Freestanding Flex
For Sale
Contact for pricing
237 Washington Ave, Hackensack, NJ 07601
Warehouse, office, showroom, and production areas support varied commercial operations.
Property Size6,000 SF
Price / SF$275
Days on Market154
Property Features for 237 Washington Ave
General Information
Standard status
Active
Size
6,000 SF
Total Parking Spaces
6
Property subtype
Industrial
Warehouse & Industrial
Clear Height
13 ft
Warehouse Space
3,600 SF
Drive-In Doors
1
Power
400 amps
Building Details
Buildings
1
Building Size
6,000 SF
Listing Agency:
NAI James E. Hanson - Teterboro
(201) 488-5800
Listed By:
Dominic Fittizzi · License #NJ 8337736
Source:
Crexi
Added: Apr 1
Changed: Aug 31
Last Checked: Aug 31 at 2:36AM
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 NAI James E. Hanson - Teterboro
Investment Insights
Based on property information with market context.
This freestanding flex property at 237 Washington Avenue in Hackensack, New Jersey, contains 6,000 SF of commercial space. The layout combines a 3,600 SF warehouse with a 2,400 SF office, showroom, and production area. A 12' overhead drive-in door supports loading, while 13' ceiling height under the iron and 400 Amps of power add functional capacity. The building also includes three ADA-compliant bathrooms and a handicap ramp at the entrance.
The property provides six parking spaces and has a 2-year-old roof. Its combination of warehouse, office, showroom, and production components creates a consolidated commercial facility with distinct work and customer-facing areas.
The property provides six parking spaces and has a 2-year-old roof. Its combination of warehouse, office, showroom, and production components creates a consolidated commercial facility with distinct work and customer-facing areas.
Key Highlights
- 6,000 SF freestanding building with 3,600 SF warehouse and 2,400 SF office/showroom/production area
- 12' overhead drive‑in door for loading
- 400 Amps of power and 13' ceiling height under the iron
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
$91,800
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
5.56%
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%
$1,836,000
$1.8M
Cap Rate 7%
$1,311,429
$1.3M
Cap Rate 9%
$1,020,000
$1.0M
Market Conditions
NOI Build-Up for 6,000 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
$180.0K $30.00/SF
− Vacancy
−$57.6K −$9.60/SF
EGI
$122.4K $20.40/SF
− OpEx
−$30.6K −$5.10/SF
NOI
$91.8K $15.30/SF
Area
Bergen 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%
$1,836,000
Cap Rate 7%
$1,311,429
Cap Rate 9%
$1,020,000
Alternative Uses
Best Use
Office B
$1.31M
$1.15M – $1.53M
NOI $91,800 @ 7.0% cap · market cap 5.56%
Second Best
Warehouse
$1.17M
$1.02M – $1.36M
NOI $81,777 @ 7.0% cap · market cap 4.96%
Theoretical Best
Office A
$1.57M
$1.37M – $1.83M
NOI $109,670 @ 7.0% cap · market cap 6.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
13 ft
Clear height
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
1,771
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 07601, NJ
46,030
Population
21,405
Households
2.2
Avg Household Size
40
Median Age
42%
College-Educated
87%
High-School Grad
4.2 sq mi
ZIP Area
10,960
Density / Sq Mi
$82,212
Median Household Income
$50,265
Median Earnings
$1,794
Median Rent
$370,300
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 - Warehouse, office, showroom, and production areas support varied commercial operations.
Where is this flex space located?
The property is located at 237 Washington Ave Hackensack, NJ.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: 6,000 SF freestanding building with 3,600 SF warehouse and 2,400 SF office/showroom/production area; 12' overhead drive‑in door for loading; 400 Amps of power and 13' ceiling height under the iron
