Warehouse
For Sale
$5,900,000
39A Myrtle St, Cranford, NJ 07016
Established warehouse property with a 1962 construction date in Cranford, New Jersey.
Property Size30,000 SF
Price / SF$196.67
Days on Market151
Property Features for 39A Myrtle St
General Information
Standard status
Active
Size
30,000 SF
Property subtype
Warehouse
Additional Details
Cap Rate
7.35%
Amenities
100% Occupied, Approximately 30,000 Square Foot Industrial/Warehouse Property
Owner/User Opportunity or Upside in Raising Below Market Rents – All Tenants on Short Term Leases with No Options
Flexible C-2 Commercial Zoning
Building Details
Building Size
30,000 SF
Year Built
1962
Listing Agency:
Marcus & Millichap - New Jersey
(201) 742-6118
Listed By:
Alan Cafiero · License #License(s): NJ: 0791092
(201) 742-6118
Source:
Marcusmillichap
Added: Apr 3
Changed: Aug 31
Last Checked: Aug 31 at 2:25AM
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 Marcus & Millichap - New Jersey
Investment Insights
Based on property information with market context.
This warehouse property contains 30,000 square feet and was constructed in 1962. The building is located at 39A Myrtle St in Cranford, New Jersey, within Union County.
Key Highlights
- 30,000‑square‑foot warehouse property
- Constructed in 1962
- Located at 39A Myrtle St, Cranford, NJ 07016
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
$408,883
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
6.93%
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%
$8,177,660
$8.2M
Cap Rate 7%
$5,841,186
$5.8M
Cap Rate 9%
$4,543,144
$4.5M
Market Conditions
NOI Build-Up for 30,000 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
$511.2K $17.04/SF
− Vacancy
−$30.2K −$1.01/SF
EGI
$481.0K $16.03/SF
− OpEx
−$72.2K −$2.41/SF
NOI
$408.9K $13.63/SF
Area
Union 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 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%
$8,177,660
Cap Rate 7%
$5,841,186
Cap Rate 9%
$4,543,144
Alternative Uses
Best Use
Warehouse
$5.84M
$5.11M – $6.81M
NOI $408,883 @ 7.0% cap · market cap 6.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.83M
$6.85M – $9.14M
NOI $548,352 @ 7.0% cap · market cap 9.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,453
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 07016, NJ
23,827
Population
9,619
Households
2.5
Avg Household Size
42
Median Age
65%
College-Educated
97%
High-School Grad
4.7 sq mi
ZIP Area
5,070
Density / Sq Mi
$148,629
Median Household Income
$84,980
Median Earnings
$2,116
Median Rent
$635,800
Median Home Value
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
- NJ State Moving, Inc. — 20 Commerce Dr #135, Cranford, NJ 07016
- CubeSmart Self Storage — 601 S Ave E, Cranford, NJ 07016
- Just In Time Moving & Storage — 100 amsterdam ave, roselle, nj 07203
Frequently Asked Questions
What type of property is this?
Warehouse - Established warehouse property with a 1962 construction date in Cranford, New Jersey.
Where is this warehouse located?
The property is located at 39A Myrtle St Cranford, NJ.
What is the asking price?
The asking price for this property is $5,900,000.
What are key features of this property?
This property features: 30,000‑square‑foot warehouse property; Constructed in 1962; Located at 39A Myrtle St, Cranford, NJ 07016
