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45 – 53 Edison Avenue & 342 West Oakland Avenue + 3 Acres Outside Storage - 45-53 Edison Ave, Oakland, NJ

Property Details

  • Price :

  • Square Feet :

  • Cap Rate :

  • $14,250,000

  • 35,000

  • 7.25%

  • NOI :

  • Acres :

  • $613,883

  • 5.41

  • Property Type :

  • Property Status :

  • Industrial

  • Available

Investment Highlights

  • 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. 

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