Industrial Warehouse with Yard
For Sale
$750,000
345 Columbia St, Orange, NJ 07050
Two adjacent properties combine warehouse, office space, and additional land for parking and outdoor storage flexibility.
Property Size1,444 SF
Price / SF$519.39
Days on Market60
Property Features for 345 Columbia St
General Information
Standard status
Active
Size
1,444 SF
Property subtype
Commercial
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$5,239
Amenities
2 Units Heating
Additional Parking
Flat Roof
Open Lot
Parking Lot-Exclusive
Building Details
Year Built
1930
Listing Agency:
KELLER WILLIAMS - NJ METRO GROUP
(973) 783-7400
Listed By:
DANIELLE COLETTA · License #1860750
Source:
Corcoran
Added: Jun 12
Changed: Aug 8
Last Checked: Aug 8 at 4:14PM
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 KELLER WILLIAMS - NJ METRO GROUP
Investment Insights
Based on property information with market context.
345 Columbia Street offers an industrial building with high ceilings and overhead bay door access, supporting warehouse and storage operations. The layout also includes an office area and flexible interior configuration, currently used for an iron works business. The combination of overhead access and mixed work-and-storage space can fit a range of commercial and light industrial activities, including operations, distribution, and on-site storage.
The offering also includes 346 Columbia Street, located directly across the street. This included parcel adds additional land and flexibility for parking, outdoor storage, potential expansion, or future redevelopment, subject to municipal approvals. Both properties are presented together within Orange’s redevelopment zone, with convenient access to major highways, public transportation, and surrounding Essex County business corridors.
For owner-users, contractors, and investors seeking a larger footprint, the package provides a practical mix of enclosed warehouse/storage space and supplemental outdoor area. The ability to align operational space with yard and parking options may support businesses that need both indoor work capacity and space for equipment staging, deliveries, or material storage. The combined offering also supports buyers planning for phased use or future redevelopment in the area targeted for continued investment.
The offering also includes 346 Columbia Street, located directly across the street. This included parcel adds additional land and flexibility for parking, outdoor storage, potential expansion, or future redevelopment, subject to municipal approvals. Both properties are presented together within Orange’s redevelopment zone, with convenient access to major highways, public transportation, and surrounding Essex County business corridors.
For owner-users, contractors, and investors seeking a larger footprint, the package provides a practical mix of enclosed warehouse/storage space and supplemental outdoor area. The ability to align operational space with yard and parking options may support businesses that need both indoor work capacity and space for equipment staging, deliveries, or material storage. The combined offering also supports buyers planning for phased use or future redevelopment in the area targeted for continued investment.
Key Highlights
- Two adjacent properties (345 and 346 Columbia Street) offered together for a combined warehouse, office, and land footprint.
- 345 Columbia Street includes an industrial building with high ceilings, overhead bay door access, and warehouse/storage plus office area.
- 345 Columbia Street is currently used as an iron works business, with space supporting operations, storage, distribution, or light industrial use.
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
$22,975
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
3.06%
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%
$459,500
$459.5K
Cap Rate 7%
$328,214
$328.2K
Cap Rate 9%
$255,278
$255.3K
Market Conditions
NOI Build-Up for 1,444 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
$37.6K $26.04/SF
− Vacancy
−$2.3K −$1.56/SF
EGI
$35.3K $24.48/SF
− OpEx
−$12.4K −$8.57/SF
NOI
$23.0K $15.91/SF
Area
Essex County, NJ
Vacancy
6.00%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
35.00%
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%
$459,500
Cap Rate 7%
$328,214
Cap Rate 9%
$255,278
Alternative Uses
Best Use
Flex RnD
$328.2K
$287.2K – $382.9K
NOI $22,975 @ 7.0% cap · market cap 3.06%
Second Best
Warehouse
$287.0K
$251.2K – $334.9K
NOI $20,092 @ 7.0% cap · market cap 2.68%
Theoretical Best
Office A
$377.1K
$329.9K – $439.9K
NOI $26,394 @ 7.0% cap · market cap 3.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,326
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 07050, NJ
34,315
Population
13,412
Households
2.6
Avg Household Size
36
Median Age
21%
College-Educated
80%
High-School Grad
2.2 sq mi
ZIP Area
15,598
Density / Sq Mi
$53,109
Median Household Income
$38,587
Median Earnings
$1,427
Median Rent
$336,200
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Two adjacent properties combine warehouse, office space, and additional land for parking and outdoor storage flexibility.
Where is this flex space located?
The property is located at 345 Columbia St Orange, NJ.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Two adjacent properties (345 and 346 Columbia Street) offered together for a combined warehouse, office, and land footprint.; 345 Columbia Street includes an industrial building with high ceilings, overhead bay door access, and warehouse/storage plus office area.; 345 Columbia Street is currently used as an iron works business, with space supporting operations, storage, distribution, or light industrial use.
