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Income-Generating Multi-Tenant Flex Warehouse 160 Belmont Ave 23,750 SF 100% Leased Industrial Building Online Auction Sale Garfield, NJ 07026
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Investment Highlights
- 160 Belmont Avenue is a two-story, 23,750-square-foot flex warehouse located off the Passaic River, constructed in 1965 and renovated in 2013.
- Passive flex warehouse with three tenants on a 2027 to 2029 rollover with 3% to 5% built-in annual escalations.
- Port of Newark Container Terminal, the nearest freight port, is about 20 miles south via Interstate 95, supporting large-scale delivery logistics.
- Directly in front of rail line access, less than 25 miles from Newark Liberty and LaGuardia Airport, with convenient access to I-80 and I-95.
- Features include 13’ to 16’ warehouse clear heights, two drive-ins, two dock-high doors, storage space, and a mezzanine level.
Executive Summary
As the exclusive advisor, Nexus Realty Advisors has been retained by ownership to offer the hands-off flex warehouse investment opportunity at 160 Belmont Avenue in Garfield, New Jersey, to the market.
A 23,750-square-foot flex warehouse improves the 0.43-acre parcel fronting rail access, currently 100% occupied by regional tenants. Each tenant has in-place escalations through their lease term, ranging from 2027 to 2029. Net operating income exceeds $260,000 annually, making this a stabilized asset with future upside and additional leasing momentum to tap into.
The building includes a front-loading station, storage space, drive-ins, dock-high doors, a mezzanine level, and over 25 surface parking spaces. The second story is window-lined to bring plenty of natural light into the office space, while the warehouse boasts high ceilings.
160 Belmont Avenue is situated in Garfield, New Jersey, a neighboring suburb of New York City, with a 10-mile population of 2,893,201. The subject building is located close to Newark and LaGuardia Airports, with an abundance of public transportation options, as well as restaurants, dining, hotels, and parks. Route 3 and Interstates 95 and 80 are major transportation corridors serving the Northern New Jersey Market.
A 23,750-square-foot flex warehouse improves the 0.43-acre parcel fronting rail access, currently 100% occupied by regional tenants. Each tenant has in-place escalations through their lease term, ranging from 2027 to 2029. Net operating income exceeds $260,000 annually, making this a stabilized asset with future upside and additional leasing momentum to tap into.
The building includes a front-loading station, storage space, drive-ins, dock-high doors, a mezzanine level, and over 25 surface parking spaces. The second story is window-lined to bring plenty of natural light into the office space, while the warehouse boasts high ceilings.
160 Belmont Avenue is situated in Garfield, New Jersey, a neighboring suburb of New York City, with a 10-mile population of 2,893,201. The subject building is located close to Newark and LaGuardia Airports, with an abundance of public transportation options, as well as restaurants, dining, hotels, and parks. Route 3 and Interstates 95 and 80 are major transportation corridors serving the Northern New Jersey Market.
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Offering Memorandum Click Here to Access
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
Market Analytics Click Here to Access
Property Facts
| Sale Type | Investment | No. Stories | 2 |
| Sale Condition | Auction Sale | Year Built/Renovated | 1965/2013 |
| Type of Ownership | Fee Simple | Parking Ratio | 1.12/1,000 SF |
| Property Type | Industrial | Clear Ceiling Height | 13’ |
| Property Subtype | Manufacturing | No. Dock-High Doors/Loading | 2 |
| Building Class | C | No. Drive In / Grade-Level Doors | 2 |
| Lot Size | 0.43 AC | Parcel Number | 21-00088-02-00037 |
| Rentable Building Area | 23,750 SF | ||
| Zoning | LI - Light Industrial | ||
| Sale Type | Investment |
| Sale Condition | Auction Sale |
| Type of Ownership | Fee Simple |
| Property Type | Industrial |
| Property Subtype | Manufacturing |
| Building Class | C |
| Lot Size | 0.43 AC |
| Rentable Building Area | 23,750 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1965/2013 |
| Parking Ratio | 1.12/1,000 SF |
| Clear Ceiling Height | 13’ |
| No. Dock-High Doors/Loading | 2 |
| No. Drive In / Grade-Level Doors | 2 |
| Zoning | LI - Light Industrial |
| Parcel Number | 21-00088-02-00037 |
Amenities
- 24 Hour Access
- Front Loading
- Mezzanine
- Property Manager on Site
- Yard
- Storage Space
- Air Conditioning
Utilities
- Gas - Natural
- Water - City
- Sewer - City
- Heating
Walk Score®
Very Walkable (83)
Demographics
Regional Accessibility
City
Population
Miles
Drive Time
New York
8,398,748
25
0 h 44 m
Philadelphia
1,584,138
94
2 h 0 m
Boston
694,583
217
4 h 39 m
Washington
702,455
227
4 h 42 m
Columbus
892,533
550
10 h 17 m
Detroit
672,662
611
11 h 24 m
Access and Labor Force
10 Miles
Total Population
2,895,586
Total Labor Force
1,609,322
Unemployment Rate
4.99%
Median Household Income
$91,366
Warehouse Employees
201,740
High School Education Or Higher
88.00%
Sale Advisors
Sale Advisors
Michael Fromowitz, Broker / Owner
Known for his honesty, market knowledge, and straightforward negotiation style, he has guided clients through hundreds of successful transactions. Michael is widely trusted for finding real opportunities, solving problems quickly, and putting clients' interests first.
Michael has received the LoopNet Power Broker award for transacting a great deal of complex and dynamic transformations.
Michael has received the LoopNet Power Broker award for transacting a great deal of complex and dynamic transformations.
About the Auction Technology
Auctions by Ten-X are the #1 transaction technology powering commercial real estate transactions online. With over $34B in total transactions, these auctions use best-in-class technology and real-time asset intelligence to put listings in the best position to find the perfect buyer. The expedited auction timeline, comprehensive due diligence, and buyer qualification make transactions twice as fast and twice as certain for brokers, owners, and investors.
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Auction Contact
Casey Harrell
Contact
Auctioneer License:
Ten-X Commercial, LLC Arlene Richardson RE Brkr 2187404
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3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000
Maximum Transaction Fee
$300,000
Example Calculation
Winning Bid Amount
$5,000,000
Transaction Fee
$150,000 (3%)
Total Purchase Price
$5,150,000
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Income-Generating Multi-Tenant Flex Warehouse | 160 Belmont Ave
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