Building Details

Year Built 1998

Buildings 1

Construction metal Butler style

Listing Agency: RealtyMark Properties

Listed By: Julia P Samouilova · License #1435581 Show Phone

Source: Lgagne

Added: Jul 25 Changed: Oct 5 Last Checked: Oct 7 at 2:14PM

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Investment Insights

Based on property information with market context.

The property includes a 2,000-square-foot metal Butler-style building on more than one acre. Interior improvements include an open floor area, one office, a bathroom, concrete flooring, and a 12-foot ceiling. Two overhead doors serve the building, while a macadam parking area is already in place.

Public water, sewer, electric, and natural gas are available at the site. Preliminary plans have been prepared for a 10,000-square-foot commercial building, offering an established starting point for future development or expansion. The property is in Lawrence Township near Quaker Bridge Mall, I-95, and Route 1.

Key Highlights

• 2,000‑square‑foot metal Butler‑style building
• More than one acre of land
• Two overhead doors and 12' high ceiling

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$45,043

Cap Rate

5.31%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$900,860 $900.9K

Cap Rate 7%

$643,471 $643.5K

Cap Rate 9%

$500,478 $500.5K

Market Conditions

NOI Build-Up for 2,000 SF

Gross rent

$57.6K $28.80/SF

− Vacancy

−$4.6K −$2.30/SF

EGI

$53.0K $26.50/SF

− OpEx

−$7.9K −$3.97/SF

NOI

$45.0K $22.52/SF

Area

Mercer County, NJ

Vacancy

8.00%

Lease Rate

$28.80 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$900,860

Cap Rate 7%

$643,471

Cap Rate 9%

$500,478

Alternative Uses

Best Use

Warehouse

$643.5K

$563.0K – $750.7K (±1% cap)

NOI $45,043 @ 7.0% cap · market cap 5.31%

Second Best

Industrial

$534.5K

$467.7K – $623.6K (±1% cap)

NOI $37,417 @ 7.0% cap · market cap 4.41%

Theoretical Best

—

—

same as Best Use

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Princeton Reuse Home Decor Store

Suggested Use

Top Pick Real Estate Agency Building Supply Big Box & Wholesale Store HVAC Service Parking Lot & Garage Kitchen & Bath Showroom

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

12 ft

Clear height

Yes

Highway access

Yes

Paved road access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

337

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 08648, NJ

31,955

Population

12,217

Households

2.6

Avg Household Size

40

Median Age

60%

College-Educated

92%

High-School Grad

16.7 sq mi

ZIP Area

1,913

Density / Sq Mi

$118,036

Median Household Income

$54,833

Median Earnings

$1,953

Median Rent

$395,400

Median Home Value

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Flex space - Metal commercial building with open floor area, office, bathroom, concrete flooring, and available public utilities.

Where is this flex space located?

The property is located at 23 Lawrence Square Boulevard N Lawrence Twp, NJ.

What is the asking price?

The asking price for this property is $849,000.

What are key features of this property?

This property features: 2,000‑square‑foot metal Butler‑style building; More than one acre of land; Two overhead doors and 12' high ceiling