Two-Story Flex
For Sale
$2,000,000
189 Greenwood Ave #2, Midland Park, NJ 07432
Commercial zoning and a loading dock support a range of workspace configurations.
Property Size8,489 SF
Price / SF$235.60
Days on Market22
Property Features for 189 Greenwood Ave #2
General Information
Standard status
Active
Size
8,489 SF
Property subtype
Commercial
Zoning
Commercial
Amenities
loading dock
heating
parking
Building Details
Building Size
8,489 SF
Year Built
2000
Buildings
1
Stories
2
Units
2
Listing Agency:
Realty One Group Legend
Listed By:
Youssef Genid · License #9701533
(973) 772-0660
Source:
Cammarotarealestate
Added: Oct 2
Changed: Oct 22
Last Checked: Oct 22 at 2:37PM
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
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Investment Insights
Based on property information with market context.
This 8,489-square-foot flex property at 189 Greenwood Ave #2 has two floors and a loading dock. The first level can accommodate warehouse, showroom, or office use, while the upper floor offers display, storage, or office space. The second floor is reachable from within the building and also has its own entrance and exit. Heating and parking are included.
Built in 2000, the property is in Midland Park, New Jersey, and is zoned Commercial.
Built in 2000, the property is in Midland Park, New Jersey, and is zoned Commercial.
Key Highlights
- 8,489‑square‑foot flex property with two floors
- Loading dock, heating, and parking
- Upper floor has both interior access and a separate entrance and exit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$115,700
Cap Rate
5.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,314,000
$2.3M
Cap Rate 7%
$1,652,857
$1.7M
Cap Rate 9%
$1,285,556
$1.3M
Market Conditions
NOI Build-Up for 8,489 SF
Gross rent
$144.7K $17.04/SF
− Vacancy
−$8.5K −$1.01/SF
EGI
$136.1K $16.03/SF
− OpEx
−$20.4K −$2.41/SF
NOI
$115.7K $13.63/SF
Area
Bergen 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%
$2,314,000
Cap Rate 7%
$1,652,857
Cap Rate 9%
$1,285,556
Alternative Uses
Best Use
Warehouse
$1.65M
$1.45M – $1.93M
NOI $115,700 @ 7.0% cap · market cap 5.79%
Second Best
Flex RnD
$1.60M
$1.40M – $1.87M
NOI $112,034 @ 7.0% cap · market cap 5.60%
Theoretical Best
Office A
$2.22M
$1.94M – $2.59M
NOI $155,165 @ 7.0% cap · market cap 7.76%
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
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Northeast region
Similar Off Market Nearby
- Carbone's Village Caterer — Midland Park, NJ 07432
- Clementine Caterers — 19 Central Ave, Midland Park, NJ 07432
Frequently Asked Questions
What type of property is this?
Flex space - Commercial zoning and a loading dock support a range of workspace configurations.
Where is this flex space located?
The property is located at 189 Greenwood Ave #2 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: 8,489‑square‑foot flex property with two floors; Loading dock, heating, and parking; Upper floor has both interior access and a separate entrance and exit
