Flex Warehouse with Attached
For Sale
$150,000
Pending
771 Watsontown Rd, Berlin, NJ 08009
Versatile flex warehouse with a spacious garage and attached office on an open lot with room for parking.
Property Size500 SF
Days on Market406
Property Features for 771 Watsontown Rd
General Information
Standard status
Pending
Size
500 SF
Total Parking Spaces
100
Taxes and HOA fees
Annual Taxes
$2,789
Amenities
Window Unit(s)
Building Details
Building Size
500 SF
Year Built
1978
Listing Agency:
Weichert Realtors-Haddonfield
Listed By:
Michael Chuppe
(609) 352-7294
Source:
Evrealestate
Added: Jul 27, 2025
Changed: Sep 4
Last Checked: Sep 5 at 6:00AM
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 Weichert Realtors-Haddonfield
Investment Insights
Based on property information with market context.
This versatile flex warehouse was formerly the site of a trucking company and includes a spacious garage suited for automotive, storage, or light industrial use. An attached office space supports day-to-day operations, and the property sits on an open lot that provides room for parking and potential future expansion.
Located in Winslow Township near the border of Berlin Borough and the Pine Valley Airport, the site is positioned for straightforward access and visibility.
An adjoining residential property at 773 Watsontown Rd is also available for sale, offering an option to combine work and living space or expand ownership as part of a larger portfolio.
Located in Winslow Township near the border of Berlin Borough and the Pine Valley Airport, the site is positioned for straightforward access and visibility.
An adjoining residential property at 773 Watsontown Rd is also available for sale, offering an option to combine work and living space or expand ownership as part of a larger portfolio.
Key Highlights
- Versatile commercial property in Winslow Township, formerly used as a trucking company site
- Spacious garage suited for automotive, storage, or light industrial use
- Attached office space for daily business operations
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
$4,872
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
3.25%
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%
$97,440
$97.4K
Cap Rate 7%
$69,600
$69.6K
Cap Rate 9%
$54,133
$54.1K
Market Conditions
NOI Build-Up for 500 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
$7.5K $15.00/SF
− Vacancy
−$540 −$1.08/SF
EGI
$7.0K $13.92/SF
− OpEx
−$2.1K −$4.18/SF
NOI
$4.9K $9.74/SF
Area
Camden County, NJ
Vacancy
7.20%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$97,440
Cap Rate 7%
$69,600
Cap Rate 9%
$54,133
Alternative Uses
Best Use
Industrial
$69.6K
$60.9K – $81.2K
NOI $4,872 @ 7.0% cap · market cap 3.25%
Second Best
Flex RnD
$64.0K
$56.0K – $74.7K
NOI $4,483 @ 7.0% cap · market cap 2.99%
Theoretical Best
Office A
$126.8K
$110.9K – $147.9K
NOI $8,874 @ 7.0% cap · market cap 5.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
66
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 08009, NJ
13,885
Population
5,764
Households
2.4
Avg Household Size
43
Median Age
31%
College-Educated
94%
High-School Grad
16.5 sq mi
ZIP Area
842
Density / Sq Mi
$101,964
Median Household Income
$52,767
Median Earnings
$1,392
Median Rent
$291,500
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Versatile flex warehouse with a spacious garage and attached office on an open lot with room for parking.
Where is this flex space located?
The property is located at 771 Watsontown Rd Berlin, NJ.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: Versatile commercial property in Winslow Township, formerly used as a trucking company site; Spacious garage suited for automotive, storage, or light industrial use; Attached office space for daily business operations
