Building Details

Building Size 3,000 SF

Year Built 1986

Stories 1

Units 1

Listed By: PAULINE PANZA Show Phone

Source: Elliman

Added: Oct 16 Last Checked: Oct 16 at 2:37PM

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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 PAULINE PANZA

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Investment Insights

Based on property information with market context.

This 3,000-square-foot warehouse is configured for light industrial use, with ceilings exceeding 20 feet and an overhead garage door. The unit is scheduled to be emptied and cleaned. The building dates to 1986.

The property is in Mount Olive Township, New Jersey, near Routes 206, 80, 287, and 78.

Key Highlights

• 3,000 square feet of light industrial warehouse space
• Ceilings over 20 feet and an overhead garage door
• Near Routes 206, 80, 287, and 78

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$40,888

Cap Rate

7.45%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$817,760 $817.8K

Cap Rate 7%

$584,114 $584.1K

Cap Rate 9%

$454,311 $454.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,000 SF

Gross rent

$51.1K $17.04/SF

− Vacancy

−$3.0K −$1.01/SF

EGI

$48.1K $16.03/SF

− OpEx

−$7.2K −$2.41/SF

NOI

$40.9K $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%

$817,760

Cap Rate 7%

$584,114

Cap Rate 9%

$454,311

Alternative Uses

Best Use

Warehouse

$584.1K

$511.1K – $681.5K (±1% cap)

NOI $40,888 @ 7.0% cap · market cap 7.45%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$783.4K

$685.4K – $913.9K (±1% cap)

NOI $54,835 @ 7.0% cap · market cap 9.99%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Warehouses

Suggested Use

Top Pick Auto Parts Store Storage Facility Parking Lot & Garage HVAC Service Auto Repair Shop Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

1

Drive-in doors

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

271

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 07836, NJ

12,740

Population

4,777

Households

2.7

Avg Household Size

41

Median Age

51%

College-Educated

95%

High-School Grad

14.5 sq mi

ZIP Area

879

Density / Sq Mi

$154,743

Median Household Income

$76,453

Median Earnings

$1,872

Median Rent

$517,800

Median Home Value

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

Similar Off Market Nearby

• Mmtc Inc — Flanders, NJ 07836

Frequently Asked Questions

What type of property is this?

Warehouse - Light industrial space offers a tall interior and overhead garage access.

Where is this warehouse located?

The property is located at 5 Laurel Dr Flanders, NJ.

What is the asking price?

The asking price for this property is $549,000.

What are key features of this property?

This property features: 3,000 square feet of light industrial warehouse space; Ceilings over 20 feet and an overhead garage door; Near Routes 206, 80, 287, and 78