Versatile Office Building on Corner
For Sale
$449,900
666 Madison Ave, Burlington, NJ 08016
Single-level office building with high visibility and diverse usage allowances.
Property Size2,750 SF
Lot Size0.17 Acres
Price / SF$163.60
Days on Market894
Property Features for 666 Madison Ave
General Information
Standard status
Active
Size
2,750 SF
Lot size
0.17 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$10,392
Building Details
Year Built
1958
Listing Agency:
TWINS ASSOCIATES, LLC
(609) 526-4273
Listed By:
MURAT SENGUL · License #0447447
(856) 313-2390
Source:
Corcoran
Added: Apr 14, 2024
Changed: Sep 15
Last Checked: Sep 22 at 5:26PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of TWINS ASSOCIATES, LLC
Investment Insights
Based on property information with market context.
This 2,750+/- square foot single-level office building, constructed in the late 1990s with a recent addition, is located at the corner of Route 130 and Madison Avenue. The building features a masonry exterior and a concrete foundation. The property benefits from high visibility, with over 50,000 cars passing daily on Route 130. The 14-room space is equipped with a ramp and regular entrance, as well as handicapped bathrooms. It is serviced by a single-phase 200-amp electrical system, and heating and cooling needs are met with forced-air gas-fired systems. Approved civic uses for the property include public and private parks and playgrounds. Religious uses such as worship, assembly, Sunday school, parish, rectory, parsonage, or convent are conditionally allowed. Education-related usage includes nurseries, preschools, kindergartens, and state-licensed elementary and secondary schools, with conditional approval. Health care and social assistance facilities are conditionally permitted. Professional and technical services, administrative and support services, and information-related activities are permitted as home occupations. Scientific research and development services are also permitted as home occupations.
Key Highlights
- High visibility location
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$24,671
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.48%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$493,420
$493.4K
Cap Rate 7%
$352,443
$352.4K
Cap Rate 9%
$274,122
$274.1K
Market Conditions
NOI Build-Up for 2,750 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$37.0K $13.44/SF
− Vacancy
−$4.1K −$1.48/SF
EGI
$32.9K $11.96/SF
− OpEx
−$8.2K −$2.99/SF
NOI
$24.7K $8.97/SF
Area
Burlington County, NJ
Vacancy
11.00%
Lease Rate
$13.44 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$493,420
Cap Rate 7%
$352,443
Cap Rate 9%
$274,122
Alternative Uses
Best Use
Office B
$352.4K
$308.4K – $411.2K
NOI $24,671 @ 7.0% cap · market cap 5.48%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$5.75M
$5.03M – $6.71M
NOI $402,610 @ 7.0% cap · market cap 89.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
331
Businesses Nearby
Explore this area
Business Placement
Demographics for 08016, NJ
34,617
Population
13,842
Households
2.5
Avg Household Size
41
Median Age
34%
College-Educated
92%
High-School Grad
21.6 sq mi
ZIP Area
1,603
Density / Sq Mi
$92,560
Median Household Income
$49,919
Median Earnings
$1,343
Median Rent
$308,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Office building - Single-level office building with high visibility and diverse usage allowances.
Where is this office building located?
The property is located at 666 Madison Ave Burlington, NJ.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: High visibility location
