35 Technology DrWarren, NJ 07059

Property Details for 35 Technology Dr

Lot size

6.68 AC

Property size (Sq ft)

107,483 SF

Property type

Warehouses

Property subtype

Office properties

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.

Location Insight

City

Warren

County

Somerset

State

New Jersey

Latitude

40.6312

Longitude

-74.5077

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