83 Princeton Ave | Hopewell, NJ 08525
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83 Princeton Ave
Hopewell, NJ 08525
Office Property For Sale
Investment Highlights
- Freestanding Building (Recent Fee-Simple Conversion)
- 0.98 AC ± land area
- Total building area of 13,522 SF ± (12 units)
- 3-story, elevator served building
- Ample parking - 50+ parking spaces
- Ideal for both medical and professional office users
Executive Summary
SVN is pleased to introduce a rare and highly unique opportunity to acquire a professional office investment, now available to the market for the first time. This offering encompasses a former office condominium building, comprising 12 individual units within a 3-story, elevator-served professional office building, occupying approximately one acre of prime real estate in a desirable location near downtown Hopewell Borough. Under current ownership, all 12 units within the association have been acquired, and the process of dissolving the association and converting the building to fee-simple ownership is underway. With a gross building area spanning approximately 13,522 SF, the property offers ample space for various business needs. The building exudes a stately presence and is nestled in a tranquil park-like environment, conveniently situated across the street from St. Michaels Preserve—a sprawling 400-acre expanse of farm fields, forests, and walking trails along the outskirts of Hopewell Borough. Hopewell stands out as a highly desirable community, boasting an array of distinctive shops and eateries. This offering presents an exceptional value-add investment opportunity, offering immediate rental income and significant potential for owner/users seeking to occupy the property.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
13,522 SF
Building Class
B
Year Built
1987
Price
£1,465,347
Price Per SF
£108
Percent Leased
15%
Tenancy
Multiple
Number of Floors
3
Typical Floor Size
4,507 SF
Building FAR
0.32
Lot Size
0.96 AC
Zoning
C-1 - Neighborhood Retail Commercial
Parking
50 Spaces (3.7 Spaces per 1,000 SF Leased)
Amenities
- Air Conditioning
PROPERTY TAXES
Parcel Numbers | Improvements Assessment | £87,604 | |
Land Assessment | £47,366 | Total Assessment | £134,970 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
£47,366
Improvements Assessment
£87,604
Total Assessment
£134,970
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