6 Terri LnBurlington Township, NJ 08016

Property Details for 6 Terri Ln

Year built

1989

Lot size

7.19 AC

Property size (Sq ft)

5,806 SF

Zone code

I-1

Property type

Office properties

Property subtype

Office buildings

APN

06 00120- 02-00007

APU

6001200200007

Description

This exceptional 58,000-square-foot industrial flex building, located at 6 Terri Lane in Burlington Township, New Jersey, presents a compelling value-add investment opportunity. The property, built in 2014 and renovated in 2024, sits on a 7.2-acre lot and boasts a Class B rating. Currently vacant, the single-story building offers 215 parking spaces and four loading docks, making it ideal for a variety of uses. The high ceilings, measuring 21 feet, provide ample vertical space. The interior features brick walls and steel supports, built for durability. Most interior walls have been removed, creating a flexible layout, with the exception of a 3,200-square-foot office area. The property is zoned Industrial I-1 and benefits from an excellent location, just half a mile from the NJ Turnpike and Route 295, providing easy access to major transportation arteries. The asking price is $8,500,000, translating to $146.55 per square foot. The property is offered "as is" with a NNN lease type. The 2024 property taxes are $138,000. The owner is also open to leasing the building at a net rate of $10 per square foot. The building's strategic location is further enhanced by the recent completion of a 2 million-square-foot industrial building directly across the street, highlighting the area's strong demand. This presents a rare chance to acquire a well-situated, sizable industrial flex space in a thriving market.

• CAP approach

  CAP return

  Valuation

  6%

  $1,434,317

  6.5%

  $1,323,985

  7%

  $1,229,415

• Comparable approach

  Method

  Valuation

  Relative Method

  $758,612

  Geo Method

  $758,612

• Alternative Use

  Use

  Valuation

  Residential

  $1,641,742

  Hospitality

  $1,503,826

  Educational

  $1,251,166

  Medical

  $1,294,195

  Retail

  $1,946,258

Location Insight

City

Burlington

County

Burlington

State

New Jersey

Latitude

40.0418

Longitude

-74.8334

CBSA code

37980

CBSA name

PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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