Refrigerated Warehouse Space
For Sale
Contact for pricing
1161 E Broad St, Elizabeth, NJ
30,000 SF industrial building with refrigerated and processing areas.
Property Size30,000 SF
Lot Size0.55 Acres
Price / SF$225
Days on Market852
Property Features for 1161 E Broad St
General Information
Standard status
Active
Size
30,000 SF
Lot size
0.55 Acres
Property subtype
INDUSTRIAL
Listing Agency:
The Blau & Berg Company
(973) 379-6644
Listed By:
Jason M. Crimmins
(973) 568-6611
Source:
Moodyscre
Added: May 16, 2024
Changed: Sep 4
Last Checked: Sep 13 at 11:54AM
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 The Blau & Berg Company
Investment Insights
Based on property information with market context.
This industrial property features a total building size of approximately 30,000 square feet. The property includes roughly 4,000 square feet of refrigerated space and a 3,050 square foot blast freezer. There is also an estimated 7,000 square feet dedicated to processing, 9,710 square feet of dry space, and 4,000 square feet of office space. The loading area measures approximately 2,240 square feet with a depth of 56 feet. The building is equipped with 1,200 amps of 480/277 volts power. It also features 3 interior loading docks and 3 drive-in doors, with ceiling heights ranging from 12 to 14 feet. Additional amenities include full locker rooms and a cafeteria. Holding freezers can be converted into coolers, if necessary. The property taxes for 2023 were $101,833.20.
Key Highlights
- ±30,000 SF Total Building Size
- Benefit from ±4,000 SF of Refrigerated Space, plus ±3,050 SF Blast Freezer
- Includes ±7,000 SF Processing Area
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$409,318
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.06%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$8,186,360
$8.2M
Cap Rate 7%
$5,847,400
$5.8M
Cap Rate 9%
$4,547,978
$4.5M
Market Conditions
NOI Build-Up for 30,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$511.2K $17.04/SF
− Vacancy
−$29.6K −$0.99/SF
EGI
$481.6K $16.05/SF
− OpEx
−$72.2K −$2.41/SF
NOI
$409.3K $13.64/SF
Area
Elizabeth, NJ
Vacancy
5.80%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$8,186,360
Cap Rate 7%
$5,847,400
Cap Rate 9%
$4,547,978
Alternative Uses
Best Use
Warehouse
$5.85M
$5.12M – $6.82M
NOI $409,318 @ 7.0% cap · market cap 6.06%
Second Best
Industrial
$4.82M
$4.21M – $5.62M
NOI $337,085 @ 7.0% cap · market cap 4.99%
Theoretical Best
Office A
$11.11M
$9.72M – $12.96M
NOI $777,830 @ 7.0% cap · market cap 11.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,076
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Northeast region
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Frequently Asked Questions
What type of property is this?
Warehouse - 30,000 SF industrial building with refrigerated and processing areas.
Where is this warehouse located?
The property is located at 1161 E Broad St Elizabeth, NJ.
What is the asking price?
The asking price for this property is $6,750,000.
What are key features of this property?
This property features: ±30,000 SF Total Building Size; Benefit from ±4,000 SF of Refrigerated Space, plus ±3,050 SF Blast Freezer; Includes ±7,000 SF Processing Area
