745 Joyce Kilmer Ave New Brunswick, NJ 08901
- Industrial properties
- 10.89 lot acres
Current Use by Public Records
- Glory Tires / Tire Shop
- White Lotus Home - Organic Mattress & Pillow / Bedding Store / Handicrafts Wholesaler
Property Details for 745 Joyce Kilmer Ave
- Year built
- 1900
- Lot size
- 10.89 lot acres
- Zone code
- I-1
- Property type
- Industrial properties
- APN
- 13 00321-0000-00011- 02
- APU
- 130032100000001102
Description
This exceptional 138,000-square-foot warehouse in New Brunswick, NJ, presents a compelling investment opportunity. Situated on a 10.7-acre lot, this Class C industrial property boasts 8 loading docks and 6 dock-high doors, with ceiling heights averaging 17.6 feet (ranging from 14 to 24 feet). Built in 1930 and extensively renovated in 2007, the property features 1.45 parking spaces per 1,000 square feet and is zoned I-1. The warehouse benefits from a robust power supply (4,000 amps, 480 volts, 3-phase), a wet sprinkler system, and city water and sewer. Heating is provided by natural gas. Recent capital improvements exceeding $250,000 include a complete HVAC system upgrade and energy-efficient LED lighting throughout. The property is located in a New Jersey Urban Enterprise Zone, offering significant tax advantages. Seller financing is available to qualified buyers, with terms including 50% LTV, interest-only payments at 6% for five years. Development potential exists, with pre-prepared engineering plans for expansion (21,000 SF and 38,000 SF additions) or construction of new free-standing high-ceiling warehouses (125,000 SF or 151,000 SF). The property is conveniently located approximately 35 minutes from the Port of New York and New Jersey and 45 minutes from Manhattan or Brooklyn. Offered at a significantly below-market price, with a guaranteed 7.2% cap rate for two years, this property represents a rare opportunity for owner-users or investors seeking substantial returns. The property can be delivered vacant or with a sale-leaseback option, maintaining the guaranteed cap rate. Taxes for 2024 were $1.16 per square foot.
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
- New Brunswick
- County
- Middlesex
- State
- New Jersey
- Longitude
- -74.4666
- Latitude
- 40.4762
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
