Flex Space with Loading
For Sale
$2,000,000
189 Greenwood Avenue, Midland Park, NJ 07432
Renovated two-level facility pairs warehouse and showroom areas with offices, storage, and a separate entrance to the upper floor.
Property Size8,000 SF
Price / SF$250
Days on Market12
Property Features for 189 Greenwood Avenue
General Information
Standard status
Active
Size
8,000 SF
Taxes and HOA fees
Annual Taxes
$30,426
Amenities
Central Air, Gas, Zoned
Central, Natural Gas, Zoned
Building Details
Buildings
1
Stories
2
Building Size
8,000 SF
Listing Agency:
Realty One Group Legend, Clifton
Listed By:
Youssef Genid · License #9701533
(973) 772-0660
Source:
Evrealestate
Added: Oct 2
Changed: Oct 10
Last Checked: Oct 12 at 6:31PM
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 Realty One Group Legend, Clifton
Investment Insights
Based on property information with market context.
This renovated flex property contains approximately 8,000 square feet over two floors. The first level combines warehouse and showroom space with a room opening to the loading dock, a storage room, a private office, and a bathroom. The second floor offers approximately 2,500 square feet of open area, four private offices, a kitchen, a full bath, two storage rooms, and separate loading dock access. An independent entrance serves the upper level, which also connects internally to the first floor. Updates include paint, flooring, carpeting, a bathroom, and heating.
Located at 189 Greenwood in Midland Park, the property includes parking and loading dock access on both levels.
Located at 189 Greenwood in Midland Park, the property includes parking and loading dock access on both levels.
Key Highlights
- Approximately 8,000 square feet across two floors
- Second floor includes approximately 2,500 square feet of open space
- Four private offices, kitchen, full bath, and two storage rooms on the second floor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$114,186
Cap Rate
5.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,283,720
$2.3M
Cap Rate 7%
$1,631,229
$1.6M
Cap Rate 9%
$1,268,733
$1.3M
Market Conditions
NOI Build-Up for 8,000 SF
Gross rent
$172.8K $21.60/SF
− Vacancy
−$9.7K −$1.21/SF
EGI
$163.1K $20.39/SF
− OpEx
−$48.9K −$6.12/SF
NOI
$114.2K $14.27/SF
Area
Bergen County, NJ
Vacancy
5.60%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,283,720
Cap Rate 7%
$1,631,229
Cap Rate 9%
$1,268,733
Alternative Uses
Best Use
Retail
$1.63M
$1.43M – $1.90M
NOI $114,186 @ 7.0% cap · market cap 5.71%
Second Best
Warehouse
$1.56M
$1.36M – $1.82M
NOI $109,036 @ 7.0% cap · market cap 5.45%
Theoretical Best
Office A
$2.09M
$1.83M – $2.44M
NOI $146,227 @ 7.0% cap · market cap 7.31%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
708
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 07432, NJ
6,986
Population
3,112
Households
2.2
Avg Household Size
45
Median Age
55%
College-Educated
97%
High-School Grad
1.6 sq mi
ZIP Area
4,366
Density / Sq Mi
$140,063
Median Household Income
$91,058
Median Earnings
$1,837
Median Rent
$586,200
Median Home Value
Check the figures for this property
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?
Flex space - Renovated two-level facility pairs warehouse and showroom areas with offices, storage, and a separate entrance to the upper floor.
Where is this flex space located?
The property is located at 189 Greenwood Avenue Midland Park, NJ.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Approximately 8,000 square feet across two floors; Second floor includes approximately 2,500 square feet of open space; Four private offices, kitchen, full bath, and two storage rooms on the second floor
