207 Bakers Basin Rd Lawrence Township, NJ 08648
This exceptional investment opportunity presents a 6,700 square foot, single-tenant, absolute NNN leased industrial flex property located at 207 Bakers Basin Rd, Trenton, NJ 08648. The property, built in 1970 and renovated in 2023, sits on a 5.23-acre lot and is 100% occupied by SiteOne Landscape Supply under a lease with approximately 7.7 years remaining, expiring July 30, 2032. The lease commenced July 31, 2022, and includes three 5-year renewal options with 3% annual rent increases. The current annual net operating income (NOI) is $226,608, representing a 5.75% cap rate on the asking price of $3,941,009. The property boasts excellent visibility and access, situated on Bakers Basin Road (12,652 vehicles per day), near US-1 (59,897 VPD), and I-295 (77,036 VPD). Its location within the Princeton Pike Corridor, a major commercial area in Lawrence Township, Mercer County, within the Trenton-Princeton MSA (population 384,446), provides strong market fundamentals. The low site coverage ratio of 2.94% offers significant potential for future expansion or alternative uses, given the flexible zoning. The current rent of $3,610 per acre per month is significantly below market rates. This property offers a compelling combination of strong tenant, long-term lease, attractive cap rate, and significant upside potential.
A. Purpose. The Highway Commercial (HC) district is intended to serve both the residents of the municipality and the general public with uses typically ori ented towards motorized travel. The HC district is the primary retail zone for localized sales and services that are not regionally based. It differs from the NC-1 and NC-2 districts by including automobi…
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2022Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
HC · Lawrence Township, NJA. Purpose. The Highway Commercial (HC) district is intended to serve both the residents of the municipality and the general public with uses typically ori ented towards motorized travel. The HC district is the primary retail zone for localized sales and services that are not regionally based. It differs from the NC-1 and NC-2 districts by including automobile business uses and excluding residential uses, with the exceptio n of certain senior citizen housing. The Highway Commercial district is also intended to support the retail uses in the Regional Commercial district. B. Permitted Uses. In the HC district, no lot shall be used and n o structure shall be erected, altered or occupied for any purpose except the following: 1. Automobile sales through franchised new car dealers. 2. Automobile accessories and car washes. 3. Banks, including drive-in facilities. 4. Bars and taverns. 5. Convenience stores. 6. Department and discount stores. 7. Governmental uses. 8. Indoor recreational facilities. 9. Membership club bulk retail outlets. 10. Offices. 11. Retail sales of goods and services. 12. Restaurants, including fast food restaurants. 13. Shopping centers. 14. Theaters and entertainment. C. Accessory Uses Permitted. Any of the following accessory uses may be permitted when used in conjunction with a principal use: 1. Canopy for motor fuel equipment protection or passenger drop off. 2. Fences and walls. 3. Garages, storage buildings and tool sheds. 4. Off-street and structured parking. 5. Outdoor display of new and used motor vehicles only in associat ion with a franchised new car dealer. 6. Outdoor seating associated with a restaurant, complying with th e following standards: Land Use Ordinance Lawrence Township, Mercer County §420 136 a. Seating shall comply with the handicapped accessibility require ments of N.J.A.C. 5:23-7. b. No seating shall be located within 5 feet of any public or priv ate parking and shall be adequately protected from vehicular traffic. c. No glare from lighting for outdoor seating shall be created. d. No impediment to the free flow of pedestrian or vehicular traff ic shall be created by the outdoor seating. e. Off-street parking for outdoor seating shall be provided in accordance with
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
