Grove Office Plaza 515 Grove St 43,866 SF 79% Leased Office Building Haddon Heights, NJ 08035 For Sale 10% Cap Rate

Grove Office Plaza presents a compelling opportunity to acquire a stabilized, income-producing office asset in the heart of South Jersey’s affluent suburban corridor. Comprising ±43,866 square feet across two buildings on 1.42 acres, the property is 80% leased to a diverse mix of ten tenants, including a recently renewed anchor tenant with a 7-year commitment as of October 2025. The asset delivers a strong 10% cap rate and a projected 2025 NOI of $359,787.58, supported by a weighted average lease term of 6.7 years.
Strategically positioned along White Horse Pike (Route 30), the site benefits from daily traffic counts exceeding 23,000 vehicles and is less than two miles from the Haddonfield PATCO station, offering direct transit access to Philadelphia. Immediate connectivity to I-295 and the NJ Turnpike enhances regional accessibility to Camden, Cherry Hill, and the broader Philadelphia metro. The surrounding area boasts a robust population base of over 303,000 within a 3-mile radius and average household incomes exceeding $120,000, underscoring the location’s economic vitality.
This mid-rise Class B office asset serves the Collingswood, Haddonfield, and Cherry Hill markets, making it an ideal acquisition for investors seeking stable cash flow, long-term tenancy, and proximity to high-demand suburban communities.