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    202 State St Trenton, NJ 08608

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    For Lease
    Contact for pricing

    Prestigious State House District Office Space

    Lot size:
    5,026 SF

    Property Features for 202 State St

    General Information

    Property type
    Office properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    5,026 SF
    Class
    C
    Total Rate
    5026

    Building Details

    Year Built
    1897
    Buildings
    1
    Stories
    4

    Spaces For Lease

    at 202 State St, Trenton, NJ 08608 Contact us
    Unit Office Space - 3rd Floor

    $12 /Mo

    Size
    1,256 SF
    Contact us
    Unit Office Space - 1st Floor

    $12 /Mo

    Size
    1,400 SF
    Contact us
    Unit Office Space - 4th Floor

    $12 /Mo

    Size
    1,100 SF
    Contact us
    Unit Office Space - 2nd Floor

    $12 /Mo

    Size
    1,256 SF
    Contact us

    We can help!

    Listing Contact
    Anne Labate
    Anne Labate

    Listing Agency: Segal LaBate Commercial Real Estate Listing Agent: Anne Labate

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This stunning, four-story brownstone at 202 West State Street, Trenton, offers 5,026 square feet of executive office space in a prime location. Built in 1897, this Class C building boasts four suites, currently with 5,012 square feet vacant, allowing for flexible configurations. Individual suites range from approximately 1,100 to 1,400 square feet, perfect for small businesses or those seeking expansion opportunities. Tenants can choose to occupy a single suite or combine multiple units to create larger spaces, catering to diverse needs. The property benefits from a convenient rear parking lot with 10 spaces, a valuable asset in this vibrant area. Its location directly across from the New Jersey State House provides unparalleled access to government buildings, and its proximity to numerous restaurants and cultural attractions enhances its appeal. The building is zoned BA - Historic District, reflecting its place within Trenton's rich architectural heritage. This exceptional property presents a unique opportunity to establish a presence in a highly desirable and historically significant location. The building's classic charm combined with its modern adaptability makes it an ideal choice for businesses seeking a prestigious and convenient address.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Pringle Quinn Anzan Law Firm New Jersey Burglar ... Charitable Organization

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Trenton
    County
    Mercer
    State
    New Jersey
    Longitude
    -74.7727371
    Latitude
    40.2219737

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    FAQs

    What type of property is this?
    Office property - Prestigious State House District Office Space
    Where is this office property located?
    The property is located at 202 State St Trenton, NJ.
    What is the lease rate?
    The lease rate is $12 SF/Yr.
    What are key features of this property?
    This property features: Executive office building totaling 5,026 square feet.; Four suites available, ranging from 1,100 to 1,400 square feet each.; 5,012 square feet currently vacant.
    (609) 394-7557 Call to check price and availability
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    202 State St Trenton, NJ 08608
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    Trenton, NJ 08608
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    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
    202 State St Trenton, NJ 08608
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    Contact for Pricing
    Please call us for current price
    and status of this listing Anne Labate
    Anne Labate
    Real Estate License ID: 9587202
    (609) 394-7557 (609) 947-5812
    Learn more
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