16 Front St Trenton, NJ 08608

Property Details for 16 Front St

Year built

1950

Property size

42,600 SF

Property type

Office Properties & Spaces

Description

This exceptional Class A executive office building, located at 16 West Front Street in Trenton, NJ, presents a compelling investment opportunity. The 42,600 square foot building, constructed in 1950 and extensively renovated in 2019, boasts 38,000 square feet of net rentable space currently 85% occupied (as of January 1, 2022). The property features high ceilings, quality carpeting and vinyl tile flooring, abundant natural light, and multiple public restrooms. Its flexible layout allows for easy partitioning into private offices and conference rooms. The building is equipped with modern amenities including high-efficiency HVAC and energy-efficient lighting, windows, and doors. Further enhancing its appeal are elevator access, secure building access, and a concrete core construction allowing for potential expansion up to two additional floors. Situated in the heart of Trenton's central business district, this institutional-style building benefits from a prime location, just half a block from the NJ Statehouse and surrounded by numerous amenities such as restaurants, cafes, and shops. Excellent accessibility is provided by proximity to major roadways (Routes 29, 195, 1, 31, 33, and 206), public transportation (including bus stops and a 10-minute walk to the Trenton Transit Center), and convenient access to the train. The asking price is $3,500,000, representing a compelling $82.16 per square foot and a 9.93% cap rate based on a Net Operating Income (NOI) of $347,436. The property is zoned for commercial use and offered as a fee-simple ownership.

Location Insight

City

Trenton

County

Mercer

State

New Jersey

Longitude

-74.7668

Latitude

40.2195