Princeton Office/Medical Space
For Sale
Contact for pricing
707 Alexander Rd, Princeton, NJ 08540
Office and medical space for sale near Princeton University.
Property Size24,168 SF
Price / SF$165.04
Days on Market1281
Property Features for 707 Alexander Rd
General Information
Standard status
Active
Size
24,168 SF
Class
B
Property subtype
Office
Lease Type
Gross
Building Details
Year Renovated
2020
Buildings
2
Units
3
Tenancy
Multi
Listing Agency:
Fennelly Associates, Inc
Listed By:
Harrison Westfall · License #2585414
(609) 520-0061
Source:
Crexi
Added: Apr 5, 2023
Changed: Oct 5
Last Checked: Oct 5 at 3:33PM
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.
Office and medical space is available for sale. Building 2 offers 3,080 square feet. Building 3, Unit 1 provides 17,500 square feet, and Unit 2 provides 3,588 square feet, with the possibility of contiguous use. The ceiling height features a drop ceiling at 9 feet 6 inches and a deck height of 17 feet. Parking is available at a ratio of 4 cars per 1,000 square feet. The space includes large bathrooms, multiple exits, and separate HVAC systems. It is equipped with heavy power, offering 1200 Amps. The property is located across the street from the Princeton Hyatt and is walkable to the Princeton Junction Train Station on the NEC Corridor. It is also situated one mile from Princeton University, with easy access to the New Jersey Turnpike, I-95, and Route 1.
Key Highlights
- Walkable to Princeton Junction Train Station (NEC Corridor)
- Easy access to NJ Turnpike, I‑95 & Rt. 1
- Across the Street from Princeton Hyatt
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$335,602
Cap Rate
8.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,712,040
$6.7M
Cap Rate 7%
$4,794,314
$4.8M
Cap Rate 9%
$3,728,911
$3.7M
Market Conditions
NOI Build-Up for 24,168 SF
Gross rent
$713.4K $29.52/SF
− Vacancy
−$154.1K −$6.38/SF
EGI
$559.3K $23.14/SF
− OpEx
−$223.7K −$9.26/SF
NOI
$335.6K $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%
$6,712,040
Cap Rate 7%
$4,794,314
Cap Rate 9%
$3,728,911
Alternative Uses
Best Use
Healthcare Medical
$4.79M
$4.20M – $5.59M
NOI $335,602 @ 7.0% cap · market cap 8.41%
Second Best
Office B
$3.10M
$2.71M – $3.61M
NOI $216,816 @ 7.0% cap · market cap 5.44%
Theoretical Best
Warehouse
$7.78M
$6.80M – $9.07M
NOI $544,302 @ 7.0% cap · market cap 13.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,413
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 08540, NJ
48,216
Population
19,255
Households
2.5
Avg Household Size
41
Median Age
82%
College-Educated
98%
High-School Grad
51.7 sq mi
ZIP Area
933
Density / Sq Mi
$169,898
Median Household Income
$80,357
Median Earnings
$2,083
Median Rent
$723,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Similar Off Market Nearby
- Princeton Animal Hospital & Carnegie Cat Clinic — 726 Alexander Rd, Princeton, NJ 08540
Frequently Asked Questions
What type of property is this?
Medical Office Space - Office and medical space for sale near Princeton University.
Where is this medical office space located?
The property is located at 707 Alexander Rd Princeton, NJ.
What is the asking price?
The asking price for this property is $3,988,750.
What are key features of this property?
This property features: Walkable to Princeton Junction Train Station (NEC Corridor); Easy access to NJ Turnpike, I‑95 & Rt. 1; Across the Street from Princeton Hyatt
