Listing Agency: Bussell Realty Corp Show Phone

Listed By: Leo A. Esses Show Phone

Source: Moodyscre

Added: Mar 21, 2025 Changed: Oct 3 Last Checked: Oct 14 at 10:55PM

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Investment Insights

Based on property information with market context.

This 60,000-square-foot distribution center occupies a 3.14-acre lot and includes 7,500 square feet of office space. The warehouse provides 20-foot clear ceilings, 7 tailboards, and 1 drive-in door, with a 40-foot by 25-foot column layout supporting internal circulation. A wet sprinkler system and 2,000-amp power service are also in place.

Located at 7-10 Cragwood Rd in Avenel, New Jersey, the property includes dedicated vehicle capacity with parking for 50+ cars and 20 trailers. The combination of warehouse volume, loading infrastructure, office area, and secured-site parking supports distribution and industrial operations.

Key Highlights

• 60,000 square feet on a 3.14‑acre lot
• 7,500 SF of office space
• 20’ clear ceilings with 40’ x 25’ columns

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$817,767

Cap Rate

3.89%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$16,355,340 $16.4M

Cap Rate 7%

$11,682,386 $11.7M

Cap Rate 9%

$9,086,300 $9.1M

Is this asking price fair?

Market Conditions

NOI Build-Up for 60,000 SF

Gross rent

$1.02M $17.04/SF

− Vacancy

−$60.3K −$1.01/SF

EGI

$962.1K $16.03/SF

− OpEx

−$144.3K −$2.41/SF

NOI

$817.8K $13.63/SF

Area

Middlesex County, NJ

Vacancy

5.90%

Lease Rate

$17.04 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$16,355,340

Cap Rate 7%

$11,682,386

Cap Rate 9%

$9,086,300

Alternative Uses

Best Use

Warehouse

$11.68M

$10.22M – $13.63M (±1% cap)

NOI $817,767 @ 7.0% cap · market cap 3.89%

Second Best

Industrial

$9.62M

$8.42M – $11.22M (±1% cap)

NOI $673,455 @ 7.0% cap · market cap 3.21%

Theoretical Best

Office A

$15.67M

$13.71M – $18.28M (±1% cap)

NOI $1,096,704 @ 7.0% cap · market cap 5.22%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Distribution centers

Suggested Use

Top Pick Real Estate Agency Restaurant Law Firm Spa & Massage Center Building Supply Dental Office

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

20 ft

Clear height

7

Dock-high doors

1

Drive-in doors

Yes

Sprinkler system

Location Intelligence

Trade Area within ½ mile

453

Businesses Nearby

Explore this area Business Placement

Demographics for 07001, NJ

16,920

Population

5,693

Households

3

Avg Household Size

36

Median Age

29%

College-Educated

88%

High-School Grad

3.7 sq mi

ZIP Area

4,573

Density / Sq Mi

$95,935

Median Household Income

$50,740

Median Earnings

$1,839

Median Rent

$351,200

Median Home Value

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

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Frequently Asked Questions

What type of property is this?

Distribution center - Industrial facility combines dedicated office space with truck-oriented loading and trailer parking.

Where is this distribution center located?

The property is located at 7-10 Cragwood Rd Avenel, NJ.

What is the asking price?

The asking price for this property is $21,000,000.

What are key features of this property?

This property features: 60,000 square feet on a 3.14‑acre lot; 7,500 SF of office space; 20’ clear ceilings with 40’ x 25’ columns