Building Details

Year Built 1962

Year Renovated 2006

Buildings 1

Tenancy Single

Listed By: Nick Stefans · License #1539584

Source: Crexi

Added: Apr 29 Changed: Oct 12 Last Checked: Oct 20 at 8:30PM

Report an Issue

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 Nick Stefans

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

JLL is pleased to exclusively offer for sale the fee-simple interest in the single-tenant SRS Distribution industrial outdoor storage site. The property is leased to the operating tenant under an NN lease structure with approximately 6.6 years of remaining term and 3.75% annual rental escalations.

The asset includes 4.85 acres of industrial outdoor storage (IOS) with low site coverage of approximately 7.8%.

Located at 195 Leonardville Road in Belford, NJ (Middletown Township), the property offers an outdoor storage-focused configuration designed to support industrial yard operations within a single-tenant arrangement.

Key Highlights

• Fee‑simple sale of a single‑tenant SRS Distribution outdoor storage (IOS) property at 195 Leonardville, Belford, NJ
• NN lease in place with 6.6 years remaining term (per short description) and 19.6 years remaining term (per remarks)
• 3.75% annual rental escalations under the lease

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$190,167

Cap Rate

3.39%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,803,340 $3.8M

Cap Rate 7%

$2,716,671 $2.7M

Cap Rate 9%

$2,112,967 $2.1M

Is this asking price fair?

Market Conditions

NOI Build-Up for 16,337 SF

Gross rent

$235.3K $14.40/SF

− Vacancy

−$11.5K −$0.71/SF

EGI

$223.7K $13.69/SF

− OpEx

−$33.6K −$2.05/SF

NOI

$190.2K $11.64/SF

Area

Monmouth County, NJ

Vacancy

4.90%

Lease Rate

$14.40 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,803,340

Cap Rate 7%

$2,716,671

Cap Rate 9%

$2,112,967

Alternative Uses

Best Use

Warehouse

$2.72M

$2.38M – $3.17M (±1% cap)

NOI $190,167 @ 7.0% cap · market cap 3.39%

Second Best

Industrial

$2.24M

$1.96M – $2.61M (±1% cap)

NOI $156,608 @ 7.0% cap · market cap 2.80%

Theoretical Best

Office A

$4.27M

$3.73M – $4.98M (±1% cap)

NOI $298,614 @ 7.0% cap · market cap 5.33%

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

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Distribution centers

Suggested Use

Top Pick Hair Salon Skin Care Clinic Spa & Massage Center Parking Lot & Garage Bakery (Bike/Boat/Book/etc) Store

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

Turnkey business

Opportunity

Yes

Fenced yard

Location Intelligence

Trade Area within ½ mile

330

Businesses Nearby

Explore this area Business Placement

Demographics for 07718, NJ

6,210

Population

2,603

Households

2.4

Avg Household Size

41

Median Age

41%

College-Educated

95%

High-School Grad

2.1 sq mi

ZIP Area

2,957

Density / Sq Mi

$139,313

Median Household Income

$72,969

Median Earnings

$1,847

Median Rent

$490,100

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

Frequently Asked Questions

What type of property is this?

Distribution center - Fee-simple sale of a single-tenant outdoor storage facility with an NN lease and 6.6 years remaining term.

Where is this distribution center located?

The property is located at 195 Leonardville Road Belford, NJ.

What is the asking price?

The asking price for this property is $5,603,000.

What are key features of this property?

This property features: Fee‑simple sale of a single‑tenant SRS Distribution outdoor storage (IOS) property at 195 Leonardville, Belford, NJ; NN lease in place with 6.6 years remaining term (per short description) and 19.6 years remaining term (per remarks); 3.75% annual rental escalations under the lease