Manufacturing Property with Flexible
For Sale
$2,400,000
15 Harold St, Westwood, NJ 07675
LB-1 zoning supports industrial and manufacturing use in Westwood.
Property Size13,000 SF
Days on Market193
Property Features for 15 Harold St
General Information
Standard status
Active
Size
13,000 SF
Property subtype
Factory
Building Details
Building Size
13,000 SF
Year Built
1953
Listing Agency:
Keller Williams City Views Realty
(201) 315-1223
Listed By:
Bruce Elia
(201) 315-1223
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 30
Last Checked: Aug 30 at 7:31AM
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 City Views Realty
Investment Insights
Based on property information with market context.
This manufacturing property includes a 13,000-square-foot building constructed in 1953. The source information describes solid construction, ample operating space, and zoning under LB-1, with flexibility for industrial and manufacturing uses.
Located at 15 Harold St in Westwood, New Jersey, the property provides access to major transportation routes, including the Garden State Parkway and Route 17. Westwood Plaza and Bergen Town Center are nearby, adding shopping and dining options to the surrounding area.
Located at 15 Harold St in Westwood, New Jersey, the property provides access to major transportation routes, including the Garden State Parkway and Route 17. Westwood Plaza and Bergen Town Center are nearby, adding shopping and dining options to the surrounding area.
Key Highlights
- 13,000‑square‑foot manufacturing building
- Constructed in 1953
- Zoned LB‑1
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
$145,915
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
6.08%
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%
$2,918,300
$2.9M
Cap Rate 7%
$2,084,500
$2.1M
Cap Rate 9%
$1,621,278
$1.6M
Market Conditions
NOI Build-Up for 13,000 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
$221.5K $17.04/SF
− Vacancy
−$13.1K −$1.01/SF
EGI
$208.5K $16.03/SF
− OpEx
−$62.5K −$4.81/SF
NOI
$145.9K $11.22/SF
Area
Bergen County, NJ
Vacancy
5.90%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
30.00%
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%
$2,918,300
Cap Rate 7%
$2,084,500
Cap Rate 9%
$1,621,278
Alternative Uses
Best Use
Industrial
$2.08M
$1.82M – $2.43M
NOI $145,915 @ 7.0% cap · market cap 6.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.39M
$2.97M – $3.96M
NOI $237,619 @ 7.0% cap · market cap 9.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,258
Businesses Nearby
Explore this area
Business Placement
Demographics for 07675, NJ
27,079
Population
10,049
Households
2.7
Avg Household Size
45
Median Age
65%
College-Educated
97%
High-School Grad
9.6 sq mi
ZIP Area
2,821
Density / Sq Mi
$176,981
Median Household Income
$72,808
Median Earnings
$2,347
Median Rent
$680,600
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - LB-1 zoning supports industrial and manufacturing use in Westwood.
Where is this manufacturing property located?
The property is located at 15 Harold St Westwood, NJ.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: 13,000‑square‑foot manufacturing building; Constructed in 1953; Zoned LB‑1
