1-11 Market St - Manufacturing FOR SALE


Passaic, NJ 07055
$25,455,420 USD
201-742-6135
1-11 Market St, Passaic, NJ for Sale
$25,455,420 USD
Manufacturing - FOR SALE
1/6
null | 5% Cap Rate

1-11 Market St
Passaic, NJ 07055


HIGHLIGHTS

  • Equipped with docks, the facility supports efficient loading and unloading operations
  • The 16'-35' clear height enhances storage capacity for larger inventory and equipment.
  • A typical floor of 50,000 SF, the building is designed to accommodate various industrial needs
  • The expansive layout allows for flexible tenant configurations and efficient workflow within each level.
  • The building features single tenancy, providing businesses with exclusive use of the entire property
  • It is not owner-occupied, offering the flexibility of lease arrangements for potential tenants.

OVERVIEW

The Geller Group of Marcus & Millichap Real Estate Investment Services has been exclusively retained by the seller to present the opportunity to acquire 1-11 Market Street (The Subject Property) to qualified investors. The 325,030 Gross SF multi story industrial building is in Passaic, New Jersey's Route 3/GSP submarket. The Portfolio is 100% leased to a full building 3PL tenant with a lease term remaining of 5.9 years. The constrained Passaic market is experiencing 4.3% vacancy for industrial product with limited planned competitive construction. Given lack of supply and its true infill location, investors will benefit from asset appreciation and leasing income. The Property's infill location falls between Route 21, 17 & 46, as well as, the North/South Interstate I-80 & I-95 interchange. Its location provides immediate access to the tri-state area population as well as national connectivity through I-95. The Route 3/GSP submarket provides a deep and diverse set of labor supporting the multiple industries in the area. This infill, highly functional light industrial building includes 16-35' foot clear heights, 10 loading dock's, 1 Drive-in, 13 Bathrooms and 3 Freight Elevators. Each story is on average +/-50,000 SF which includes a 1st floor +/-10,030 SF Mezz level, a 3rd floor +/-15,000 SF Mezz and a +/-50,000 SF 9.6' foot clear basement for a total of +/-325,000 SF complimented by +/-40 surface parking spaces in front of the building. The property’s location allows employees immediate access to many amenities, retail and restaurant options, and ease of access from anywhere in the Passaic, NJ MSA

FOR SALE DETAILS

PRICE

$25,455,420 USD

PRICE/SF

$102 USD /SF

CAP RATE

5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Manufacturing

TOTAL BUILDING SIZE

-

STORIES

5

YEAR BUILT

1925

UTILITIES

-

CLEAR CEILING HT

35 Ft

DOCKS

10

DRIVE INS

1

PARKING SPACES

40

LAND DETAILS

LAND ACRES

4.86

LAND SF

211,702

ZONING

M-2

APN/PARCEL ID

07-01030-01-00053,07-01036-0000-00082

ASK ABOUT THIS PROPERTY

Shane SullivanMarcus & MillichapMore Info
201-742-6135

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Shane SullivanMarcus & MillichapMore Info
201-742-6135

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.