1045 Limecrest RdLafayette, NJ 07848

Property Details for 1045 Limecrest Rd

Construction

FRAME

Lot size

85.39 AC

Zone code

I

Property type

Commercial real estate

APN

02 00108-0000-00004- 02

APU

20010800000000402

Description

This exceptional 85-acre industrial land parcel in Lafayette, New Jersey (Sussex County, zip code 07848) presents a significant development opportunity within the Rt 206 Redevelopment Zone. The site, located at 1045 Limecrest Rd, has already undergone significant preparation, including clearing, grading, and site work, making it ready for immediate construction. A nearly completed 52,000 square foot steel building (90% complete, constructed in 2020) is currently on-site. Preliminary township approvals for a 600,000 square foot warehouse (60-foot clear height) have been received, and prior wetland permits and environmental studies are complete. Conceptual designs include a single, up to 500,000 square foot building, which would necessitate the removal or relocation of the existing structure. Built-to-suit options are available for various sizes and configurations. The property offers county road access and the potential for a rail spur extension from an existing rail line along the northeast property boundary. This location benefits from strong demographics and proximity to major transportation arteries, making it an attractive investment in a thriving market. The property is currently vacant and available for lease under a NNN lease structure. The total square footage is flexible, ranging from 250,000 to 600,000 square feet, accommodating a variety of industrial uses, including warehouse, manufacturing, and refrigerated/cold storage.

• CAP approach

  CAP return

  Valuation

  6%

  $1,047,200,000

  6.5%

  $966,650,000

  7%

  $897,603,000

• Comparable approach

  Method

  Valuation

  Relative Method

  $489,268,000

  Geo Method

  $486,001,000

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $1,929,740,000

  Retail / Commercial

  $984,348,000

  Mixed-Use / Specialty

  $976,731,000

  Hospitality / Lodging

  $711,248,000

  Office

  $966,650,000

  Institutional / Educational

  $1,013,940,000

  Residential Income

  $1,186,310,000

  Multifamily

  $1,445,570,000

  Automotive / Energy

  $869,090,000

  Parking / Income-Based Land

  $303,971,000

  Restaurant / Food Service

  $499,239,000

  Healthcare / Senior Housing

  $1,005,830,000

Location Insight

City

Lafayette

County

Sussex

State

New Jersey

Latitude

41.0511

Longitude

-74.6915

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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