,000.
What are key features of this property?
This property features: Office building with reception area and waiting room, plus four examining rooms and 2 bathrooms; Central air cooling; heating listed as “3”; Previously a 3 BR ranch home and could be converted back from the existing office layout
