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46 Farrand St 75,872 SF Industrial Building Bloomfield, NJ 07003 $8,000,000 ($105.44/SF) 7.50% Cap Rate
Investment Highlights
- Ideal for manufacturing, warehousing or distribution
- Located in Bloomfield Rdevelopment zone attached ordiance
- close to all major highways.
- Easy access to major highways
- tenants can stay for 2 years paying $600,000 Triple net or can be delivered vacant.
Executive Summary
The subject property represents a three-story multi-level industrial building comprising a total of approximately 75,872 square feet of gross building area. The improvements feature 10-16’ ceiling heights, with a freight elevator, and three overhead dock doors. There are also 65 parking spaces. The grade and 3rd levels generally consist of warehouse/industrial space, while the 2nd floor (approximately 33% of GBA) offers office/storage area. The improvements were constructed in 1947.
The facility is fully net leased to a single tenant, SOLID STATE, INC. and N.T.E. ELECTRONICS. The current lease commenced on January 1, 2022 and was for a ten-year term.
The overall site comprises a total approximately 2.08 acre lot. The site is located along Farrand Street in Bloomfield Township (Essex County) in the State of NJ. It is also worth noting that a small portion of the northern portion of the site is located within the Borough of Glen Ridge.
The facility is fully net leased to a single tenant, SOLID STATE, INC. and N.T.E. ELECTRONICS. The current lease commenced on January 1, 2022 and was for a ten-year term.
The overall site comprises a total approximately 2.08 acre lot. The site is located along Farrand Street in Bloomfield Township (Essex County) in the State of NJ. It is also worth noting that a small portion of the northern portion of the site is located within the Borough of Glen Ridge.
Property Facts
| Price | $8,000,000 | Lot Size | 1.79 AC |
| Price Per SF | $105.44 | Rentable Building Area | 75,872 SF |
| Sale Type | Investment or Owner User | No. Stories | 3 |
| Cap Rate | 7.50% | Year Built | 1947 |
| Property Type | Industrial | Tenancy | Single |
| Property Subtype | Service | Parking Ratio | 0.88/1,000 SF |
| Building Class | C | No. Drive In / Grade-Level Doors | 4 |
| Zoning | CBD - High Density Residential. Zoned in Re-development zone up to 8 stories high | ||
| Price | $8,000,000 |
| Price Per SF | $105.44 |
| Sale Type | Investment or Owner User |
| Cap Rate | 7.50% |
| Property Type | Industrial |
| Property Subtype | Service |
| Building Class | C |
| Lot Size | 1.79 AC |
| Rentable Building Area | 75,872 SF |
| No. Stories | 3 |
| Year Built | 1947 |
| Tenancy | Single |
| Parking Ratio | 0.88/1,000 SF |
| No. Drive In / Grade-Level Doors | 4 |
| Zoning | CBD - High Density Residential. Zoned in Re-development zone up to 8 stories high |
Utilities
- Lighting
- Gas - Natural
- Water - City
- Sewer - City
- Heating - Gas
Very walkable
80/100
Moderately drivable
60/100
Exceptional public transit
90/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 02-00225-0000-00015 | Improvements Assessment | $2,449,100 |
| Land Assessment | $775,400 | Total Assessment | $3,224,500 |
Property Taxes
Parcel Number
02-00225-0000-00015
Land Assessment
$775,400
Improvements Assessment
$2,449,100
Total Assessment
$3,224,500
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46 Farrand St
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