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Property profile & analytics
OFF-MARKET
Estimated value
$4,430,000
Warehouses
107 Elbow Ln Burlington, NJ 08016-4123
Entity Owned
12-yr Hold
Absentee Owner
Free & Clear
Property ID
US59-2433856
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2021
Total area
266,966 SF
Lot
39.9 ac (1,738,044 SF)
Zoning code
I-1
APN
06 00123-0000-00004- 04
UPID
US59-2433856
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Medline Warehouse & Storage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.43M
Owner & transaction history
Drexel Realty LLC · 12 yrs held
Drexel Realty LLC
since 2013
7 recorded transactions
Zoning & alternative use
I-1 · Burlington, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
§ 207-80 W-1 Waterfront District. § 207-81 HC-1 Highway Corridor District. § 207-81.1 Highway Corridor Overlay-1 (HCO-1) District. § 207-82 HC-2 Highway Corridor District. § 207-83 IP Industrial Park District. § 207-84 I-1 Industrial District and IP Industrial Park District. § 207-84.1 Outdoor displays. § 207-85 Parking and loading. § 207-86 Performance stan…
Zone name
Industrial Districts
General category
INDUSTRIAL
Zone area
138.78 ac
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Burlington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Burlington submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$17 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$457,526
Tax year 2022
Assessed value
$15,384,200
Assessed 2023
Previous assessed
$15,384,200
+0.0% YoY
Effective rate
2.97%
On assessed value
Assessed land
$2,100,000
Assessed improvement
$13,284,200
Land market value
$2,100,000
Improvement market value
$13,284,200
Total market value
$15,384,200
Applied tax rate
6.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2021
Heating
NONE
Total area
266,966 SF
Lot
39.9 ac (1,738,044 SF)
Zoning code
I-1
APN
06 00123-0000-00004- 04
UPID
US59-2433856
Jurisdiction
BURLINGTON
Metro division
CAMDEN, NJ METROPOLITAN DIVISION
Zoning & alternative use
I-1 · Burlington, NJZoning I-1 · permitted uses
I-1 · Burlington, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
§ 207-80 W-1 Waterfront District. § 207-81 HC-1 Highway Corridor District. § 207-81.1 Highway Corridor Overlay-1 (HCO-1) District. § 207-82 HC-2 Highway Corridor District. § 207-83 IP Industrial Park District. § 207-84 I-1 Industrial District and IP Industrial Park District. § 207-84.1 Outdoor displays. § 207-85 Parking and loading. § 207-86 Performance standards for industrial districts. § 207-87 Buffer and landscaping requirements. § 20
Zone name
Industrial Districts
General category
INDUSTRIAL
Zone area
138.78 ac
Building & site characteristics
From public records
Year built
2021
Heating
NONE
Lot
39.9 ac
Current owner
From public records · entity-resolved
Drexel Realty LLC
Entity
Free & Clear · 12 yrs held
Mailing address
1717 ARCH ST STE #3820, PHILADELPHIA, PA 19103-2761
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 20, 2022
—
Elbow Lane Industrial Properties Ll
—
Deed
related
$130,300,000 · Foretthought Life Insurance Company
Sep 30, 2013
—
Drexel Realty LLC
Hovbros Burlington LLC
Grant Deed
related
—
Dec 5, 2011
—
Hovbros Burlington LLC
—
Loan Modification
related
$6,000,000 · Td Bk NA
—
—
Hovbros Burlington LLC
—
Deed Of Trust
related
$7,341,792 · Wells Fargo Bk
—
—
Hovbros Burlington LLC
—
Deed Of Trust
related
$1,500,000 · Td Bk NA
—
—
Drexel Realty LLC
—
Deed Of Trust
related
$1,100,000 · Investors Bk
—
—
Hovbros Burlington LLC
—
Deed Of Trust
related
$10,131,779 · Wells Fargo Bk
—
—
Hovbros Burlington LLC
—
Loan Modification
related
$3,500,000 · Td Bk NA
—
—
Hovbros Burlington LLC
—
Deed Of Trust
related
$14,742,609 · Wells Fargo Bk
—
—
Hovbros Burlington LLC
—
Deed Of Trust
related
$1,000,000 · Td Bk NA
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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