Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    221 W Hanover St Trenton, NJ 8618

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    40,000 SF office building available for lease.

    Type:Office
    Property size:
    40,000 SF
    Added:
    Aug 7, 2020
    Days on Market:
    2077
    Last Refresh:
    Mar 17 at 1:14 pm

    Property Features for 221 W Hanover St

    General Information

    Standard status
    Active
    Size
    40,000 SF
    Property subtype
    Office

    Spaces For Lease

    at 221 W Hanover St Contact us

    Available Space 01 $21 /Mo

    Size
    40,000 SF
    Type
    Office
    Contact us

    We can help!

    Listing Contact
    Jerry Fennelly

    Listing agent Jerry Fennelly License #NJ 8131550

    Listing office Fennelly Associates, Inc

    Listing date Aug 7, 2020

    Source Crexi

    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

    Overview

    Office Building Available For Lease

    A 40,000 square foot office building is available for lease.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office buildings

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Trenton
    County
    Mercer
    State
    New Jersey
    Longitude
    -74.7611193
    Latitude
    40.221254

    Nearby Similar for Lease

    • Contact for pricing

      Trenton Commercial Space For Lease

      Commercial space suitable for restaurant, deli, store, or offices.
      328-334 E STATE Street, TRENTON, NJ 08608
      View Details
    • Contact for pricing

      Prime Storefront on Parkway Avenue

      2200 SF storefront on a high-traffic main road.
      266 PARKWAY Avenue, TRENTON, NJ 08618
      View Details
    • $9/mo

      Versatile Commercial Space Near Transit

      Ground-floor space ideal for retail, restaurant, office, or daycare.
      143 STATE ST, TRENTON, NJ 08608
      View Details
    • $9/mo

      Versatile Commercial Space Near Transit

      Ground-floor space ideal for retail, restaurant, office, or daycare.
      143 STATE ST, TRENTON, NJ 08608
      View Details
    • $118,570/mo

      Versatile Commercial Property in Trenton

      11,857 SF mixed-use property for lease in Trenton, NJ.
      2 Pearl St, TRENTON, NJ 08609
      View Details
    • $9/mo

      Retail Space Near Trenton Station

      Ground-floor commercial space near Trenton Train Station.
      143 STATE ST, TRENTON, NJ 08608
      View Details
    • Contact for pricing

      Raw Commercial Space For Rent

      1,700 SF raw commercial space available for rent.
      901 Brunswick Ave, TRENTON, NJ 08638
      View Details
    • Contact for pricing

      Retail/Office Space Near City Hall

      Spacious accommodation suitable for retail, restaurant, or office use.
      328-334 E State St, TRENTON, NJ 08608
      View Details
    • Contact for pricing

      Retail Space with Open Layout

      1,700 sq ft retail space with high traffic exposure.
      1569 Parkway Ave, TRENTON, NJ 08628
      View Details
    • $8/mo

      Trenton Office Space Available

      Office space for rent in Trenton, New Jersey.
      1400 E State St, Trenton, NJ
      View Details
    • Contact for pricing

      Mixed-Use Building Near Community College

      Mixed-use property with retail space and residential apartment available for rent.
      121 N BROAD STREET, TRENTON, NJ 08608
      View Details
    • $18/mo

      Office Space Near Train Station

      Office space in attractive corporate setting near transportation and amenities.
      3840 Quakerbridge Rd, Trenton, NJ
      View Details

    FAQs

    What type of property is this?
    Office building - 40,000 SF office building available for lease.
    Where is this office building located?
    The property is located at 221 W Hanover St Trenton, NJ.
    What are key features of this property?
    This property features: 40,000 SF Office Building; Available for Lease
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Jerry Fennelly
    Real Estate License ID: NJ 8131550
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!