Ironbound Warehouse with Tenant
91 Rome St Newark, NJ 07105
91 Rome St, Newark, NJ, 07105
$1,199,000
For Sale
$1,199,000
5,619 SF warehouse in Newark with tenant in place.
Property Size5,619 SF
Lot Size0.13 Acres
Price / SF$213.38
Days on Market171
Property Features for 91 Rome St
General Information
- Standard status
- Active
- Size
- 5,619 SF
- Lot size
- 0.13 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 9999
Listing Agency
EXIT REALTY LUCKY ASSOCIATES
(908) 289-7746
Listed by
ANTONIO COSTA · License #238477
Source
Corcoran
Added: Jan 27 Checked: Jul 17 at 3:21 am
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 EXIT REALTY LUCKY ASSOCIATES
Investment Insights
Based on property information with market context.
This 5,619 square foot warehouse is located in the Ironbound section. It is zoned I-1 and features two overhead doors. The property is currently divided into two spaces. The owner occupies approximately 2,250 square feet, while a tenant occupies approximately 3,350 square feet. The tenant's lease expires in May 2026. The building features one gas meter, one electric meter, gas heat blower, concrete floors, and high ceilings.
Key Highlights
- 5,619 sq ft warehouse in the Ironbound
- I‑1 zoning suitable for industrial use
- Tenant in place occupying 3,350 sq ft with lease expiring May 2026
Local Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $87.7k | $15.60 |
| − Vacancy | −$5.1k | −$0.90 |
| EGI | $82.6k | $14.70 |
| − OpEx | −$12.4k | −$2.20 |
| NOI | $70.2k | $12.49 |
5,619 SF · lease $15.60/SF/yr · vacancy 5.80% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$1.00M
$877.3K – $1.17M
NOI $70,186 @ 7.0% cap · market cap 5.85%
Second Best
Industrial
$824.8K
$721.7K – $962.3K
NOI $57,739 @ 7.0% cap · market cap 4.82%
Theoretical Best
Office A
$2.01M
$1.76M – $2.34M
NOI $140,682 @ 7.0% cap · market cap 11.73%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
LMC Precision Co
Industrial Manufacturer
Similar For Sale Nearby
Similar Off Market Nearby
- Atinos Storage Facility — 74 Avenue L 1st floor unit 1, Newark, NJ 07105
- Lineage — 360 Avenue P, Newark, NJ 07105
- Garden State Cold Storage — 474 Wilson Ave, Newark, NJ 07105
- Bell Container — 414 Avenue P, Newark, NJ 07105
- Nyk Logistics — 329 Wilson Ave, Newark, NJ 07105
FAQs
What type of property is this?
Warehouse - 5,619 SF warehouse in Newark with tenant in place.
Where is this warehouse located?
The property is located at 91 Rome St Newark, NJ.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: 5,619 sq ft warehouse in the Ironbound; I‑1 zoning suitable for industrial use; Tenant in place occupying 3,350 sq ft with lease expiring May 2026
