Versatile Office Building on Corner
666 Madison Ave, Burlington, NJ 08016
For Sale
$449,900
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 Market940
Property Features for 666 Madison Ave
General Information
Standard status
Size
Lot size
Property subtype
Taxes and HOA fees
Annual Taxes
Building Details
Year Built
Listing Agency:
TWINS ASSOCIATES, LLC
(609) 526-4273
Listed By:
MURAT SENGUL · License #0447447
(856) 313-2390
Source:
Corcoran
Added: Apr 14, 2024
Changed: Oct 31
Last Checked: Nov 8 at 5:09AM
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
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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 / Yr
$24,671
Cap Rate
5.48%
Suggested Prices Based on Cap Rates
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
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 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
Retail
$587.5K
$514.1K – $685.4K
NOI $41,124 @ 7.0% cap · market cap 9.14%
Zoning and permitted uses should be independently verified with authorities.
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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
$308,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Office buildings in Burlington County, NJ
Properties on Market for Office buildings in Burlington County
Vacancy Rate% for Office in Northeast region
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
