Newark Warehouse in Ironbound
For Sale
$1,600,000
68 Garden St, Newark, NJ 07105
4,000 sq ft warehouse in Newark's Ironbound, versatile space.
Property Size4,000 SF
Price / SF$400
Days on Market440
Property Features for 68 Garden St
General Information
Standard status
Active
Size
4,000 SF
Taxes and HOA fees
Annual Taxes
$18,444
Building Details
Year Built
9999
Listing Agency:
RE/MAX FIRST REALTY II
(908) 664-1500
Listed By:
ROCCO LOBRACE
Source:
Corcoran
Added: May 29, 2025
Changed: Mar 16
Last Checked: Mar 16 at 9:09AM
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 FIRST REALTY II
Investment Insights
Based on property information with market context.
A 4,000 sq ft warehouse is available for sale in the Ironbound section of Newark. The property features ceiling heights between 12 and 18 ft and a 12 ft overhead garage door. The space is suitable for various industrial or commercial uses. Currently, the property operates as a window manufacturing facility. Adjacent properties are also available individually or as a package deal.
Key Highlights
- 4,000 sq ft warehouse in Newark's Ironbound section
- Boasts 12‑18 ft ceilings
- Features a 12 ft overhead garage door
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
$49,964
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
3.12%
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%
$999,280
$999.3K
Cap Rate 7%
$713,771
$713.8K
Cap Rate 9%
$555,156
$555.2K
Market Conditions
NOI Build-Up for 4,000 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
$62.4K $15.60/SF
− Vacancy
−$3.6K −$0.90/SF
EGI
$58.8K $14.70/SF
− OpEx
−$8.8K −$2.20/SF
NOI
$50.0K $12.49/SF
Area
ZIP 07105
Vacancy
5.80%
Lease Rate
$15.60 /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%
$999,280
Cap Rate 7%
$713,771
Cap Rate 9%
$555,156
Alternative Uses
Best Use
Warehouse
$713.8K
$624.6K – $832.7K
NOI $49,964 @ 7.0% cap · market cap 3.12%
Second Best
Industrial
$587.2K
$513.8K – $685.1K
NOI $41,103 @ 7.0% cap · market cap 2.57%
Theoretical Best
Office A
$1.43M
$1.25M – $1.67M
NOI $100,147 @ 7.0% cap · market cap 6.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,901
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 07105, NJ
50,870
Population
20,608
Households
2.5
Avg Household Size
35
Median Age
15%
College-Educated
70%
High-School Grad
4.6 sq mi
ZIP Area
11,059
Density / Sq Mi
$55,752
Median Household Income
$33,175
Median Earnings
$1,600
Median Rent
$445,900
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
- Newark Refrigerated Warehouse: Executive Office — 104 Avenue C, Newark, NJ 07114
- Extra Space Storage — 1239 Broad St, Newark, NJ 07114
- AJC INDUSTRIES LLC — 219 Vanderpool St, Newark, NJ 07114
- South Street Storage — 431 South St, Newark, NJ 07105
- True State Moving Services — 98 Murray St, Newark, NJ 07114
Frequently Asked Questions
What type of property is this?
Warehouse - 4,000 sq ft warehouse in Newark's Ironbound, versatile space.
Where is this warehouse located?
The property is located at 68 Garden St Newark, NJ.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: 4,000 sq ft warehouse in Newark's Ironbound section; Boasts 12‑18 ft ceilings; Features a 12 ft overhead garage door
