Wayne Industrial Opportunity For
179 Old Turnpike Rd Wayne, NJ 07470
179 Old Turnpike Rd, Wayne, NJ, 07470
$1,195,000
For Sale
$1,195,000
Versatile property near major highways, ideal for various commercial uses.
Property Size2,411 SF
Lot Size0.36 Acres
Price / SF$495.64
Days on Market139
Property Features for 179 Old Turnpike Rd
General Information
- Standard status
- Active
- Size
- 2,411 SF
- Lot size
- 0.36 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1926
Listing Agency
KELLER WILLIAMS PROSPERITY REALTY
(973) 696-0077
Listed by
TIMOTHY L. WALLER
Source
Corcoran
Added: Mar 2 Checked: Jul 19 at 4:33 am
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 PROSPERITY REALTY
Investment Insights
Based on property information with market context.
This industrial property is located in Wayne, NJ, and offers accessibility to major highways. The property is suitable for a wide range of commercial and contractor uses, including paving companies, landscapers, plumbers, electricians, mechanics, storage facilities, fleet parking, and truck parking. The property consists of two separate lots being sold together, situated on approximately 0.36 acres of flat, usable land. Improvements include a 1,301 sq. ft. warehouse and a 1,110 sq. ft. garage, suitable for equipment storage, vehicle servicing, material staging, or operational headquarters. The level lot allows for easy maneuverability of trucks, trailers, and heavy equipment, making it attractive for contractors and service-based businesses that require outdoor storage and parking. This property offers an investment or owner-user opportunity.
Key Highlights
- Prime location in Wayne, NJ with excellent access to major highways.
- Versatile property suitable for a wide range of commercial and contractor uses.
- Two separate lots totaling approximately .36 acres of flat, usable land, offering flexibility and expansion potential.
Local Financial Insights For Retail
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 | $52.1k | $21.60 |
| − Vacancy | −$2.9k | −$1.21 |
| EGI | $49.2k | $20.39 |
| − OpEx | −$14.7k | −$6.12 |
| NOI | $34.4k | $14.27 |
2,411 SF · lease $21.60/SF/yr · vacancy 5.60% · expense 30.00%
Alternative Uses
Best Use
Retail
$491.6K
$430.2K – $573.6K
NOI $34,413 @ 7.0% cap · market cap 2.88%
Second Best
Warehouse
$469.4K
$410.8K – $547.7K
NOI $32,861 @ 7.0% cap · market cap 2.75%
Theoretical Best
Office A
$629.6K
$550.9K – $734.5K
NOI $44,069 @ 7.0% cap · market cap 3.69%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
H Williams Paving ...
General Contractor
Similar For Sale Nearby
Similar Off Market Nearby
- Uncle Bob's Storage — 77 Willowbrook Blvd, Wayne, NJ 07470
- Cross State Van Lines — 31 riverview cir, little falls, nj 07424
FAQs
What type of property is this?
Warehouse - Versatile property near major highways, ideal for various commercial uses.
Where is this warehouse located?
The property is located at 179 Old Turnpike Rd Wayne, NJ.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: Prime location in Wayne, NJ with excellent access to major highways.; Versatile property suitable for a wide range of commercial and contractor uses.; Two separate lots totaling approximately .36 acres of flat, usable land, offering flexibility and expansion potential.
