Multi-Building Industrial
400 Union Avenue, Wanaque, NJ 07420
For Sale
Contact for pricing
Three leased buildings with newer roofs and shorter lease terms provide flexibility for an owner-user.
Property Size22,000 SF
Lot Size2.34 Acres
Price / SF$181.82
Days on Market47
Property Features for 400 Union Avenue
General Information
Standard status
Size
Lot size
Property subtype
Occupancy
Additional Details
Highway Access
Clear Height
Tenant in Place
Building Details
Buildings
Listing Agency:
RE/MAX SELECT
Listed By:
Patrick Varelas · License NJ #1540486
(201) 400-5344
Source:
Crexi
Added: Sep 28
Changed: Nov 8
Last Checked: Nov 12 at 6:39AM
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 RE/MAX SELECT
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
At 400 Union Avenue, this industrial property brings together three buildings totaling approximately 22,000 square feet on 2.34 acres. All three buildings have newer roofs, and clear heights range from 14' to 17', with 12' overhead doors. The property is fully leased, with shorter-term leases that offer flexibility for a potential owner-user. Yard area is available for parking and other uses.
The site is next to The Depo, a newly constructed industrial warehouse of more than 200,000 square feet, and Passaic County College. I-287, Route 208 and Route 23 are minutes away.
The site is next to The Depo, a newly constructed industrial warehouse of more than 200,000 square feet, and Passaic County College. I-287, Route 208 and Route 23 are minutes away.
Key Highlights
- Three buildings totaling approximately 22,000sqft on 2.34 acres
- Fully leased with shorter‑term leases
- 14' to 17' clear heights and 12' OH Doors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$299,848
Cap Rate
7.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,996,960
$6.0M
Cap Rate 7%
$4,283,543
$4.3M
Cap Rate 9%
$3,331,644
$3.3M
Market Conditions
NOI Build-Up for 22,000 SF
Gross rent
$374.9K $17.04/SF
− Vacancy
−$22.1K −$1.01/SF
EGI
$352.8K $16.03/SF
− OpEx
−$52.9K −$2.41/SF
NOI
$299.8K $13.63/SF
Area
Passaic 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%
$5,996,960
Cap Rate 7%
$4,283,543
Cap Rate 9%
$3,331,644
Alternative Uses
Best Use
Warehouse
$4.28M
$3.75M – $5.00M
NOI $299,848 @ 7.0% cap · market cap 7.50%
Second Best
Industrial
$3.53M
$3.09M – $4.12M
NOI $246,933 @ 7.0% cap · market cap 6.17%
Theoretical Best
Office A
$5.74M
$5.03M – $6.70M
NOI $402,125 @ 7.0% cap · market cap 10.05%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
17 ft
Clear height
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
317
Businesses Nearby
Explore this area
Business Placement
Demographics for 07420, NJ
5,053
Population
1,873
Households
2.7
Avg Household Size
42
Median Age
33%
College-Educated
92%
High-School Grad
2.4 sq mi
ZIP Area
2,105
Density / Sq Mi
$106,915
Median Household Income
$49,313
Median Earnings
$1,788
Median Rent
$344,700
Median Home Value
Market
Average Price Trend$/SF for Industrial properties in Passaic County, NJ
Properties on Market for Industrial properties in Passaic County
Vacancy Rate% for Industrial in Northeast region
Frequently Asked Questions
What type of property is this?
Industrial property - Three leased buildings with newer roofs and shorter lease terms provide flexibility for an owner-user.
Where is this industrial property located?
The property is located at 400 Union Avenue Wanaque, NJ.
What is the asking price?
The asking price for this property is $3,999,999.
What are key features of this property?
This property features: Three buildings totaling approximately 22,000sqft on 2.34 acres; Fully leased with shorter‑term leases; 14' to 17' clear heights and 12' OH Doors
