24 Ames Blvd Hamburg, NJ 07419
- Industrial properties
- 69,992 SF
- 15.90 lot acres
Current Use by Public Records
- Industrial properties
Property Details for 24 Ames Blvd
- Year built
- 1955
- Lot size
- 15.90 lot acres
- Property size
- 69,992 SF
- Property type
- Industrial properties
- Property subtype
- Manufacturing properties
Description
This exceptional investment opportunity presents a 69,992-square-foot single-tenant net-leased manufacturing and warehouse facility situated on a 15.9-acre lot in Hamburg, New Jersey. The property, built in 1955 and extensively renovated in 2022, boasts a 16-foot ceiling height, two loading docks, and five dock-high doors. Currently 100% occupied under an absolute NNN lease with a corporate guarantee, the lease commenced December 1, 2023, and extends until November 30, 2034, providing a substantial remaining lease term of 10 years. The tenant, a long-standing and successful business, has occupied the premises for over 50 years, demonstrating a strong commitment to the location. The property generates a current NOI of $500,000, with a pro-forma NOI projected at $550,000, resulting in a compelling 6.5% cap rate and a pro-forma cap rate of 7.15%. The asking price is $7,692,308, translating to $109.90 per square foot. This Class B industrial building is zoned for industrial use and offers a strategic location, conveniently situated near Route 94, Route 23, and I-287, providing easy access to major transportation arteries and significant metropolitan areas. The property's mission-critical nature for the tenant, encompassing manufacturing, warehouse, and office space, further enhances its investment appeal. The property features one building, one story, and is identified by APN 09-00001-0000-00035. Rent bumps are detailed in the offering memorandum.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Hamburg
- County
- Sussex
- State
- New Jersey
- Longitude
- -74.5804
- Latitude
- 41.1535
