Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    23 Forest Ln Penns Grove, NJ

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    596,443 SF warehouse with ample parking available now.

    Type:INDUSTRIAL
    Property size:
    596,443 SF
    Lot size:
    91.44 Acres
    Added:
    Jul 29, 2025
    Days on Market:
    248
    Last Refresh:
    Mar 29 at 9:16 pm

    Property Features for 23 Forest Ln

    General Information

    Standard status
    Active
    Size
    596,443 SF
    Lot size
    91.44 Acres
    Property subtype
    INDUSTRIAL

    Properties For Sale

    at 23 Forest Ln Contact us

    We can help!

    Listing Contact
    Thomas
    Thomas " Tom" Monahan

    Listing agent Thomas " Tom" Monahan

    Listing office CBRE | Saddle Brook

    Listing date Jul 29, 2025

    Source Moodyscre

    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 CBRE | Saddle Brook

    Overview

    Spacious Warehouse in Penns Grove

    This warehouse property, located in Penns Grove, NJ, offers a total building size of 596,443 square feet. The building dimensions are 1,230 feet by 495 feet, with 2,500 square feet dedicated to office space. It features a 40-foot ceiling height and column spacing of 50 feet by 54 feet, along with a 60-foot speed bay size. The property is equipped with 127 dock doors (9' x 10') and 4 drive-in doors. Parking includes 363 car spaces and 122 trailer spaces. The building is equipped with an ESFR sprinkler system and has a power supply of 2,500 amps at 480 volts/3-phase. The property is available now.
    Location Intelligence

    Current Use by Public Records

    Distribution centers

    Suggested Use

    Big Box & Wholesale Store Department Store Skin Care Clinic Kitchen & Bath Showroom Food Market Storage Facility Garden Center Discount Store Electrical Service Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Omni Logistics — Carneys Point Township, NJ 08069

    Location Insight

    • Map
    • Local Demand
    City
    Penns Grove
    County
    Salem
    State
    New Jersey
    Longitude
    -75.4137
    Latitude
    39.6794

    Nearby Similar for Sale

    • $475,000

      Professional Office Building For Sale

      Brick colonial-style building on one acre lot, suitable for various businesses.
      317 SHELL Road, PENNS GROVE, NJ 08069
      View Details
    • Contact for pricing
      530,000 SF

      530,000 SF Warehouse Available Now

      530,000 SF warehouse featuring 118 dock doors and 4 drive-in doors.
      48 Forest Ln, Penns Grove, NJ
      View Details
    • Contact for pricing
      1,754,996 SF

      Large Industrial Distribution Warehouse Space

      Offering 1,754,996 SF of warehouse and distribution space.
      57 E Quillytown Rd, Penns Grove, NJ
      View Details
    • Contact for pricing
      774,530 SF

      774,530 SF Industrial Space

      Large industrial property with 40' clear height and ample parking.
      1050 Penns Grove Auburn Rd, Penns Grove, NJ
      View Details
    • Contact for pricing
      395,822 SF

      Penns Grove Warehouse Space Available

      395,822 SF warehouse with 40' clear height for sale.
      1101 US-40, Penns Grove, NJ
      View Details

    FAQs

    What type of property is this?
    Warehouse - 596,443 SF warehouse with ample parking available now.
    Where is this warehouse located?
    The property is located at 23 Forest Ln Penns Grove, NJ.
    What are key features of this property?
    This property features: Large Building Size: 596,443 SF total building size provides ample space.; High Ceiling Height: 40' ceiling height accommodates diverse needs.; Abundant Dock Doors: 127 dock doors (9' x 10') facilitate efficient loading.
    (973) 568-6614 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Thomas
    Thomas " Tom" Monahan
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!