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197 Park St - Orange Industrial Park 43,560 SF Specialty Building Offered at $3,325,000 at a 9.16% Cap Rate in East Orange, NJ 07017
Investment Highlights
- Large Industrial Lot/ Commercial Parking
- Multiple Income Producing Avenues
- Development/Value-Add Opportunity
Executive Summary
Highly flexible industrial property featuring 25 garages, a mechanic shop, and a 2-family residence. The site offers multiple avenues for investors, owner-users, and developers seeking both immediate use and long-term upside. The property currently includes multiple opportunities for income generation through garage rentals, automotive use, contractor storage, fleet parking, or residential tenancy. The unique layout and mixed-use characteristics create a variety of commercial and residential applications. Proximity to Newark Airport, Port Newark, Port Elizabeth, Route 280, & GSP.
In addition to the current use, the property offers strong redevelopment potential for medium-density residential projects, including multifamily housing, garden apartments, or townhome development.
In addition to the current use, the property offers strong redevelopment potential for medium-density residential projects, including multifamily housing, garden apartments, or townhome development.
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$354,000
|
$8.13
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$354,000
|
$8.13
|
| Taxes |
$39,356
|
$0.90
|
| Operating Expenses |
$10,000
|
$0.23
|
| Total Expenses |
$49,356
|
$1.13
|
| Net Operating Income |
$304,644
|
$6.99
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $354,000 |
| Annual Per SF | $8.13 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $354,000 |
| Annual Per SF | $8.13 |
| Taxes | |
|---|---|
| Annual | $39,356 |
| Annual Per SF | $0.90 |
| Operating Expenses | |
|---|---|
| Annual | $10,000 |
| Annual Per SF | $0.23 |
| Total Expenses | |
|---|---|
| Annual | $49,356 |
| Annual Per SF | $1.13 |
| Net Operating Income | |
|---|---|
| Annual | $304,644 |
| Annual Per SF | $6.99 |
Property Facts
| Price | $3,325,000 | Building Class | C |
| Price Per SF | $76.33 | Lot Size | 1.00 AC |
| Sale Type | Investment or Owner User | Building Size | 43,560 SF |
| Cap Rate | 9.16% | No. Stories | 1 |
| Property Type | Specialty | Year Built | 1964 |
| Property Subtype | Contractor Storage Yard | ||
| Zoning | MX2 - Mixed Use Commercial/Residential | ||
| Price | $3,325,000 |
| Price Per SF | $76.33 |
| Sale Type | Investment or Owner User |
| Cap Rate | 9.16% |
| Property Type | Specialty |
| Property Subtype | Contractor Storage Yard |
| Building Class | C |
| Lot Size | 1.00 AC |
| Building Size | 43,560 SF |
| No. Stories | 1 |
| Year Built | 1964 |
| Zoning | MX2 - Mixed Use Commercial/Residential |
Amenities
- Air Conditioning
Very walkable
80/100
Moderately drivable
70/100
Good public transit
70/100
Moderately bikeable
60/100
Property Taxes
| Parcel Numbers | Total Assessment | $534,000 (2025) | |
| Land Assessment | $354,100 (2025) | Annual Taxes | $39,356 ($0.90/SF) |
| Improvements Assessment | $179,900 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Numbers
Land Assessment
$354,100 (2025)
Improvements Assessment
$179,900 (2025)
Total Assessment
$534,000 (2025)
Annual Taxes
$39,356 ($0.90/SF)
Tax Year
2026
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