35 Technology Dr Warren, NJ 07059
- Warehouses
- 107,483 SF
- 6.68 lot acres
Current Use by Public Records
- Medical Device Imagineering / Medical Equipment Supplier
- Bio Array Solutions Ltd / Laboratory
Property Details for 35 Technology Dr
- Lot size
- 6.68 lot acres
- Property size
- 107,483 SF
- Property type
- Warehouses
- Property subtype
- Office Properties & Spaces
Description
This exceptional value-add investment opportunity presents a 107,483 square foot, two-story Class B office building situated on a 6.68-acre lot in Warren, New Jersey. The property, located at 35 Technology Drive, is currently 44% occupied by two tenants under a modified lease structure. The building features an elevator and a loading dock, catering to diverse business needs. Its strategic location offers easy access to major highways including I-78 and I-278, as well as US-22, enhancing its appeal and accessibility. The property is zoned G-I General Industrial, providing significant flexibility for future uses. With a current cap rate of 9.00% and an asking price of $8,900,000, this bank-owned foreclosure presents a compelling return on investment. The assessed value is $9,500,000, and annual property taxes are $174,610. The building's diverse functionality, encompassing medical office, traditional office, and warehouse subtypes, makes it an attractive proposition for a wide range of investors and potential tenants. This single-building, multi-tenant property offers a unique chance to capitalize on a strong market position and significant upside potential. The property includes one loading dock.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Warren
- County
- Somerset
- State
- New Jersey
- Longitude
- -74.5077
- Latitude
- 40.6312
