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661 Franklin Ave 4,627 SF 100% Leased Office Building Nutley, NJ 07110 For Sale 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 train station. Financials available upon request.
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- Operating and Financials
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Building Size
4,627 SF
Building Class
B
Year Built
1800
Cap Rate
8.55%
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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