Flex Space with
For Sale
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708 Ginesi Dr, Morganville, NJ 07751
Industrial flex property combining warehouse capacity, two-level office space, drive-in access, parking, and yard areas.
Property Size18,000 SF
Lot Size3.15 Acres
Price / SF$244.44
Days on Market138
Property Features for 708 Ginesi Dr
General Information
Standard status
Active
Size
18,000 SF
Lot size
3.15 Acres
Property subtype
Industrial
Warehouse & Industrial
Clear Height
24 ft
Warehouse Space
12,000 SF
Office Build-Out
6,000 SF
Drive-In Doors
4
Additional Details
Highway Access
Yes
Building Details
Buildings
1
Building Size
18,000 SF
Listing Agency:
Starker Commercial Realty LLC
Listed By:
Susan Taylor · License #NJ 0449027
Source:
Crexi
Added: Apr 16
Changed: Aug 31
Last Checked: Aug 31 at 2:09AM
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 Starker Commercial Realty LLC
Investment Insights
Based on property information with market context.
This 18,000 SF industrial flex building sits on 3.15 acres and combines approximately 12,000 SF of warehouse area with approximately 6,000 SF of office space arranged across two levels. The warehouse includes 20–24 ft clear ceilings and four drive-in doors, providing a functional configuration for distribution, light manufacturing, or service operations.
The property is located at 708 Ginesi Dr in Marlboro Township, NJ 07751, within Central NJ. On-site parking and yard space complement the building’s warehouse and office layout. The combination of industrial area, multi-level office space, clear height, and drive-in access supports a range of commercial operating requirements.
The property is located at 708 Ginesi Dr in Marlboro Township, NJ 07751, within Central NJ. On-site parking and yard space complement the building’s warehouse and office layout. The combination of industrial area, multi-level office space, clear height, and drive-in access supports a range of commercial operating requirements.
Key Highlights
- 18,000 SF industrial flex building on 3.15 acres
- Approximately 12,000 SF warehouse and approximately 6,000 SF office across 2 levels
- 20–24 ft clear warehouse ceilings
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
$295,256
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
6.71%
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%
$5,905,120
$5.9M
Cap Rate 7%
$4,217,943
$4.2M
Cap Rate 9%
$3,280,622
$3.3M
Market Conditions
NOI Build-Up for 18,000 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
$585.4K $32.52/SF
− Vacancy
−$131.1K −$7.28/SF
EGI
$454.2K $25.24/SF
− OpEx
−$159.0K −$8.83/SF
NOI
$295.3K $16.40/SF
Area
Monmouth County, NJ
Vacancy
22.40%
Lease Rate
$32.52 /SF/Yr
Expense Ratio
35.00%
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%
$5,905,120
Cap Rate 7%
$4,217,943
Cap Rate 9%
$3,280,622
Alternative Uses
Best Use
Flex RnD
$4.22M
$3.69M – $4.92M
NOI $295,256 @ 7.0% cap · market cap 6.71%
Second Best
Office B
$3.93M
$3.44M – $4.59M
NOI $275,400 @ 7.0% cap · market cap 6.26%
Theoretical Best
Office A
$4.70M
$4.11M – $5.48M
NOI $329,011 @ 7.0% cap · market cap 7.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
24 ft
Clear height
4
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
370
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 07751, NJ
21,493
Population
7,567
Households
2.8
Avg Household Size
42
Median Age
65%
College-Educated
96%
High-School Grad
16.6 sq mi
ZIP Area
1,295
Density / Sq Mi
$172,576
Median Household Income
$86,544
Median Earnings
$2,636
Median Rent
$663,100
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Industrial flex property combining warehouse capacity, two-level office space, drive-in access, parking, and yard areas.
Where is this flex space located?
The property is located at 708 Ginesi Dr Morganville, NJ.
What is the asking price?
The asking price for this property is $4,400,000.
What are key features of this property?
This property features: 18,000 SF industrial flex building on 3.15 acres; Approximately 12,000 SF warehouse and approximately 6,000 SF office across 2 levels; 20–24 ft clear warehouse ceilings
