Building Details

Buildings 1

Tenancy Single

Listing Agency: Fennelly Associates, Inc

Listed By: Jerry Fennelly · License #NJ 8131550

Source: Crexi

Added: Aug 8, 2024 Changed: Aug 11 Last Checked: Aug 20 at 9:10PM

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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 Fennelly Associates, Inc

Investment Insights

Based on property information with market context.

This 35,154 square foot industrial property includes 10,000 square feet of office and production space, situated on 3.5 acres. The property features a 33'6" clear ceiling height and 35x35 column spacing. It is equipped with three loading docks and one drive-in door. The building is fully sprinklered and temperature controlled. Zoned for industrial use, the property offers convenient access to Route 1, I-295, and the New Jersey Turnpike. It is currently an investment property with an existing lease of 7 years and 6 months.

Key Highlights

• Investment Property with a 7 Year 6 Month Lease
• 35,154 SF Building with 10,000 SF of Office/Production Space on 3.5 Acres
• Convenient location with easy access to Route 1, I‑295, and the NJ Turnpike

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

$791,724

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

6.75%

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%

$15,834,480 $15.8M

Cap Rate 7%

$11,310,343 $11.3M

Cap Rate 9%

$8,796,933 $8.8M

Market Conditions

NOI Build-Up for 35,154 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

$1.01M $28.80/SF

− Vacancy

−$81.0K −$2.30/SF

EGI

$931.4K $26.50/SF

− OpEx

−$139.7K −$3.97/SF

NOI

$791.7K $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 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%

$15,834,480

Cap Rate 7%

$11,310,343

Cap Rate 9%

$8,796,933

Alternative Uses

Best Use

Warehouse

$11.31M

$9.90M – $13.20M (±1% cap)

NOI $791,724 @ 7.0% cap · market cap 6.75%

Second Best

Industrial

$9.40M

$8.22M – $10.96M (±1% cap)

NOI $657,678 @ 7.0% cap · market cap 5.61%

Theoretical Best

—

—

same as Best Use

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Office Units

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Cafe & Coffee Shop Locksmith Real Estate Agency Daycare Center Garden Center

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

Location Intelligence

Trade Area within ½ mile

656

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 08619, NJ

23,301

Population

9,761

Households

2.4

Avg Household Size

44

Median Age

46%

College-Educated

96%

High-School Grad

10.0 sq mi

ZIP Area

2,330

Density / Sq Mi

$104,922

Median Household Income

$56,772

Median Earnings

$1,712

Median Rent

$320,800

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Questions? Ask Rey

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

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Similar Off Market Nearby

• Self Storage facility — 2406 Nottingham Way, Hamilton Township, NJ 08619, United States
• Princeton Moving & Storage — Trenton, NJ 08619

Frequently Asked Questions

What type of property is this?

Warehouse - 35,154 SF industrial property with office and production space.

Where is this warehouse located?

The property is located at 3620 Quakerbridge Rd Hamilton Township, NJ.

What is the asking price?

The asking price for this property is $11,725,000.

What are key features of this property?

This property features: Investment Property with a 7 Year 6 Month Lease; 35,154 SF Building with 10,000 SF of Office/Production Space on 3.5 Acres; Convenient location with easy access to Route 1, I‑295, and the NJ Turnpike