Light Industrial Building with
For Sale
$775,000
Pending
103 Montgomery Ave, Irvington, NJ 07111
2200 sq ft building with high ceilings and storage.
Property Size2,200 SF
Days on Market586
Property Features for 103 Montgomery Ave
General Information
Standard status
Pending
Size
2,200 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$12,121
Amenities
Flat Roof
Forced Hot Air Heating
Off-Street Parking
On-Street Parking
Parking Lot-Exclusive
Building Details
Year Built
2002
Listing Agency:
KELLER WILLIAMS - NJ METRO GROUP
(973) 783-7400
Listed By:
MARY RYDER · License #240788
(973) 477-3657
Source:
Corcoran
Added: Mar 21, 2025
Changed: Oct 27
Last Checked: Oct 26 at 5:24PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of KELLER WILLIAMS - NJ METRO GROUP
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Investment Insights
Based on property information with market context.
This 2200 square foot building features two separate units, each approximately 1,100 square feet. The structure includes 22-foot high ceilings and two 12-foot high bay doors. An additional feature is the exterior storage and parking space for approximately 10 cars under a canopy at the back of the property. Zoned for light industrial use, the building is currently utilized as a stone and granite storage and showroom. Potential uses include a workshop, mechanic shop, or owner-occupied space with expansion possibilities. The property is located near Newark Airport, the Garden State Parkway, and major highways. Seller willing to provide financing.
Key Highlights
- 2200 sq ft building with two separate units (approx. 1,100 sq ft each).
- Zoned for light industrial use.
- 22‑foot high ceilings and two 12‑foot high bay doors.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,003
Cap Rate
4.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$700,060
$700.1K
Cap Rate 7%
$500,043
$500.0K
Cap Rate 9%
$388,922
$388.9K
Market Conditions
NOI Build-Up for 2,200 SF
Gross rent
$57.3K $26.04/SF
− Vacancy
−$3.4K −$1.56/SF
EGI
$53.9K $24.48/SF
− OpEx
−$18.8K −$8.57/SF
NOI
$35.0K $15.91/SF
Area
Essex County, NJ
Vacancy
6.00%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$700,060
Cap Rate 7%
$500,043
Cap Rate 9%
$388,922
Alternative Uses
Best Use
Flex RnD
$500.0K
$437.5K – $583.4K
NOI $35,003 @ 7.0% cap · market cap 4.52%
Second Best
Industrial
$360.1K
$315.1K – $420.2K
NOI $25,210 @ 7.0% cap · market cap 3.25%
Theoretical Best
Office A
$574.5K
$502.7K – $670.2K
NOI $40,212 @ 7.0% cap · market cap 5.19%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,579
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 07111, NJ
61,176
Population
24,176
Households
2.5
Avg Household Size
36
Median Age
22%
College-Educated
86%
High-School Grad
2.9 sq mi
ZIP Area
21,095
Density / Sq Mi
$59,232
Median Household Income
$37,640
Median Earnings
$1,324
Median Rent
$291,500
Median Home Value
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Market
Vacancy Rate% for Industrial in Northeast region
Similar Off Market Nearby
- Flavor S&P American Eatery — 277 Hawthorne Ave, Newark, NJ 07112
- Remarkable Cuisine LLC — 73 Clinton Pl, Newark, NJ 07108
- The Rush | Mobile Ice Cream, Coffee, and Dessert Shop — 113 Washington Ave, Irvington, NJ 07111
- urban hands — 584 S 10th St, Newark, NJ 07103
Frequently Asked Questions
What type of property is this?
Flex space - 2200 sq ft building with high ceilings and storage.
Where is this flex space located?
The property is located at 103 Montgomery Ave Irvington, NJ.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: 2200 sq ft building with two separate units (approx. 1,100 sq ft each).; Zoned for light industrial use.; 22‑foot high ceilings and two 12‑foot high bay doors.
