Newark Warehouse with Enclosed
For Sale
Contact for pricing
222 Miller St, Newark, NJ
5,000 SF warehouse featuring enclosed loading dock.
Property Size5,000 SF
Lot Size0.06 Acres
Price / SF$199.80
Days on Market729
Property Features for 222 Miller St
General Information
Standard status
Active
Size
5,000 SF
Lot size
0.06 Acres
Property subtype
INDUSTRIAL
Listing Agency:
The Blau & Berg Company
(973) 568-6611
Listed By:
Jason M. Crimmins · License #0341793
(973) 568-6611
Source:
Moodyscre
Added: Aug 13, 2024
Changed: Jul 6
Last Checked: Aug 10 at 10:12AM
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 The Blau & Berg Company
Investment Insights
Based on property information with market context.
This 5,000 square foot warehouse includes a basement and two stories, with a floor plate of approximately 2,500 square feet. The property features an enclosed loading dock area with 3 truck bays. The lot size is approximately 0.06 acres, identified as Block 1179, Lot 34. The property taxes were $6,220.44 in 2022. The property is located in Newark, NJ.
Key Highlights
- 5,000 SF Total Size
- 3 TB Enclosed Loading Dock Area
- ±2,500 SF Floor Plate**
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
$62,455
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
6.25%
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%
$1,249,100
$1.2M
Cap Rate 7%
$892,214
$892.2K
Cap Rate 9%
$693,944
$693.9K
Market Conditions
NOI Build-Up for 5,000 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
$78.0K $15.60/SF
− Vacancy
−$4.5K −$0.90/SF
EGI
$73.5K $14.70/SF
− OpEx
−$11.0K −$2.20/SF
NOI
$62.5K $12.49/SF
Area
Newark, NJ
Vacancy
5.80%
Lease Rate
$15.60 /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%
$1,249,100
Cap Rate 7%
$892,214
Cap Rate 9%
$693,944
Alternative Uses
Best Use
Warehouse
$892.2K
$780.7K – $1.04M
NOI $62,455 @ 7.0% cap · market cap 6.25%
Second Best
Industrial
$734.8K
$642.9K – $857.2K
NOI $51,433 @ 7.0% cap · market cap 5.15%
Theoretical Best
Office A
$1.77M
$1.55M – $2.07M
NOI $124,010 @ 7.0% cap · market cap 12.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,458
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
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- Brantley Bros Moving & Storage Co. Inc — 174 Elizabeth Ave, Newark, NJ 07108
- Father & Son Moving & Storage Inc — 194 Frelinghuysen Ave, Newark, NJ 07114
Frequently Asked Questions
What type of property is this?
Warehouse - 5,000 SF warehouse featuring enclosed loading dock.
Where is this warehouse located?
The property is located at 222 Miller St Newark, NJ.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: 5,000 SF Total Size; 3 TB Enclosed Loading Dock Area; ±2,500 SF Floor Plate**
