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    891 Newark Ave Elizabeth, NJ 07208
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    891 Newark Ave Elizabeth, NJ 07208

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    • Warehouses
    • 299,999 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • South Atlantic Logistics / Logistics Company / Freight Service
    • Trans Rail Warehouse / Warehouse & Storage
    • United Fibers Trading Inc / Recycling Center / Waste Management Facility
    • Mack Transport Services / Freight Service / Logistics Company
    • J J & J Contractor Loading Experts / Trucking Company

    Property Details for 891 Newark Ave

    Year built
    2024
    Property size
    299,999 SF
    Property type
    Warehouses
    Property subtype
    Refrigerated & Cold Storage

    Description

    The Elizabeth Metropolitan Logistics Center, located at 891 Newark Ave, Elizabeth, NJ 07208, presents a rare opportunity to lease premier industrial space in the thriving Port Market submarket. This state-of-the-art facility, completed in 2024, boasts two single-story buildings totaling 299,999 square feet, offering flexible lease options. Two spaces are currently available, one measuring 103,912 square feet and the other 196,087 contiguous square feet, making it ideal for a variety of distribution and cold storage needs. The facility features a generous 40-foot ceiling height, 53 loading docks, and ample parking with 258 spaces. Situated on a 19.75-acre lot, this strategically located property provides easy access to major transportation arteries, including Newark Liberty International Airport, Port Newark, and the New Jersey Turnpike Interchange 13A. Its convenient location just minutes from Manhattan's access points makes it an unparalleled opportunity for businesses seeking efficient logistics and distribution solutions. The property's modern design and ample space ensure optimal operational efficiency and scalability for your business. Contact us today to learn more about this exceptional opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Elizabeth
    County
    Union
    State
    New Jersey
    Longitude
    -74.2063
    Latitude
    40.6839

    Comparable in this City

    • Value Estimation
      $4,455,000
      1,825,000 SF

      1015 Newark Ave, Unit 1027

      INDUSTRIAL (GENERAL) • 1,825,000 SF
      1015 Newark Ave, Elizabeth, NJ 07208-3518
      View Details
    • Value Estimation
      $5,790,000
      75,613 SF

      1001 Newark Ave, Unit 1013

      INDUSTRIAL (GENERAL) • 75,613 SF
      1001 Newark Ave, Elizabeth, NJ 07208-3576
      View Details
    • Value Estimation by Request
      1.74 Acres

      10 Smt Rd

      INDUSTRIAL (GENERAL) • 1.74 Acres
      10 Smt Rd, Elizabeth, NJ 07208-1216
      View Details
    • Value Estimation
      $21,905,000
      300,000 SF

      828 Newark Ave, Unit 838

      INDUSTRIAL (GENERAL) • 300,000 SF
      828 Newark Ave, Elizabeth, NJ 07208-3515
      View Details
    • Value Estimation by Request

      293 Morris Ave, Unit 295

      COMMERCIAL (GENERAL)
      293 Morris Ave, Elizabeth, NJ 07208-3658
      View Details
    • Value Estimation
      $760,000
      5,444 SF

      800 Sheridan Ave, Unit 810

      FINANCIAL BUILDING • 5,444 SF
      800 Sheridan Ave, Elizabeth, NJ 07208-3523
      View Details

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    Elizabeth, NJ 07208
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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