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Princeton Officepark 37 Station Dr 9,616 SF 100% Leased Office Building Princeton Junction, NJ 08550 $2,399,000 ($249.48/SF)
Investment Highlights
- ± 9,616 SF Freestanding Building
- Prime Location at the Princeton Junction Train Station
- ±73 Parking Spaces including ±40 Daily Rental Spots
- ±.67 Total Acres on 2 Separate Lots
- Minutes to Princeton University, Downtown, Penn Hospital
- 7 Total Suites w/ 6 Rented for Income. Potential for Owner Occupier
Executive Summary
FOR SALE: ±9,616 SF Freestanding Office Building located at the entrance to the Princeton Junction Train Station.
37-41 Station Rd presents a rare opportunity to purchase a property within walking distance to the North East Corridor Train Station at Princeton Junction, providing quick and easy access to NYC or Philadelphia in an hour. The property is minutes from downtown Princeton, the Penn Medicine Hospital, and Princeton University.
The property comprises a ±9,616 SF office building configured with 7 separate suites. Currently, 6 are rented providing stable income. However, there is an opportunity for more space in the building for an owner occupier. The property has an abundance of dedicated on-site parking and features a secondary parking lot which is currently being rented to a daily park operator, providing additional bonus income. New ownership will have the opportunity to collect this passive income or operate the parking business directly, proving a value add opportunity. Due to the existing in-place rental and parking income and potential upcoming vacancy, the property presents an ideal opportunity for an owner occupier needing quick access to the train station and a location in close proximity to Princeton.
Ideal Professional Office Uses: IT Consulting, IT Staffing, Software, Accounting, Attorneys, Title Company, Real Estate Office, Tutoring, Counseling and Therapy, ABA Therapy, Disability Day Program, Engineering, Architecture, or any professional office use. Ideal Medical Uses: Physical Therapy, Dental, Primary Care, or any other Medical Office Use.
Property Features:
• ±9,616 SF 2 Story Office Building
• ±.67 Total Acres between 2 Separate Lots
• ±73 Total Parking Spaces including ±40 Daily Rental Spots for Income
• 7 Total Suites w/ 6 Rented for Stable Income
• Potential Vacancy for Owner Occupier
• Newly Paved Parking Lot
• Upgraded w/ Newer Roof and Facade
• Walking Distance to Train Station
• Next to Brand New ±600 Unit Avalon W Squared at Princeton Junction
• Separate Electric and Gas Meters for Each Tenant
• Zoned ROM-2
• Real Estate Taxes: $23,123 per year
• Asking Price: $2,399,000
Call Broker for more information or to schedule a tour of the property.
37-41 Station Rd presents a rare opportunity to purchase a property within walking distance to the North East Corridor Train Station at Princeton Junction, providing quick and easy access to NYC or Philadelphia in an hour. The property is minutes from downtown Princeton, the Penn Medicine Hospital, and Princeton University.
The property comprises a ±9,616 SF office building configured with 7 separate suites. Currently, 6 are rented providing stable income. However, there is an opportunity for more space in the building for an owner occupier. The property has an abundance of dedicated on-site parking and features a secondary parking lot which is currently being rented to a daily park operator, providing additional bonus income. New ownership will have the opportunity to collect this passive income or operate the parking business directly, proving a value add opportunity. Due to the existing in-place rental and parking income and potential upcoming vacancy, the property presents an ideal opportunity for an owner occupier needing quick access to the train station and a location in close proximity to Princeton.
Ideal Professional Office Uses: IT Consulting, IT Staffing, Software, Accounting, Attorneys, Title Company, Real Estate Office, Tutoring, Counseling and Therapy, ABA Therapy, Disability Day Program, Engineering, Architecture, or any professional office use. Ideal Medical Uses: Physical Therapy, Dental, Primary Care, or any other Medical Office Use.
Property Features:
• ±9,616 SF 2 Story Office Building
• ±.67 Total Acres between 2 Separate Lots
• ±73 Total Parking Spaces including ±40 Daily Rental Spots for Income
• 7 Total Suites w/ 6 Rented for Stable Income
• Potential Vacancy for Owner Occupier
• Newly Paved Parking Lot
• Upgraded w/ Newer Roof and Facade
• Walking Distance to Train Station
• Next to Brand New ±600 Unit Avalon W Squared at Princeton Junction
• Separate Electric and Gas Meters for Each Tenant
• Zoned ROM-2
• Real Estate Taxes: $23,123 per year
• Asking Price: $2,399,000
Call Broker for more information or to schedule a tour of the property.
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Building Size
9,616 SF
Building Class
C
Year Built
1970
Price
$2,399,000
Price Per SF
$249.48
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
4,800 SF
Building FAR
0.33
Lot Size
0.67 AC
Zoning
RP-2 - ROM-2
Parking
141 Spaces (5.41 Spaces per 1,000 SF Leased)
Amenities
- Air Conditioning
1 1
Somewhat walkable
20/100
Exceptionally drivable
90/100
Some public transit
50/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 13-00006-0000-00010 | Improvements Assessment | $506,200 |
| Land Assessment | $225,100 | Total Assessment | $731,300 |
Property Taxes
Parcel Number
13-00006-0000-00010
Land Assessment
$225,100
Improvements Assessment
$506,200
Total Assessment
$731,300
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Princeton Officepark | 37 Station Dr
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