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44 Deforest Ave
East Hanover, NJ 07936
100% Occupied Lab/Government Bldg. · Industrial Property For Sale
Investment Highlights
- Weighted average lease terms extend through 2029–2033, with built-in annual rent escalations across private-sector tenants.
- Offered at a 7.00% cap rate with nearly $560K in NOI, supported by $818K+ in total income and predictable reimbursement structures.
- No material lease expirations in the near term; interim agreement in place for OCSME while long-term renewal discussions continue.
- Permits a wide range of industrial, laboratory, R&D, and manufacturing uses, supporting long-term reusability and exit optionality.
- Majority of tenants operate under NNN or modified net leases, with utilities and operating expenses largely passed through and caps favoring stability
Executive Summary
The property is a fully leased, mission-critical laboratory asset anchored by State of New Jersey government uses and specialized corporate tenants. Income is supported by long-term leases, contractual rent escalations, and strong expense reimbursements, resulting in stable in-place cash flow with limited landlord expense exposure.
Property Facts
| Sale Type | Investment | Rentable Building Area | 40,022 SF |
| Cap Rate | 7% | No. Stories | 3 |
| Property Type | Industrial | Year Built | 1998 |
| Property Subtype | Warehouse | Parking Ratio | 0.75/1,000 SF |
| Building Class | C | Clear Ceiling Height | 16’ |
| Lot Size | 1.02 AC | No. Drive In / Grade-Level Doors | 2 |
| Zoning | I-1 - Industrial | ||
| Sale Type | Investment |
| Cap Rate | 7% |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | C |
| Lot Size | 1.02 AC |
| Rentable Building Area | 40,022 SF |
| No. Stories | 3 |
| Year Built | 1998 |
| Parking Ratio | 0.75/1,000 SF |
| Clear Ceiling Height | 16’ |
| No. Drive In / Grade-Level Doors | 2 |
| Zoning | I-1 - Industrial |
Utilities
- Lighting - Fluorescent
- Gas - Natural
- Water - City Water
- Sewer - City Sewer
- Heating - Gas
Property Taxes
| Parcel Number | 10-00042-0000-00045-07 | Improvements Assessment | $594,600 |
| Land Assessment | $305,400 | Total Assessment | $900,000 |
Property Taxes
Parcel Number
10-00042-0000-00045-07
Land Assessment
$305,400
Improvements Assessment
$594,600
Total Assessment
$900,000
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