Two-Story Office Building For
For Sale
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684 Whitehead Rd, Lawrence Township, NJ 08648
9,800 SF office building with easy access to major cities.
Property Size9,800 SF
Price / SF$158.16
Days on Market1396
Property Features for 684 Whitehead Rd
General Information
Standard status
Active
Size
9,800 SF
Class
B
Property subtype
Office
Zoning
office
Building Details
Year Built
1967
Buildings
1
Stories
2
Units
1
Listing Agency:
Fennelly Associates, Inc
Listed By:
Jerry Fennelly · License #NJ 8131550
Source:
Crexi
Added: Oct 26, 2022
Changed: Aug 21
Last Checked: Aug 20 at 12:40AM
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 Fennelly Associates, Inc
Investment Insights
Based on property information with market context.
This 9,800 square foot, two-story office building is available for sale. The property is zoned O - Office and includes 35 parking spaces. Utilities available at the property include electric, gas, water, sewer, and cable (Verizon and Comcast). A brand new HVAC system has been installed. The property is located on Business Route 1, offering convenient access to Trenton, Philadelphia, New York, and Princeton. Additionally, the Hamilton Train Station is located five minutes away. The annual property taxes are $30,575.28. Restaurants are located in close proximity to the building.
Key Highlights
- Excellent Location: Easy access to Trenton, Philadelphia, New York, and Princeton, plus five minutes to Hamilton Train Station.
- Ample Parking: 35 parking spaces available.
- New HVAC System: Benefit from a brand new, efficient HVAC system.
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
$87,918
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
5.67%
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%
$1,758,360
$1.8M
Cap Rate 7%
$1,255,971
$1.3M
Cap Rate 9%
$976,867
$976.9K
Market Conditions
NOI Build-Up for 9,800 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
$131.7K $13.44/SF
− Vacancy
−$14.5K −$1.48/SF
EGI
$117.2K $11.96/SF
− OpEx
−$29.3K −$2.99/SF
NOI
$87.9K $8.97/SF
Area
Mercer 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%
$1,758,360
Cap Rate 7%
$1,255,971
Cap Rate 9%
$976,867
Alternative Uses
Best Use
Office B
$1.26M
$1.10M – $1.47M
NOI $87,918 @ 7.0% cap · market cap 5.67%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$3.15M
$2.76M – $3.68M
NOI $220,712 @ 7.0% cap · market cap 14.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
590
Businesses Nearby
Explore this area
Business Placement
Demographics for 08648, NJ
31,955
Population
12,217
Households
2.6
Avg Household Size
40
Median Age
60%
College-Educated
92%
High-School Grad
16.7 sq mi
ZIP Area
1,913
Density / Sq Mi
$118,036
Median Household Income
$54,833
Median Earnings
$1,953
Median Rent
$395,400
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 - 9,800 SF office building with easy access to major cities.
Where is this office building located?
The property is located at 684 Whitehead Rd Lawrence Township, NJ.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Excellent Location: Easy access to Trenton, Philadelphia, New York, and Princeton, plus five minutes to Hamilton Train Station.; Ample Parking: 35 parking spaces available.; New HVAC System: Benefit from a brand new, efficient HVAC system.
