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    Newark Warehouse with Enclosed Loading Title is generated by Realmo AI

    222 Miller St, Newark, NJ

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    5,000 SF warehouse featuring enclosed loading dock.

    Type:INDUSTRIAL
    Property size:
    5,000 SF
    Lot size:
    0.06 Acres
    Price / SF:
    $199/SF
    Added:
    Aug 13, 2024
    Days on Market:
    673
    Last Refresh:
    May 20 at 8:39 pm

    Property Features for 222 Miller St

    General Information

    Standard status
    Active
    Size
    5,000 SF
    Lot size
    0.06 Acres
    Property subtype
    INDUSTRIAL

    We can help!

    Listing Contact
    Jason M. Crimmins
    Jason M. Crimmins

    Listing agent Jason M. Crimmins License #0341793

    Listing office The Blau & Berg Company

    Listing date Aug 13, 2024

    Source Moodyscre

    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

    HighLights

    • 5,000 SF Total Size
    • 3 TB Enclosed Loading Dock Area
    • ±2,500 SF Floor Plate
    • 2‑Stories with Basement
    • ±0.06 AC Lot Size
    • Taxes: $6,220.44 (2022)

    Overview

    This 5,000 square foot warehouse includes a basement and two stories, with a floor plate of approximately 2,500 square feet. The property features an enclosed loading dock area with 3 truck bays. The lot size is approximately 0.06 acres, identified as Block 1179, Lot 34. The property taxes were $6,220.44 in 2022. The property is located in Newark, NJ.

    Local Financial Insights For Warehouse

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $78.0k $15.60
    − Vacancy −$4.5k −$0.90
    EGI $73.5k $14.70
    − OpEx −$11.0k −$2.20
    NOI $62.5k $12.49
    5,000 SF · lease $15.60/SF/yr · vacancy 5.80% · expense 15.00%

    Alternative Uses

    Best Use
    Warehouse
    $892.2K
    $780.7K – $1.04M (±1% cap)
    NOI $62,455 @ 7.0% cap · market cap 6.25%
    Second Best
    Industrial
    $734.8K
    $642.9K – $857.2K (±1% cap)
    NOI $51,433 @ 7.0% cap · market cap 5.15%
    Theoretical Best
    Office A
    $1.77M
    $1.55M – $2.07M (±1% cap)
    NOI $124,010 @ 7.0% cap · market cap 12.41%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    D&M Polished Concrete ... General Contractor

    Suggested Use

    Restaurant Real Estate Agency Law Firm Dental Office Building Supply Spa & Massage Center Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • PlusBox Coworking and Storage — 290 Elizabeth Ave, Newark, NJ 07108
    • Jet Blue Relocation Inc. — 20 E Peddie St, Newark, NJ 07114
    • Brantley Bros Moving & Storage Co. Inc — 174 Elizabeth Ave, Newark, NJ 07108
    • Father & Son Moving & Storage Inc — 194 Frelinghuysen Ave, Newark, NJ 07114
    • Extra Space Storage — 320 Elizabeth Ave, Newark, NJ 07112

    Location Insight

    • Map
    • Local Demand
    City
    Newark
    County
    Essex
    State
    New Jersey
    Longitude
    -74.1771
    Latitude
    40.7178

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    FAQs

    What type of property is this?
    Warehouse - 5,000 SF warehouse featuring enclosed loading dock.
    Where is this warehouse located?
    The property is located at 222 Miller St Newark, NJ.
    What is the asking price?
    The asking price for this property is $999,000.
    What are key features of this property?
    This property features: 5,000 SF Total Size; 3 TB Enclosed Loading Dock Area; **±2,500 SF Floor Plate**
    (973) 568-6611 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Jason M. Crimmins
    Jason M. Crimmins
    Real Estate License ID: 0341793
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