End-Unit Flex
For Sale
$649,000
2 Wilson Dr #4, Sparta, NJ 07871
Industrial unit combining open storage, private offices, loading access, and support areas within a managed complex.
Property Size3,276 SF
Price / SF$198.11
Days on Market132
Property Features for 2 Wilson Dr #4
General Information
Standard status
Active
Size
3,276 SF
Property subtype
Commercial
Zoning
ED
Warehouse & Industrial
Clear Height
18 ft
Drive-In Doors
1
Building Details
Building Size
3,276 SF
Year Built
1199
Stories
11
Units
1
Listing Agency:
C-21 Christel Realty
(609) 220-0933
Listed By:
Teresa Drapczuk
(609) 220-0933
Source:
Betterhomerealestate
Added: Apr 21
Changed: Aug 29
Last Checked: Aug 29 at 11:19PM
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 C-21 Christel Realty
Investment Insights
Based on property information with market context.
This separately deeded flex unit provides 3,276 square feet of combined warehouse and office space at 2 Wilson Dr #4 in Sparta Twp., New Jersey. The warehouse area has an approximately 18-foot ceiling and a 14-foot-wide by 12-foot-high drive-in door for direct loading access. Three private offices, a restroom, kitchenette, and loft storage support administrative and operational functions. The property is an end unit within a larger industrial complex and will be delivered vacant. On-site parking is available, while the association manages common area maintenance. The unit is zoned ED and is individually owned. Existing shelving may remain or be removed by the seller.
Key Highlights
- 3,276 SF separately deeded flex unit
- Approximately 18' ceiling height in the warehouse area
- 14'w x 12' high drive‑in door
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
$50,123
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
7.72%
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%
$1,002,460
$1.0M
Cap Rate 7%
$716,043
$716.0K
Cap Rate 9%
$556,922
$556.9K
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
$98.3K $30.00/SF
− Vacancy
−$31.4K −$9.60/SF
EGI
$66.8K $20.40/SF
− OpEx
−$16.7K −$5.10/SF
NOI
$50.1K $15.30/SF
Area
Sussex County, NJ
Vacancy
32.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,002,460
Cap Rate 7%
$716,043
Cap Rate 9%
$556,922
Alternative Uses
Best Use
Office B
$716.0K
$626.5K – $835.4K
NOI $50,123 @ 7.0% cap · market cap 7.72%
Second Best
Warehouse
$637.9K
$558.1K – $744.2K
NOI $44,650 @ 7.0% cap · market cap 6.88%
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
Property Profile
Current Use
Lease Details
18 ft
Clear height
1
Drive-in doors
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
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Industrial unit combining open storage, private offices, loading access, and support areas within a managed complex.
Where is this flex space located?
The property is located at 2 Wilson Dr #4 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 separately deeded flex unit; Approximately 18' ceiling height in the warehouse area; 14'w x 12' high drive‑in door
