Versatile Industrial Unit For
For Sale
$649,000
2 Wilson Dr, Sparta, NJ 07871
Flexible warehouse/office space with high ceilings and convenient access.
Property Size3,276 SF
Price / SF$198.11
Days on Market146
Property Features for 2 Wilson Dr
General Information
Standard status
Active
Size
3,276 SF
Listing Agency:
CENTURY 21 VENTURE REAL ESTATE
Listed By:
TERESA DRAPCZUK
(973) 627-6800
Source:
Luminancerealty
Added: Apr 22
Changed: Sep 9
Last Checked: Sep 13 at 12:59PM
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 CENTURY 21 VENTURE REAL ESTATE
Investment Insights
Based on property information with market context.
This industrial unit offers approximately 3,276 square feet of flexible warehouse and office space, suitable for various business operations. The property features a wide-open warehouse area with an approximate 18-foot ceiling height, providing ample vertical space for storage and operational equipment. A 14-foot wide by 12-foot high drive-in door facilitates convenient loading and access for vehicles and equipment. The end unit includes three private office spaces, a restroom, and a small kitchenette, creating a balanced environment for administrative and warehouse activities. An additional loft area offers bonus storage, maximizing usable space. Located within a larger industrial complex, this separately deeded and individually owned unit provides flexibility and long-term value. The association manages common area maintenance, ensuring a professionally managed setting. On-site parking is available. The space will be delivered vacant, and the buyer has the option to keep the existing shelving, or the seller will remove it.
Key Highlights
- ±3,276 SF flexible warehouse/office space suitable for various business uses.
- 18' ceiling height in the warehouse and a 14'w x 12' high drive‑in door for easy loading and access.
- Includes three private offices, restroom, and kitchenette for balanced operations.
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
$36,771
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
5.67%
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%
$735,420
$735.4K
Cap Rate 7%
$525,300
$525.3K
Cap Rate 9%
$408,567
$408.6K
Market Conditions
NOI Build-Up for 3,276 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
$55.8K $17.04/SF
− Vacancy
−$3.3K −$1.01/SF
EGI
$52.5K $16.03/SF
− OpEx
−$15.8K −$4.81/SF
NOI
$36.8K $11.22/SF
Area
Sussex 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%
$735,420
Cap Rate 7%
$525,300
Cap Rate 9%
$408,567
Alternative Uses
Best Use
Industrial
$525.3K
$459.6K – $612.9K
NOI $36,771 @ 7.0% cap · market cap 5.67%
Second Best
Flex RnD
$478.2K
$418.4K – $557.9K
NOI $33,471 @ 7.0% cap · market cap 5.16%
Theoretical Best
Office A
$855.4K
$748.5K – $998.0K
NOI $59,880 @ 7.0% cap · market cap 9.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
295
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 07871, NJ
20,992
Population
8,367
Households
2.5
Avg Household Size
43
Median Age
62%
College-Educated
98%
High-School Grad
38.2 sq mi
ZIP Area
550
Density / Sq Mi
$167,443
Median Household Income
$84,587
Median Earnings
$1,831
Median Rent
$462,900
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 - Flexible warehouse/office space with high ceilings and convenient access.
Where is this flex space located?
The property is located at 2 Wilson Dr Sparta, NJ.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: ±3,276 SF flexible warehouse/office space suitable for various business uses.; 18' ceiling height in the warehouse and a **14'w x 12' high drive‑in door for easy loading and access.**; Includes three private offices, restroom, and kitchenette for balanced operations.
