1193 River RdEast Windsor, NJ 08512
- Industrial properties
- 3.20 AC
Property Details for 1193 River Rd
- Construction
- BRICK
- Lot size
- 3.20 AC
- Zone code
- I-3
- Property type
- Industrial properties
- APN
- 21 00007- 01-00010- 01
- APU
- 2100007010001001
Description
This exceptional 28,800-square-foot industrial warehouse, situated on a 3.31-acre lot in East Windsor, New Jersey (08512), presents a compelling owner-user or investment opportunity. The single-story, Class B building boasts 13-14 foot clear ceilings and two exterior loading docks, complemented by 25 surface parking spaces. Currently vacant, this masonry structure, built in the early 20th century, offers significant potential. Zoned I-3, the property features a building floor area ratio (FAR) of 0.20 and has already secured approvals and entitlements for a substantial 20,000-square-foot expansion, potentially increasing the total square footage to 48,800. The asking price is $7,920,000, representing a price per square foot of $275 and a pro-forma cap rate of 6.00%, with a pro-forma net operating income (NOI) of $475,200. The property's strategic location provides convenient access to major transportation routes, enhancing its appeal to both owner-users and investors. This is a rare opportunity to acquire a well-located industrial property with significant expansion potential in a thriving market. The property's address is 1193 S River Rd, South Brunswick Township, Middlesex County, NJ. The APN is 1221-7.01-10.01. The lease type is NNN.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $51,421,200
- 6.5%
- $47,465,700
- 7%
- $44,075,300
-
Comparable approach
- Method
- Valuation
- Relative Method
- $29,140,700
- Geo Method
- $29,140,700
-
Alternative Use
- Use
- Valuation
- Retail / Commercial
- $24,340,200
- Mixed-Use / Specialty
- $24,253,400
- Hospitality / Lodging
- $17,793,900
- Office
- $24,109,300
- Institutional / Educational
- $25,213,800
- Residential Income
- $29,500,100
- Multifamily
- $35,380,800
- Automotive / Energy
- $21,611,800
- Parking / Income-Based Land
- $7,457,960
- Restaurant / Food Service
- $12,614,400
- Healthcare / Senior Housing
- $24,871,400
Location Insight
- City
- Cranbury
- County
- Middlesex
- State
- New Jersey
- Latitude
- 40.3442
- Longitude
- -74.4837
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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