Flex Space with Office and
For Sale
$965,000
A-1700 Sylvan Ave, Hamilton, NJ 08610
Well-maintained condominium unit combines office space with areas suited to warehousing, manufacturing, or production.
Property Size5,280 SF
Price / SF$182.77
Days on Market9
Property Features for A-1700 Sylvan Ave
General Information
Standard status
Active
Size
5,280 SF
Zoning
General Commercial
Warehouse & Industrial
Warehouse Space
2,880 SF
Office Build-Out
2,400 SF
Taxes and HOA fees
Annual Taxes
$13,141
Building Details
Year Built
2000
Listing Agency:
Keller Williams Real Estate - Princeton
Listed By:
Michael Briehler · License #8631404
(609) 987-8889
Source:
Exprealty
Added: Aug 26
Changed: Sep 3
Last Checked: Sep 3 at 1:56AM
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 Keller Williams Real Estate - Princeton
Investment Insights
Based on property information with market context.
Unit A is a flex condominium property within a three-unit development completed in 2000. The 5,280-square-foot layout includes 2,400 square feet of office area and 2,880 square feet designated for warehousing, manufacturing, or production. The configuration can be adjusted to create more storage or production space, subject to applicable requirements.
Located at 1700 Sylvan Avenue in Hamilton, New Jersey, the property is situated in the General Commercial zoning district. Its maintained condition, office component, and adaptable industrial area support a range of service-oriented business applications.
Located at 1700 Sylvan Avenue in Hamilton, New Jersey, the property is situated in the General Commercial zoning district. Its maintained condition, office component, and adaptable industrial area support a range of service-oriented business applications.
Key Highlights
- 5,280 sq.ft. flex condominium unit
- 2,400 sq.ft. of office space
- 2,880 sq.ft. for warehousing, manufacturing, or production
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
$47,368
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
4.91%
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%
$947,360
$947.4K
Cap Rate 7%
$676,686
$676.7K
Cap Rate 9%
$526,311
$526.3K
Market Conditions
NOI Build-Up for 5,280 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
$71.0K $13.44/SF
− Vacancy
−$7.8K −$1.48/SF
EGI
$63.2K $11.96/SF
− OpEx
−$15.8K −$2.99/SF
NOI
$47.4K $8.97/SF
Area
Mercer County, NJ
Vacancy
11.00%
Lease Rate
$13.44 /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%
$947,360
Cap Rate 7%
$676,686
Cap Rate 9%
$526,311
Alternative Uses
Best Use
Warehouse
$1.70M
$1.49M – $1.98M
NOI $118,914 @ 7.0% cap · market cap 12.32%
Second Best
Industrial
$1.41M
$1.23M – $1.65M
NOI $98,781 @ 7.0% cap · market cap 10.24%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
179
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 08610, NJ
32,649
Population
12,363
Households
2.6
Avg Household Size
38
Median Age
25%
College-Educated
89%
High-School Grad
7.4 sq mi
ZIP Area
4,412
Density / Sq Mi
$87,159
Median Household Income
$43,990
Median Earnings
$1,491
Median Rent
$248,900
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?
Flex space - Well-maintained condominium unit combines office space with areas suited to warehousing, manufacturing, or production.
Where is this flex space located?
The property is located at A-1700 Sylvan Ave Hamilton, NJ.
What is the asking price?
The asking price for this property is $965,000.
What are key features of this property?
This property features: 5,280 sq.ft. flex condominium unit; 2,400 sq.ft. of office space; 2,880 sq.ft. for warehousing, manufacturing, or production
