Building Details

Year Built 1986

Buildings 1

Stories 1

Units 11

Tenancy Multi

Listing Agency: Fennelly Associates, Inc

Listed By: Jerry Fennelly · License #NJ 8131550

Source: Crexi

Added: Jul 1, 2020 Changed: Oct 12 Last Checked: Oct 19 at 3:41AM

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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 Fennelly Associates, Inc

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Investment Insights

Based on property information with market context.

This 27,773 square foot office and medical complex is located in the heart of Princeton Junction in Mercer County, New Jersey. The property is situated within walking distance of the Princeton Junction Train Station and is approximately 15 minutes from Princeton. The building features operable windows and separate mechanical systems. There are 110 parking spaces available. The location offers convenient access to Route 1 and Route 130. Nearby amenities include a shopping center adjacent to the building with food, entertainment, and daycare options, as well as Quakerbridge Mall, Market Fair, and Mercer Mall. The property is a four-minute drive from US Route 1 and provides access to the Northeast Corridor Line, offering access to New York City and Philadelphia. The property is located in Block 10, Lot 19 and is zoned ROM4. Taxes are $98,030.39.

Key Highlights

• Walk to Princeton Junction Train Station for easy access to NYC & Philadelphia
• 27,773 SF Office/Medical Complex
• 110 Parking Spaces available

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$385,662

Cap Rate

8.87%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$7,713,240 $7.7M

Cap Rate 7%

$5,509,457 $5.5M

Cap Rate 9%

$4,285,133 $4.3M

Is this asking price fair?

Market Conditions

NOI Build-Up for 27,773 SF

Gross rent

$819.9K $29.52/SF

− Vacancy

−$177.1K −$6.38/SF

EGI

$642.8K $23.14/SF

− OpEx

−$257.1K −$9.26/SF

NOI

$385.7K $13.89/SF

Area

Mercer County, NJ

Vacancy

21.60%

Lease Rate

$29.52 /SF/Yr

Expense Ratio

40.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$7,713,240

Cap Rate 7%

$5,509,457

Cap Rate 9%

$4,285,133

Alternative Uses

Best Use

Healthcare Medical

$5.51M

$4.82M – $6.43M (±1% cap)

NOI $385,662 @ 7.0% cap · market cap 8.87%

Second Best

Office B

$3.56M

$3.11M – $4.15M (±1% cap)

NOI $249,157 @ 7.0% cap · market cap 5.73%

Theoretical Best

Warehouse

$8.94M

$7.82M – $10.42M (±1% cap)

NOI $625,492 @ 7.0% cap · market cap 14.38%

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

Property Analytics

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Current Use

Mcbride Greg Lcadc ... Social Service Agency Enerex | Retail Energy's ... (Bike/Boat/Book/etc) Store Gregory H. Moore, ... Physician Dr. Sheila Josephs Physician Garson Eliot E ... Physician

Suggested Use

Top Pick HVAC Service (Bike/Boat/Book/etc) Store Auto Parts Store Bakery Garden Center Cafe & Coffee Shop

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

323

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 08550, NJ

21,034

Population

7,839

Households

2.7

Avg Household Size

43

Median Age

84%

College-Educated

99%

High-School Grad

19.1 sq mi

ZIP Area

1,101

Density / Sq Mi

$206,658

Median Household Income

$121,740

Median Earnings

$2,694

Median Rent

$758,900

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

Frequently Asked Questions

What type of property is this?

Medical Office Space - 27,773 SF office/medical complex near Princeton Junction Train Station.

Where is this medical office space located?

The property is located at 231 Clarksville Rd West Windsor Township, NJ.

What is the asking price?

The asking price for this property is $4,350,000.

What are key features of this property?

This property features: Walk to Princeton Junction Train Station for easy access to NYC & Philadelphia; 27,773 SF Office/Medical Complex; 110 Parking Spaces available