209 Adams St - Warehouse FOR SALE
Riverside, NJ 08075 |
$1,265,000 USD
215-618-2025
209 Adams St
Riverside, NJ 08075
HIGHLIGHTS
- The in-place NOI is only $81,302 or $7.12/SF. Market asking rents are in excess of $12/ft for comparable properties.
- All tenants in the warehouse portion of the property are on month-to-month leases, and some small offices can be leased.
- The warehouse portion is +/-8,700 SF across 7 units with a total of 10 roll-up doors; The +/-2,726 SF office building can be easily subdivided.
- This property has a NJ Motor Vehicle Installment Seller License, which is very challenging to attain; It is held by NJ Motor Group.
- Property is priced at only $110/SF - a significant discount to the cost of replacing the building, paving, and fencing.
- Units are small, ranging from 600 to 2,500 SF; These are easier to lease and are maintaining historically low vacancy rates.
OVERVIEW
Sands Investment Group is pleased to exclusively list for sale this Small Bay Industrial property in Riverside, NJ. The offering includes two buildings totaling 11,426 SF across 11 units. 8 of the units are currently leased, and there are multiple opportunities to add significant value to this property.
In Cooperation With Sands Investment Group New Jersey, LLC - Lic. #2187470 BoR: Tom Gorman - Lic. NJ #2187471
FOR SALE DETAILS
PRICE
$1,265,000 USD
PRICE/SF
$111 USD /SF
CAP RATE
6.43%
% LEASED
-
TENANCY
Single
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Small Bay Contractor Storage
PROPERTY TYPE
Industrial
PROPERTY SUBTYPE
Warehouse
ADD'L SUBTYPES
Distribution
TOTAL BUILDING SIZE
-
STORIES
1
YEAR BUILT
1950
UTILITIES
Lighting - Incandescent, Gas - Natural, Water - City, Sewer - City, Heating - Gas
CLEAR CEILING HT
-
DOCKS
-
DRIVE INS
-
PARKING SPACES
10
LAND DETAILS
LAND ACRES
1.02
LAND SF
44,431
ZONING
I-2
APN/PARCEL ID
30-00502-0000-00012
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215-618-2025
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215-618-2025
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