100% Occupied Industrial Building with an additional 3 acres of land in Oakland, Bergen County, NJ
35,000 SF Industrial building occupied by 7 tenants at 45-53 Edison Avenue, this property also includes one acre of excess land that can be utilized for trailer parking and/or outside storage
2 acres of land located at 342 West Oakland Avenue that is primarily used for contractor parking currently, all tenants are on month-to-month leases; projected annual revenue is $240,000 per year for this land
Pro Forma Cap Rate 7.25%
Located 1-2 minutes away from Exit 57 of I-287, this property offers quick and easy accessibility
Industrial building has 30' clear ceiling heights and 10 Drive-In doors
Outstanding demographics with a population of 43,248 within a 3-mile radius and household income of $160,704 within a 3-mile radius
Strong upside is easily attained as majority of leases are month-to-month; current market rents are between $14.75 and $15.50 NNN
Scarcity of available land for trailer parking, outside storage and/or contractor parking presents some pricing power in this sub-market that we are conservatively estimating at $240,000 per annum.
Marcus & Millichap of New Jersey, LLC (“M&M”) has been hired
on an exclusive basis by Owner (the “Owner”) with respect to offering for
sale the 100%
fee simple interest in 45-53 Edison Ave, Oakland, NJ, USA (the “Property”). This
agreement (“Agreement”) is between M&M and the undersigned party
(“Buyer”) who is interested in reviewing the Offering Memorandum/financial
material to evaluate their interest in the acquisition of investment real
estate. All offers and purchase agreements for the Property from Buyer or
its affiliates shall be submitted through the Cafiero Team of M&M.
Buyer shall not contact Seller directly or act either directly, indirectly,
through any third parties including affiliates, clients, or other brokers
to circumvent the process of this Agreement or deprive M&M of its fees. M&M
may represent both Buyer and Seller. M&M may solicit, represent, and accept
offers for the Property from other potential Buyers without obligation to
1. The identity of the Property and related information is provided for
the sole purpose of having Buyer evaluate the purchase of the
Property for itself or its affiliates. Buyer and its affiliates shall
keep the identity, related information and discussion confidential,
and not reproduce, distribute or disclose such information to third
parties. M&M shall not be responsible for the accuracy or completeness
of the information provided, or for any loss or expense, whether direct
or indirect, arising from Buyer’s or its affiliate’s use and reliance
on the information.
2. Buyer hereby agrees to not use the contents of these materials in any
manner detrimental to the interest of the Owner. Following review
of the material, if Buyer no longer has any further interest or does not
wish to pursue further discussions leading to the sale of the subject
Property, upon request, Buyer shall return said material in its original
form to M&M. Any violation of this agreement shall be viewed as a
as this material is strictly confidential.
3. The undersigned principal or any company or entity in which the
undersigned principal has a controlling interest, including real estate
companies, shall not be paid any form of commission or fee by the Seller
or Marcus & Millichap for the purchase of the Property. Neither the
nor M&M shall be liable for any fee or commission due to any broker
claiming to represent the undersigned.
4. The Buyer hereby indemnifies and holds harmless M&M and the Owner and
their respective affiliates and successors and assigns against and from
liability or expense, including attorney’s fees, arising out of any
breach of any of the terms of this Agreement.
5. The Buyer acknowledges that the Property has been offered for sale
subject to withdrawal from the market, change in offering price, prior
sale or rejection
of any offer because of the terms thereof, lack of satisfactory credit
references of any prospective purchaser, or for any other reason
notice. The Purchaser acknowledges that the Property is being offered
without regard to race, creed, sex, religion, or national origin.
6. The Term of this Agreement is one year, which shall be automatically
extended through the closing of any purchase and sales transaction for
the Property entered
into by Buyer or its affiliates during the term thereof.
Buyer acknowledges that real estate brokers are not qualified experts
for legal, financial, accounting, environmental, construction, soils,
and geological or engineering advice.