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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2028 Briggs Rd, Unit 2034 Mount Laurel, NJ 08054-4607

    • Office buildings
    • 1,762 SF
    • 9.40 lot acres
    OFF-MARKET
    Last Sale
    Mar 21, 2022
    $600,000
    Value Estimations
    $585,000
    Show details
    Cap Rate Potential
    2.8%
    Office buildings
    Location Intelligence
    Property ID
    US59-1400585
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Office buildings

    Property Details for 2028 Briggs Rd

    Year built
    1972
    Lot size
    9.40 lot acres
    Property size
    1,762 SF
    Property type
    Office buildings
    APN
    24 00304-0000-00009
    APU
    2400304000000009

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $610,000
      ML approach
      $620,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $494,000
      Market price range: $215k - $494k
      AI Estimate
      $470,000
      Market price range: $163k - $470k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Mount Laurel
    County
    Burlington
    State
    New Jersey
    Longitude
    -74.8956
    Latitude
    39.9676
    CBSA code
    37980
    CBSA name
    PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $34,471
    $500,000
    $100,000
    $600,000
    -
    $500,000
    $100,000
    $600,000

    Comparable in this City

    • Value Estimation
      $440,000
      2,007 SF

      3221 Rte 38

      OFFICE BUILDING • 2,007 SF
      3221 Rte 38, Mount Laurel, NJ 08054-9765
      View Details
    • Value Estimation
      $320,000
      0.46 Acres

      101 Chestnut Ave

      OFFICE BUILDING • 0.46 Acres
      101 Chestnut Ave, Mount Laurel, NJ 08054-9405
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    • Value Estimation by Request
      16.78 Acres

      6000 Atrium Way

      OFFICE BUILDING • 16.78 Acres
      6000 Atrium Way, Mount Laurel, NJ 08054-3918
      View Details
    • Value Estimation by Request
      6.21 Acres

      1025 Briggs Rd

      OFFICE BUILDING • 6.21 Acres
      1025 Briggs Rd, Mount Laurel, NJ 08054-4103
      View Details
    • Value Estimation
      $455,000
      1,427 SF

      4514 Church Rd

      OFFICE BUILDING • 1,427 SF
      4514 Church Rd, Mount Laurel, NJ 08054-2210
      View Details
    • Value Estimation
      $320,000
      2,161 SF

      105 Fairway Ter

      OFFICE BUILDING • 2,161 SF
      105 Fairway Ter, Mount Laurel, NJ 08054-2321
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      115,733 SF

      Mount Laurel Flex Investment Portfolio

      Eight-building portfolio with flex and office space in Mount Laurel.
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      View Details
    • New
      $1,200,000
      1.02 Acres

      Route 38 Professional Office Building

      Eight-suite office building with high visibility and easy highway access.
      3201 Route 38, Mount Laurel, NJ 08054
      View Details
    • Contact for pricing
      20,600 SF

      Mount Laurel Office Building

      Professional/medical office building for sale or lease in Mount Laurel.
      813 E Gate Dr, Mount Laurel, NJ 08054
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    • $1,150,000
      8,000 SF

      Route 38 Office Building Investment

      8-Suite Office Building, High Visibility
      3201 Rte 38, Mount Laurel Township, NJ 08054
      View Details
    • Contact for pricing
      8.50 Acres

      Fellowship Road Commercial Property

      8.5-Acre Commercial Land, 2,000 SF Building
      538 Fellowship Rd, Mount Laurel Township, NJ 08054
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    • Contact for pricing
      44,721 SF

      Mount Laurel Industrial Warehouse

      44,721 SF Warehouse, Excellent Location
      2035 Briggs Rd, Mount Laurel Township, NJ 08054
      View Details

    Similar Nearby for Lease

    • $22 SF/Yr
      11,000 SF

      Class A Office Building

      Three-story office building on heavily traveled Route 38.
      3221 Route 38, Mount Laurel, NJ 08054
      View Details
    • Contact for pricing
      8,101 SF

      Mount Laurel Office Space Available

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      815 E Gate Dr, Mount Laurel, NJ 08054
      View Details
    • Contact for pricing
      11,316 SF

      Mount Laurel Office Space Available

      Office building with excellent access and visibility on Route 73.
      1200 Howard Blvd, Mount Laurel, NJ 08054
      View Details
    • Contact for pricing
      8,650 SF

      Class A Office Space Available

      Premier office space in East Gate Corporate Center.
      701 E Gate Dr, Mount Laurel, NJ 08054
      View Details
    • Contact for pricing
      39,445 SF

      Class A Office in Mount Laurel

      Class A office space in Horizon Corporate Center for lease.
      Horizon Corporate Ctr, Mount Laurel, NJ 08054
      View Details
    • Contact for pricing
      67,885 SF

      Class A Office Space Available

      Up to 10,000 SF available in Class A office building.
      501 Fellowship Rd, Mount Laurel, NJ 08054
      View Details
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    Mount Laurel, NJ 08054-4607
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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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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