High-Bay Industrial
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For Sale
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301 Division St, Boonton, NJ 07005
Two warehouse and light manufacturing units include office space, loading docks, and a rooftop solar array.
Property Size55,129 SF
Price / SF$272.73
Days on Market2
Property Features for 301 Division St
General Information
Standard status
Active
Size
55,129 SF
Property subtype
INDUSTRIAL
Warehouse & Industrial
Mezzanine
1,500 SF
Dock-High Doors
8
Sprinkler System
Yes
Additional Details
Property Use
Warehouse/Light Manufacturing
Building Details
Year Built
1973
Buildings
1
Stories
1
Building Size
55,129 SF
Construction
masonry
Listing Agency:
Cervelli Real Estate & Property Management
(201) 868-6300
Listed By:
Chris Cervelli · License #9807944
Source:
Moodyscre
Added: Oct 22
Changed: Oct 23
Last Checked: Oct 23 at 4:19PM
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 Cervelli Real Estate & Property Management
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Investment Insights
Based on property information with market context.
This single-story industrial building, constructed in 1973, is configured as two warehouse and light manufacturing units. Most of the warehouse has 24-foot clear heights, with a separate area exceeding 50 feet. Eight tailboard docks serve the facility from three building exposures, and a new sprinkler system is installed throughout. An open storage mezzanine adds approximately 1,500 SF beyond the building area. Finished office space accounts for about 10% of the building and includes private offices, meeting rooms, a kitchenette, and restrooms.
Industrial interiors have concrete slab floors, with masonry block and drywall walls and a combination of finished and open ceilings. The office area is served by gas-fired rooftop HVAC; gas-fired suspended heaters serve the warehouse. Exterior construction includes masonry block and stucco, with a flat rubber membrane roof. A rooftop solar array supplements the property’s energy supply.
Industrial interiors have concrete slab floors, with masonry block and drywall walls and a combination of finished and open ceilings. The office area is served by gas-fired rooftop HVAC; gas-fired suspended heaters serve the warehouse. Exterior construction includes masonry block and stucco, with a flat rubber membrane roof. A rooftop solar array supplements the property’s energy supply.
Key Highlights
- Two warehouse/light manufacturing units in a single‑story facility
- 24‑foot clear heights across most of the warehouse, with a section exceeding 50 feet
- Eight tailboard loading docks across three building exposures
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$749,619
Cap Rate
5.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$14,992,380
$15.0M
Cap Rate 7%
$10,708,843
$10.7M
Cap Rate 9%
$8,329,100
$8.3M
Market Conditions
NOI Build-Up for 55,000 SF
Gross rent
$937.2K $17.04/SF
− Vacancy
−$55.3K −$1.01/SF
EGI
$881.9K $16.03/SF
− OpEx
−$132.3K −$2.41/SF
NOI
$749.6K $13.63/SF
Area
Morris 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 Rate 5%
$14,992,380
Cap Rate 7%
$10,708,843
Cap Rate 9%
$8,329,100
Alternative Uses
Best Use
Warehouse
$10.71M
$9.37M – $12.49M
NOI $749,619 @ 7.0% cap · market cap 5.00%
Second Best
Industrial
$8.82M
$7.72M – $10.29M
NOI $617,334 @ 7.0% cap · market cap 4.12%
Theoretical Best
Office A
$14.36M
$12.57M – $16.76M
NOI $1,005,312 @ 7.0% cap · market cap 6.70%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
8
Dock-high doors
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
992
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
Demographics for 07005, NJ
15,985
Population
6,115
Households
2.6
Avg Household Size
43
Median Age
56%
College-Educated
96%
High-School Grad
18.3 sq mi
ZIP Area
873
Density / Sq Mi
$126,411
Median Household Income
$66,198
Median Earnings
$1,779
Median Rent
$565,900
Median Home Value
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Market
Vacancy Rate% for Industrial in Northeast region
Similar Off Market Nearby
- Lackawanna Freight House — 100 Morris Ave, Boonton, NJ 07005
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- Georges Moving Co Inc — 209 Myrtle Ave, Boonton, NJ 07005
- Life Storage — 300 Myrtle Ave, Boonton, NJ 07005
Frequently Asked Questions
What type of property is this?
Warehouse - Two warehouse and light manufacturing units include office space, loading docks, and a rooftop solar array.
Where is this warehouse located?
The property is located at 301 Division St Boonton, NJ.
What is the asking price?
The asking price for this property is $15,000,000.
What are key features of this property?
This property features: Two warehouse/light manufacturing units in a single‑story facility; 24‑foot clear heights across most of the warehouse, with a section exceeding 50 feet; Eight tailboard loading docks across three building exposures
