Industrial Warehouse with Clear
New
For Sale
Contact for pricing
219 Saint Nicholas Avenue, South Plainfield, NJ 07080
Vacant warehouse with M3 industrial zoning and flexible configuration potential.
Property Size28,000 SF
Lot Size2.20 Acres
Price / SF$428.57
Days on Market4
Property Features for 219 Saint Nicholas Avenue
General Information
Standard status
Active
Size
28,000 SF
Lot size
2.20 Acres
Property subtype
Industrial
Zoning
M3
Warehouse & Industrial
Clear Height
24 ft
Cold Storage
No
Building Details
Building Size
28,000 SF
Listing Agency:
JSG Realty
Listed By:
Joshua Garay · License #NY 31GA1178912
Source:
Crexi
Added: Sep 14
Changed: Sep 16
Last Checked: Sep 16 at 1:43PM
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 JSG Realty
Investment Insights
Based on property information with market context.
The vacant warehouse contains 28,000 SF with 24-foot clear ceiling heights and an adaptable industrial layout. The property can be configured for cold storage, refrigeration, freezer operations, dry warehousing, truck repair, logistics, distribution, or truck-terminal use, subject to applicable requirements.
The site encompasses 2.2 acres off Route 287 and is approximately 20 minutes from the Port of Newark. M3 zoning supports the property’s industrial positioning, while the existing building and site provide a basis for multiple warehouse and distribution configurations.
The property is offered for sale and may suit an end user or investor seeking an industrial facility with vacant occupancy and the ability to accommodate specialized storage or transportation-related operations.
The site encompasses 2.2 acres off Route 287 and is approximately 20 minutes from the Port of Newark. M3 zoning supports the property’s industrial positioning, while the existing building and site provide a basis for multiple warehouse and distribution configurations.
The property is offered for sale and may suit an end user or investor seeking an industrial facility with vacant occupancy and the ability to accommodate specialized storage or transportation-related operations.
Key Highlights
- 28,000 SF warehouse building
- 24‑foot clear ceiling heights
- 2.2‑acre industrial property
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
$381,624
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
3.18%
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%
$7,632,480
$7.6M
Cap Rate 7%
$5,451,771
$5.5M
Cap Rate 9%
$4,240,267
$4.2M
Market Conditions
NOI Build-Up for 28,000 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
$477.1K $17.04/SF
− Vacancy
−$28.2K −$1.01/SF
EGI
$449.0K $16.03/SF
− OpEx
−$67.3K −$2.41/SF
NOI
$381.6K $13.63/SF
Area
Middlesex 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 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%
$7,632,480
Cap Rate 7%
$5,451,771
Cap Rate 9%
$4,240,267
Alternative Uses
Best Use
Warehouse
$5.45M
$4.77M – $6.36M
NOI $381,624 @ 7.0% cap · market cap 3.18%
Second Best
Industrial
$4.49M
$3.93M – $5.24M
NOI $314,279 @ 7.0% cap · market cap 2.62%
Theoretical Best
Office A
$7.31M
$6.40M – $8.53M
NOI $511,795 @ 7.0% cap · market cap 4.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
24 ft
Clear height
Location Intelligence
Trade Area within ½ mile
648
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 07080, NJ
24,261
Population
8,433
Households
2.9
Avg Household Size
41
Median Age
42%
College-Educated
93%
High-School Grad
8.2 sq mi
ZIP Area
2,959
Density / Sq Mi
$126,161
Median Household Income
$61,777
Median Earnings
$1,928
Median Rent
$444,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Northeast region
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Frequently Asked Questions
What type of property is this?
Warehouse - Vacant warehouse with M3 industrial zoning and flexible configuration potential.
Where is this warehouse located?
The property is located at 219 Saint Nicholas Avenue South Plainfield, NJ.
What is the asking price?
The asking price for this property is $12,000,000.
What are key features of this property?
This property features: 28,000 SF warehouse building; 24‑foot clear ceiling heights; 2.2‑acre industrial property
