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245-249 Verona Ave 17,360 SF 50% Leased Industrial Building Newark, NJ 07104 $1,999,999 ($115.21/SF)
Investment Highlights
- Easy access to major corridors including I-280, Route 21, Garden State Parkway, and I-95
- Strong tenant demand in Newark’s rapidly growing North Ward residential market
- Mixed-use zoning enables both income stability and redevelopment potential
- Solid existing infrastructure with room for modernization
Executive Summary
Redevelopment opportunity located nearby new York New jersey corridor, already zoned MX-2 this .2 lot ready for transformation. Potential to reposition industrial space for higher-value commercial and residential uses.
Turn of the century 17,360 square foot building in the Forrest Hill section of Newark with very easy access to McCarter Highway route 21. Three floors total; 1st floor 6380 sqft, 2nd floor 6090 sqft, 3rd floor 4890 sqft, plus roof top. Inside you'll find a loading dock servicing the 1st /2nd floor and then fork lift access through back of building. Service elevator in back of building (not working as is). Abundant amount of electric: 240v, 3 phase, split service to each rentable floor/ unit. Very high ceilings on each of the floors. Drive in garage. Office area, conference room, and kitchenette lounge area with 2 balconies overlooking back of building. One rollup door garage in front and 1 drive in garage on lower basement level. Updated HVAC system.
Turn of the century 17,360 square foot building in the Forrest Hill section of Newark with very easy access to McCarter Highway route 21. Three floors total; 1st floor 6380 sqft, 2nd floor 6090 sqft, 3rd floor 4890 sqft, plus roof top. Inside you'll find a loading dock servicing the 1st /2nd floor and then fork lift access through back of building. Service elevator in back of building (not working as is). Abundant amount of electric: 240v, 3 phase, split service to each rentable floor/ unit. Very high ceilings on each of the floors. Drive in garage. Office area, conference room, and kitchenette lounge area with 2 balconies overlooking back of building. One rollup door garage in front and 1 drive in garage on lower basement level. Updated HVAC system.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$120,000
|
$6.91
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$120,000
|
$6.91
|
| Taxes |
$12,558
|
$0.72
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$12,558
|
$0.72
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $120,000 |
| Annual Per SF | $6.91 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $120,000 |
| Annual Per SF | $6.91 |
| Taxes | |
|---|---|
| Annual | $12,558 |
| Annual Per SF | $0.72 |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $12,558 |
| Annual Per SF | $0.72 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
| Price | $1,999,999 | Rentable Building Area | 17,360 SF |
| Price Per SF | $115.21 | No. Stories | 3 |
| Sale Type | Investment | Year Built | 1930 |
| Sale Condition | Redevelopment Project | Parking Ratio | 0.29/1,000 SF |
| Property Type | Industrial | Clear Ceiling Height | 12’ |
| Property Subtype | Manufacturing | No. Dock-High Doors/Loading | 1 |
| Building Class | C | No. Drive In / Grade-Level Doors | 1 |
| Lot Size | 0.20 AC | ||
| Zoning | Med Density Res/ Commerci - Mx2- Medium Density Residential Commercial | ||
| Price | $1,999,999 |
| Price Per SF | $115.21 |
| Sale Type | Investment |
| Sale Condition | Redevelopment Project |
| Property Type | Industrial |
| Property Subtype | Manufacturing |
| Building Class | C |
| Lot Size | 0.20 AC |
| Rentable Building Area | 17,360 SF |
| No. Stories | 3 |
| Year Built | 1930 |
| Parking Ratio | 0.29/1,000 SF |
| Clear Ceiling Height | 12’ |
| No. Dock-High Doors/Loading | 1 |
| No. Drive In / Grade-Level Doors | 1 |
| Zoning | Med Density Res/ Commerci - Mx2- Medium Density Residential Commercial |
Amenities
- Fenced Lot
- Front Loading
- Property Manager on Site
- Security System
- Signage
- Roof Terrace
- Storage Space
- Air Conditioning
Utilities
- Lighting - Fluorescent
- Gas - Natural
- Water - City
- Sewer - City
- Heating - Gas
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Manufacturing
- -
- $10.00
- Triple Net
- Nov 2022
Mclaud Technology Corp, founded in 2021 and headquartered in Gardena, California, specializes in Direct-to-Film (DTF) printing technology. The company offers a wide range of DTF printers, consumables such as inks, films, and powders, as well as parts and accessories to support businesses in the custom printing industry. With a mission to make advanced printing technology affordable and accessible, Mclaud Technology provides U.S.-based support and financing options for its customers. The company operates from its main office in California and maintains an additional branch in Newark, New Jersey, serving clients nationwide.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Manufacturing | - | $10.00 | Triple Net | Nov 2022 |
Space Availability
- Space
- Size
- Space Use
- Build-Out
- Available
- 1st Floor
- 6,380 SF
- Industrial
- -
- Now
- 2nd Floor
- 6,090 SF
- Industrial
- -
- Now
- 3rd Floor
- 4,890 SF
- Industrial
- -
- Now
| Space | Size | Space Use | Build-Out | Available |
| 1st Floor | 6,380 SF | Industrial | - | Now |
| 2nd Floor | 6,090 SF | Industrial | - | Now |
| 3rd Floor | 4,890 SF | Industrial | - | Now |
1st Floor
| Size |
| 6,380 SF |
| Space Use |
| Industrial |
| Build-Out |
| - |
| Available |
| Now |
2nd Floor
| Size |
| 6,090 SF |
| Space Use |
| Industrial |
| Build-Out |
| - |
| Available |
| Now |
3rd Floor
| Size |
| 4,890 SF |
| Space Use |
| Industrial |
| Build-Out |
| - |
| Available |
| Now |
Moderately walkable
60/100
Moderately drivable
70/100
Some public transit
50/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 14-00849-0000-00039 | Total Assessment | $330,200 |
| Land Assessment | $149,600 | Annual Taxes | $12,558 ($0.72/SF) |
| Improvements Assessment | $180,600 | Tax Year | 2025 |
Property Taxes
Parcel Number
14-00849-0000-00039
Land Assessment
$149,600
Improvements Assessment
$180,600
Total Assessment
$330,200
Annual Taxes
$12,558 ($0.72/SF)
Tax Year
2025
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245-249 Verona Ave
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