Log In/Sign Up
Your email has been sent.
160 Lanza Ave 10,000 SF 100% Leased Office Building Garfield, NJ 07026 $3,200,000 ($320/SF) 6.88% Cap Rate
Executive Summary
Built in 2010 this fully oocupied 12 unit office building with 25 parking spaces is fully occupied with approx $220,000 net income inclusive of common area reimbursement from tenant. Located in a Federal Opportunity zone. Block and steel beam construction, Anderson WIndows, currently fully occupied with 8 tenants that have absored other units to their use. Full basement, with ventilation unit, storage room with slop sink and electrical room. 2nd floor maintenance closet with camera and janitor sink Each Unit has own HVAC-Gas Heat & Central air, Total of 13 units- 1 for common area. 13 Separate gas & electric meters.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$293,000
|
$29.30
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$73,000
|
$7.30
|
| Net Operating Income |
$220,000
|
$22.00
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $293,000 |
| Annual Per SF | $29.30 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $73,000 |
| Annual Per SF | $7.30 |
| Net Operating Income | |
|---|---|
| Annual | $220,000 |
| Annual Per SF | $22.00 |
Property Facts
Sale Type
Investment
Sale Condition
Bulk/Portfolio Sale
Property Type
Office
Property Subtype
Medical
Building Size
10,000 SF
Building Class
B
Year Built
2010
Price
$3,200,000
Price Per SF
$320
Cap Rate
6.88%
NOI
$220,000
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
3,422 SF
Slab To Slab
12’
Building FAR
1.00
Lot Size
0.23 AC
Opportunity Zone
Yes
Zoning
R-2 - Built in 2010 this fully oocupied 12 unit office building with 25 parking spaces is fully occupied with approx $220,000 net income inclusive of common
Parking
25 Spaces (2.5 Spaces per 1,000 SF Leased)
Amenities
- Signage
- Storage Space
- Air Conditioning
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Cedar Assoc
- -
- -
- $21.60
- Modified Gross
- Sep 2022
- Crosscountry Mortgage Inc
- Finance and Insurance
- -
- -
- -
- -
- Dental LLC
- -
- -
- $30.00
- Modified Gross
- Oct 2028
- Health NJ
- -
- -
- $18.85
- Modified Gross
- Apr 2022
- Lanza Dental PC
- Health Care and Social Assistance
- -
- -
- -
- -
- Lavenda Skin Care LLC
- Educational Services
- -
- -
- -
- -
- LLC
- -
- -
- $19.09
- Modified Gross
- Mar 2020
- MedSpa
- -
- -
- $24.00
- Modified Gross
- Mar 2030
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Cedar Assoc | - | - | $21.60 | Modified Gross | Sep 2022 | |
| Crosscountry Mortgage Inc | Finance and Insurance | - | - | - | - | |
| Dental LLC | - | - | $30.00 | Modified Gross | Oct 2028 | |
| Health NJ | - | - | $18.85 | Modified Gross | Apr 2022 | |
| Lanza Dental PC | Health Care and Social Assistance | - | - | - | - | |
| Lavenda Skin Care LLC | Educational Services | - | - | - | - | |
| LLC | - | - | $19.09 | Modified Gross | Mar 2020 | |
| MedSpa | - | - | $24.00 | Modified Gross | Mar 2030 |
Moderately walkable
70/100
Very drivable
80/100
Some public transit
40/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 21-00193-0000-00041 | Improvements Assessment | $1,029,700 (2026) |
| Land Assessment | $470,300 (2026) | Total Assessment | $1,500,000 (2026) |
Property Taxes
Parcel Number
21-00193-0000-00041
Land Assessment
$470,300 (2026)
Improvements Assessment
$1,029,700 (2026)
Total Assessment
$1,500,000 (2026)
1 of 30
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
Contact the Sale Advisor
160 Lanza Ave