Three-Story Industrial Office
For Sale
Contact for pricing
50 Farrand St, Bloomfield, NJ 07003
Three-story industrial building with freight elevator, overhead dock doors, and 65 parking spaces on a 2.08-acre site.
Property Size75,872 SF
Lot Size2.08 Acres
Price / SF$134.44
Days on Market261
Property Features for 50 Farrand St
General Information
Standard status
Active
Size
75,872 SF
Total Parking Spaces
65
Lot size
2.08 Acres
Property subtype
INDUSTRIAL
Occupancy
100%
Warehouse & Industrial
Clear Height
16 ft
Dock-High Doors
3
Building Details
Year Built
1947
Stories
3
Tenancy
Single
Listing Agency:
Century 21 - Semiao and Associates | Lyndhurst
(201) 460-8000
Listed By:
Maggie Abdo-Manno · License #0457204
(201) 892-9933
Source:
Moodyscre
Added: Dec 17, 2025
Changed: Aug 14
Last Checked: Jul 21 at 5:55AM
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 Century 21 - Semiao and Associates | Lyndhurst
Investment Insights
Based on property information with market context.
This three-story, multi-level industrial building provides approximately 75,872 square feet of gross building area. Improvements include 10–16' ceiling heights, a freight elevator, and three overhead dock doors. The grade level and third level are generally warehouse/industrial space, while the second floor (about 33% of the GBA) includes office/storage area. Constructed in 1947, the property also includes 65 parking spaces.
The site is located along Farrand Street in Bloomfield Township in Essex County, New Jersey, and a small portion of the northern part of the site lies within the Borough of Glen Ridge. The property is identified as being in a redevelopment area.
The facility is fully net leased to a single tenant, SOLID STATE, INC. and N.T.E. ELECTRONICS. The current lease commenced January 1, 2022 and is stated to be for a ten-year term.
The site is located along Farrand Street in Bloomfield Township in Essex County, New Jersey, and a small portion of the northern part of the site lies within the Borough of Glen Ridge. The property is identified as being in a redevelopment area.
The facility is fully net leased to a single tenant, SOLID STATE, INC. and N.T.E. ELECTRONICS. The current lease commenced January 1, 2022 and is stated to be for a ten-year term.
Key Highlights
- ~75,872 SF three‑story industrial building with grade, 2nd, and 3rd‑level warehouse/industrial space plus office/storage
- 10‑16' ceiling heights, plus freight elevator and three overhead dock doors
- 2nd floor is approximately 33% of GBA for office/storage area
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
$869,413
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
8.52%
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%
$17,388,260
$17.4M
Cap Rate 7%
$12,420,186
$12.4M
Cap Rate 9%
$9,660,144
$9.7M
Market Conditions
NOI Build-Up for 75,872 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
$1.34M $17.64/SF
− Vacancy
−$96.4K −$1.27/SF
EGI
$1.24M $16.37/SF
− OpEx
−$372.6K −$4.91/SF
NOI
$869.4K $11.46/SF
Area
Essex County, NJ
Vacancy
7.20%
Lease Rate
$17.64 /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%
$17,388,260
Cap Rate 7%
$12,420,186
Cap Rate 9%
$9,660,144
Alternative Uses
Best Use
Flex RnD
$17.25M
$15.09M – $20.12M
NOI $1,207,157 @ 7.0% cap · market cap 11.83%
Second Best
Warehouse
$15.08M
$13.20M – $17.60M
NOI $1,055,716 @ 7.0% cap · market cap 10.35%
Theoretical Best
Office A
$19.81M
$17.34M – $23.11M
NOI $1,386,819 @ 7.0% cap · market cap 13.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16 ft
Clear height
3
Dock-high doors
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,590
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 07003, NJ
52,955
Population
21,692
Households
2.4
Avg Household Size
38
Median Age
49%
College-Educated
93%
High-School Grad
5.3 sq mi
ZIP Area
9,992
Density / Sq Mi
$98,805
Median Household Income
$56,465
Median Earnings
$1,775
Median Rent
$447,600
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 - Three-story industrial building with freight elevator, overhead dock doors, and 65 parking spaces on a 2.08-acre site.
Where is this flex space located?
The property is located at 50 Farrand St Bloomfield, NJ.
What is the asking price?
The asking price for this property is $10,200,000.
What are key features of this property?
This property features: ~75,872 SF three‑story industrial building with grade, 2nd, and 3rd‑level warehouse/industrial space plus office/storage; 10‑16' ceiling heights, plus freight elevator and three overhead dock doors; 2nd floor is approximately 33% of GBA for office/storage area
