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932 Route 206 16,596 SF 49% Leased Office Building Princeton, NJ 08540 $6,500,000 ($391.66/SF) 6.63% Cap Rate
Investment Highlights
- Princeton Medical Investment
- Stabilized Long Term Leases with Annual Rent Increases
- Building has an Elevator
- Surgery Center Infrastructure
- Turn Key Professional Office Space Available for User
Executive Summary
Brand New to the Market! Premier Medical Office Investment with Surgery Center.
932 State Road, Princeton, NJ 08540
Ideal for User / Investor.
932 State Road is 48% occupied by The Princeton Center for Plastic Surgery, and Princeton Surgiplex (Surgery Center). The building has full elevator access, and the roof was recently replaced in 2021.
2nd Floor Space is a fully built out professional office space available for a User.
• 16,596 SF Two Story Medical-Office Investment
• 48.7% Occupied - 8,521 SF Fully Built Out Professional Office Space Available for a User.
• Asking Price: $6,500,000.00
• Proforma NOI: $430,820.44
• Proforma CAP Rate: 6.63%
• Year Built / Renovated: 1972 / 2021. The roof was replaced in 2021.
• Parking: 61 Total Parking Spaces
• The building has 1 passenger elevator.
• The property is located on the heavily traveled US Route 206 (State Road) in the heart of Princeton.
• US Route 206 has approximately 24,621 vehicles per day.
Please reach out to Matt Miller for additional financial information.
Email: matt@legacyrealynj.com
Cell: 908-770-0686
932 State Road, Princeton, NJ 08540
Ideal for User / Investor.
932 State Road is 48% occupied by The Princeton Center for Plastic Surgery, and Princeton Surgiplex (Surgery Center). The building has full elevator access, and the roof was recently replaced in 2021.
2nd Floor Space is a fully built out professional office space available for a User.
• 16,596 SF Two Story Medical-Office Investment
• 48.7% Occupied - 8,521 SF Fully Built Out Professional Office Space Available for a User.
• Asking Price: $6,500,000.00
• Proforma NOI: $430,820.44
• Proforma CAP Rate: 6.63%
• Year Built / Renovated: 1972 / 2021. The roof was replaced in 2021.
• Parking: 61 Total Parking Spaces
• The building has 1 passenger elevator.
• The property is located on the heavily traveled US Route 206 (State Road) in the heart of Princeton.
• US Route 206 has approximately 24,621 vehicles per day.
Please reach out to Matt Miller for additional financial information.
Email: matt@legacyrealynj.com
Cell: 908-770-0686
Property Facts
Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Office
Property Subtype
Building Size
16,596 SF
Building Class
B
Year Built/Renovated
1972/2021
Price
$6,500,000
Price Per SF
$391.66
Cap Rate
6.63%
NOI
$430,820
Percent Leased
49%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
8,298 SF
Building FAR
0.35
Lot Size
1.09 AC
Zoning
C
Parking
61 Spaces (3.68 Spaces per 1,000 SF Leased)
Space Availability
- Space
- Size
- Space Use
- Build-Out
- Available
Fully Built Out Previous Behavioral Health & Wellness Center +/- 8,521 SF (Potential for division) - Turn Key Space - Multiple Private Offices & Open Areas - Multiple Restrooms within the space. Asking Rent: $32 Gross Plus Utilities
| Space | Size | Space Use | Build-Out | Available |
| 2nd Floor | 8,521 SF | Office/Medical | Full Build-Out | Now |
2nd Floor
| Size |
| 8,521 SF |
| Space Use |
| Office/Medical |
| Build-Out |
| Full Build-Out |
| Available |
| Now |
2nd Floor
| Size | 8,521 SF |
| Space Use | Office/Medical |
| Build-Out | Full Build-Out |
| Available | Now |
Fully Built Out Previous Behavioral Health & Wellness Center +/- 8,521 SF (Potential for division) - Turn Key Space - Multiple Private Offices & Open Areas - Multiple Restrooms within the space. Asking Rent: $32 Gross Plus Utilities
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Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 13-34001-0000-00073 | Improvements Assessment | $1,335,600 |
| Land Assessment | $259,000 | Total Assessment | $1,594,600 |
Property Taxes
Parcel Number
13-34001-0000-00073
Land Assessment
$259,000
Improvements Assessment
$1,335,600
Total Assessment
$1,594,600
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