299 Murray Hl Pkwy, East Rutherford, NJ 07073-2112
- Industrial properties
- 100,432 SF
- 3.71 lot acres
Current Use by Public Records
- BII-Braha Industries / Atm
- Ashko Group / Warehouse & Storage
Property Details for 299 Murray Hl Pkwy
- Year built
- 1979
- Lot size
- 3.71 lot acres
- Property type
- Industrial properties
- APN
- 12 00106- 01-00003
- APU
- 12001060100003
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Apr 23, 2024 | $28,500,000 | Atlantic Oliver Iti 299 Murray Hill | Braha N J Realty Associates INC | Deed | $19.7M · Webster Bank NA |
| Nov 24, 2020 | — | Braha Nj Realty Associates INC | — | Deed · related | $8.5M · United Of Omaha Life Insurance Company |
| — | — | Braha N J Realty Assocs INC | — | Deed Of Trust · related | $3.8M · Genworth Life Insurance Co |
Description
This exceptional 101,344-square-foot warehouse, located at 299 Murray Hill Parkway in East Rutherford, New Jersey, presents a significant opportunity for industrial businesses seeking a single-tenant space. Situated on a generous 3.72-acre lot in Bergen County, this property boasts impressive features ideal for various operations. The warehouse features a high ceiling clearance, ranging from 28 feet 7 inches to 22 feet 4 inches, providing ample vertical space for storage and operations. Twelve loading docks and one drive-in door ensure efficient loading and unloading of goods. Ample parking is available with 44 designated spaces. The property is fully vacant and ready for immediate occupancy. The building is equipped with a robust 1,200-amp power supply, capable of supporting demanding industrial processes. Its strategic location in East Rutherford, New Jersey, offers easy access to major transportation arteries, facilitating seamless logistics and distribution. The property's size, features, and location make it an attractive option for businesses seeking a modern and functional warehouse space in a prime New Jersey location. The zip code is 07073. This is a single-tenant industrial property.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $28,500,000
- ML approach
- $28,500,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $18,790,000
- 6.5%
- $17,345,000
- 7%
- $16,105,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $18,545,000
Market price range: $16.1M - $33.9M -
Alternative Use
- Use
- Estimation
- INDUSTRIAL (GENERAL)
- $22,495,000 Current use
- APARTMENT HOUSE (5+ UNITS)
- $32,995,000 Change: +47% Conversion: Difficult
- OFFICE BUILDING
- $24,260,000 Change: +8% Conversion: Difficult
- COMMERCIAL (GENERAL)
- $20,570,000 Change: -9% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- East Rutherford
- County
- Bergen
- State
- New Jersey
- Longitude
- -74.0912
- Latitude
- 40.8214
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
