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661 Franklin Ave 4,627 SF 100% Leased Office Building Nutley, NJ 07110 $999,000 ($215.91/SF) 8.55% Cap Rate
Executive Summary
Fully leased 4,627 SF office building on a 65x162 lot on Franklin Ave near Rt 3. Two floors plus attic and basement. 15 offices currently rented as 9 office suites generating $145,423 in gross annual rent; NOI approximately $85,441.56 (roughly a 8.5% cap rate at asking). On-site parking for at least nine cars. B-1 zoning. Close to downtown Nutley, Route 3, Route 21, GSP, and NJ Transit rail. Financials available upon request.
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Building Size
4,627 SF
Building Class
B
Year Built
1800
Price
$999,000
Price Per SF
$215.91
Cap Rate
8.55%
NOI
$85,442
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
2,314 SF
Building FAR
0.43
Lot Size
0.25 AC
Zoning
B-1 - Zoned B-1 which allows for Offices, Retail, Medical, Mixed Use w/ Residential
Parking
11 Spaces (2.38 Spaces per 1,000 SF Leased)
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Moderately walkable
70/100
Exceptionally drivable
100/100
Some public transit
50/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 16-02001-0000-00021 | Improvements Assessment | $259,500 |
| Land Assessment | $540,500 | Total Assessment | $800,000 |
Property Taxes
Parcel Number
16-02001-0000-00021
Land Assessment
$540,500
Improvements Assessment
$259,500
Total Assessment
$800,000
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Contact the Sale Advisor
661 Franklin Ave