Automotive Repair Facility with
For Sale
Contact for pricing
308 2nd St, Hackensack, NJ 07601
Automotive repair facility includes an air-conditioned office, drive-thru capabilities, parking, and licensed operations on a half-acre lot.
Property Size10,000 SF
Lot Size0.50 Acres
Price / SF$400
Days on Market396
Property Features for 308 2nd St
General Information
Standard status
Active
Size
10,000 SF
Lot size
0.50 Acres
Property subtype
INDUSTRIAL
Additional Details
Clear Height
14 ft
Listing Agency:
NAI James E. Hanson | Teterboro
(201) 488-5800
Listed By:
Dominic Fittizzi · License #8337736
(201) 478-7476
Source:
Moodyscre
Added: Aug 14, 2025
Changed: Sep 9
Last Checked: Sep 13 at 9:04AM
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.
Automotive repair facility totaling approximately 10,000 SF on a 0.5-acre lot, with about 1,000 SF of air-conditioned office space. The property offers both exterior and interior parking and features drive-thru capabilities. A house next door is included and is described as ideal for employee housing.
The license includes Auto Body, Mechanical, and Auto Wreckage/Salvage Yard licenses. The building also includes 14’ ceiling height, supporting an active shop environment.
Taxes are listed as $22,715.25 for 2024.
The license includes Auto Body, Mechanical, and Auto Wreckage/Salvage Yard licenses. The building also includes 14’ ceiling height, supporting an active shop environment.
Taxes are listed as $22,715.25 for 2024.
Key Highlights
- 10,000 SF automotive repair facility on a 0.5‑acre lot
- Includes 1,000 SF air‑conditioned office
- Drive‑thru capabilities plus parking (exterior and interior)
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
$142,733
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
3.57%
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%
$2,854,660
$2.9M
Cap Rate 7%
$2,039,043
$2.0M
Cap Rate 9%
$1,585,922
$1.6M
Market Conditions
NOI Build-Up for 10,000 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
$216.0K $21.60/SF
− Vacancy
−$12.1K −$1.21/SF
EGI
$203.9K $20.39/SF
− OpEx
−$61.2K −$6.12/SF
NOI
$142.7K $14.27/SF
Area
Bergen County, NJ
Vacancy
5.60%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
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%
$2,854,660
Cap Rate 7%
$2,039,043
Cap Rate 9%
$1,585,922
Alternative Uses
Best Use
Retail
$2.04M
$1.78M – $2.38M
NOI $142,733 @ 7.0% cap · market cap 3.57%
Second Best
Industrial
$1.60M
$1.40M – $1.87M
NOI $112,242 @ 7.0% cap · market cap 2.81%
Theoretical Best
Office A
$2.61M
$2.28M – $3.05M
NOI $182,784 @ 7.0% cap · market cap 4.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
14 ft
Clear height
Location Intelligence
Trade Area within ½ mile
4,405
Businesses Nearby
Well-served
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Similar Off Market Nearby
- JJ Excel Auto Body (Hackensack Collision Center) — 219 Sussex St, Hackensack, NJ 07601
- Class A Autobody — 40 Railroad Ave, Hackensack, NJ 07601
- Digas Auto Center — 76 Union St, Hackensack, NJ 07601
- Hackensack Windshield Replacement & Repair — 15 Warren St, Hackensack, NJ 07601
- Hackensack Auto Glass Anytime — 24 Bergen St, Hackensack, NJ 07601
Frequently Asked Questions
What type of property is this?
Auto shop - Automotive repair facility includes an air-conditioned office, drive-thru capabilities, parking, and licensed operations on a half-acre lot.
Where is this auto shop located?
The property is located at 308 2nd St Hackensack, NJ.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: 10,000 SF automotive repair facility on a 0.5‑acre lot; Includes 1,000 SF air‑conditioned office; Drive‑thru capabilities plus parking (exterior and interior)
