This exceptional multi-tenant industrial property, located in Trenton's Urban Enterprise Zone, offers a diverse range of warehouse and office spaces immediately available for lease. The property comprises five buildings totaling 450,000 square feet, with a minimum divisible space of 7,000 square feet and a maximum contiguous space of 57,000 square feet. Currently, 164,679 square feet are vacant, presenting a significant opportunity for businesses seeking flexible and adaptable space. Building features include 22-foot ceiling heights, ample loading docks (5 total), and extensive on-site parking (1,395 spaces) within a fenced area. Specific available spaces include a 12,972 square foot first-floor office and a 15,000 square foot second-floor office in Building 3-A; a 40,000 square foot warehouse with 20-foot clear height and 4 loading docks in Building 36, along with 12,000 square feet of adjacent office space; and 29,000 square feet of contiguous warehouse/office/flex space in Buildings 6 and 7. The property benefits from on-site management, 24-hour maintenance, fiber optic availability, public water and sewer, and comprehensive fire protection. Its strategic location offers easy access to major transportation arteries, including Route 129, I-195, I-295, the New Jersey Turnpike (10 minutes to exit 7A), US-1, and Routes 29 and 206. Furthermore, it enjoys proximity to downtown Trenton (5-minute walk), the Riverline light rail (5-minute walk), bus lines (0.3 miles), and the Northeast Corridor train line (1 mile). The Urban Enterprise Zone designation provides access to economic incentives. This property is a Class C building constructed in 2000, featuring two stories across five buildings.
Property Features for 171 Jersey St
General Information
Property type
Distribution properties
Lease Type
Gross Lease
RSF (Rentable sq. ft)
450,000 SF
Class
C
Total Rate
506250
Building Details
Year Built
2000
Buildings
5
Stories
2
Unit(s) available at that property
Space
Building 6 & 7
Size
29,000 SF
Rate per SF
$13
Space
Building 3-A, 1st floor
Size
12,972 SF
Rate per SF
$20
Space
Building 36
Size
12,000 SF
Rate per SF
$20
Space
Building 3-A, 2nd Floor
Size
15,000 SF
Rate per SF
$20
Space
Building 36
Size
40,000 SF
Rate per SF
$13
HighLights
450,000 SF multi‑tenant warehouse/distribution facility.
7,000 SF minimum divisible space; up to 57,000 SF contiguous space available.
164,679 SF currently vacant.
Class C property, built in 2000, featuring five buildings with two stories each and 22' ceiling heights.
Ample parking with 1,395 spaces and 5 loading docks.
Located in Trenton, Mercer County, NJ, within an Urban Enterprise Zone, offering economic incentives.
State Parole BoardProbation OfficeNursing Home Administration ...State Government OfficeAll States Industrial ...Forklift DealerVeterans of Foreign WarsNon-Profit OrganizationVna Home Care ...Nursing Agency
Distribution property - Multiple Suites, 7,000-57,000 SF Available
Where is this distribution property located?
The property is located at 171 Jersey St Trenton, NJ.
What is the lease rate?
The lease rate is $13-$20 SF/Yr.
What are key features of this property?
This property features: 450,000 SF multi-tenant warehouse/distribution facility.; 7,000 SF minimum divisible space; up to 57,000 SF contiguous space available.; 164,679 SF currently vacant.
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171 Jersey St Trenton, NJ 08611
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Realmo Value Estimations
Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods.
Disclaimer
These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.
AI approach
Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.
Realmo CapRate Calculation
Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.
How We Calculate Cap Rate
Cap Rate Formula: Cap Rate (%) = (Net Operating Income / Property Value) × 100
Net Operating Income (NOI) Formula: NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)
Components
Net Operating Income (NOI) represents the annual income a property generates after operating expenses:
Area: Building square footage from property records
Lease Rate: Annual $/sqft based on market data for the property type and geographic location
Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
Operating Expense Ratio: Operating costs as a percentage of income, varies by property type
Property Value is derived from:
Recent sale price (if available)
Statistical models using comparable sales
AI-powered valuation estimates
Example Calculation
For a 100,000 sqft Office Building:
Lease Rate: $25.00/sqft/year (market data for Office in this area)
Vacancy Rate: 8% (market data for Office in this area)
Operating Expense Ratio: 35% (typical for Office properties)
Property Value: $15,000,000
Step 1: Calculate NOI
NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35) NOI = 100,000 × $25.00 × 0.92 × 0.65 NOI = $1,495,000/year
Step 2: Calculate Cap Rate
Cap Rate = ($1,495,000 / $15,000,000) × 100 Cap Rate = 9.97%
Property Type Considerations
Net Operating Income calculations vary by property type due to different operating expense ratios:
Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
Retail: Moderate expenses (25-35%) for common area maintenance
Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
Multifamily: Moderate expenses (35-45%) including property management
Self-Storage: Lower expenses (25-35%) due to minimal maintenance
Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.
Disclaimer
These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.
Cap Rate calculations depend on market data that may change over time
Actual operating expenses, lease rates, and vacancy rates may differ from market averages
Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
Property value estimates are approximations and not official appraisals
Cap rates vary widely by market, property condition, and investment risk profile
Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.
Cap approach
Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.
Comparable approach
Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.
Relative
Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.
Geo
Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels
across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.
Alternative use
Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.
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171 Jersey St Trenton, NJ 08611
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171 Jersey St, Trenton, NJ
Jerry Fennelly
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171 Jersey St, Trenton, NJ
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Jerry Fennelly
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