Building Details

Year Built 2000

Listing Agency: Keller Williams Real Estate - Princeton i***@kwempower.com

Listed By: Michael Briehler · License #8631404 Show Phone

Source: Exprealty

Added: Sep 2 Changed: Oct 8 Last Checked: Oct 16 at 3:16PM

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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.

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 / Yr

$47,368

Cap Rate

4.91%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$947,360 $947.4K

Cap Rate 7%

$676,686 $676.7K

Cap Rate 9%

$526,311 $526.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,280 SF

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 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 (±1% cap)

NOI $118,914 @ 7.0% cap · market cap 12.32%

Second Best

Industrial

$1.41M

$1.23M – $1.65M (±1% cap)

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. How Realmo checks its estimates

Property Analytics

Current Use

Flex space

Suggested Use

Top Pick Real Estate Agency Big Box & Wholesale Store Dental Office Restaurant Auto Repair Shop Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

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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