Office Condominium with Four
For Sale
$225,000
Pending
900 ROUTE 168 #B3, Blackwood, NJ 08012
Sunlit two-story suite with reception, kitchenette, modern bath, and four private offices, with HVAC replaced in 2022.
Property Size1,465 SF
Days on Market54
Property Features for 900 ROUTE 168 #B3
General Information
Standard status
Pending
Size
1,465 SF
Property subtype
Commercial
Additional Details
Highway Access
Yes
Office Units
4
Building Details
Year Built
1990
Stories
2
Listing Agency:
BHHS Fox & Roach - Haddonfield
(856) 979-3157
Listed By:
Kathleen Boggs-Shaner · License #0446731
(856) 979-3157
Source:
Cummingsrealtors
Added: Jul 1
Changed: Aug 8
Last Checked: Aug 6 at 3:53AM
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 BHHS Fox & Roach - Haddonfield
Investment Insights
Based on property information with market context.
This two-story office condominium offers a bright, open layout designed for client-facing and team workflow. The space includes a foyer, reception area, a large common area, a modern bathroom, and a kitchenette, along with four private office spaces. The unit is offered with office furniture, and the HVAC system was replaced in 2022.
Located within the Washington Professional Campus at 900 Route 168 in Blackwood, NJ (Turnersville area), the property is positioned for straightforward daily access. The complex provides easy entry to major highways and includes a bus stop on site. A restaurant is also described as being steps from the office.
The configuration supports a range of business needs, whether you are starting out, downsizing, or expanding within a private office setting. With a reception area, multiple enclosed offices, and shared common space, the layout can accommodate both client meetings and internal operations while keeping everyday amenities such as a kitchenette and modern bathroom in the suite.
Located within the Washington Professional Campus at 900 Route 168 in Blackwood, NJ (Turnersville area), the property is positioned for straightforward daily access. The complex provides easy entry to major highways and includes a bus stop on site. A restaurant is also described as being steps from the office.
The configuration supports a range of business needs, whether you are starting out, downsizing, or expanding within a private office setting. With a reception area, multiple enclosed offices, and shared common space, the layout can accommodate both client meetings and internal operations while keeping everyday amenities such as a kitchenette and modern bathroom in the suite.
Key Highlights
- 1990‑built two‑story condominium at Washington Professional Campus, 900 Route 168, Turnersville
- Sunlit, open office suite with foyer, reception area, large common area, kitchenette, and modern bathroom
- Includes 4 private office spaces
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
$20,558
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
9.14%
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%
$411,160
$411.2K
Cap Rate 7%
$293,686
$293.7K
Cap Rate 9%
$228,422
$228.4K
Market Conditions
NOI Build-Up for 1,465 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
$32.2K $21.96/SF
− Vacancy
−$4.8K −$3.25/SF
EGI
$27.4K $18.71/SF
− OpEx
−$6.9K −$4.68/SF
NOI
$20.6K $14.03/SF
Area
Camden County, NJ
Vacancy
14.80%
Lease Rate
$21.96 /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%
$411,160
Cap Rate 7%
$293,686
Cap Rate 9%
$228,422
Alternative Uses
Best Use
Office B
$293.7K
$257.0K – $342.6K
NOI $20,558 @ 7.0% cap · market cap 9.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$371.5K
$325.0K – $433.4K
NOI $26,002 @ 7.0% cap · market cap 11.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
618
Businesses Nearby
Explore this area
Business Placement
Demographics for 08012, NJ
38,581
Population
16,192
Households
2.4
Avg Household Size
40
Median Age
34%
College-Educated
95%
High-School Grad
15.0 sq mi
ZIP Area
2,572
Density / Sq Mi
$93,497
Median Household Income
$52,650
Median Earnings
$1,589
Median Rent
$268,500
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 units - Sunlit two-story suite with reception, kitchenette, modern bath, and four private offices, with HVAC replaced in 2022.
Where is this office units located?
The property is located at 900 ROUTE 168 #B3 Blackwood, NJ.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: 1990‑built two‑story condominium at Washington Professional Campus, 900 Route 168, Turnersville; Sunlit, open office suite with foyer, reception area, large common area, kitchenette, and modern bathroom; Includes 4 private office spaces
