700 Pennsylvania Ave, Lyndhurst, NJ 07071
700 Pennsylvania Ave, Lyndhurst, NJ 07071Basic Details
- Date added: Added 2 weeks ago
- Type: Commercial
- Category: For Sale
- Status: Open
Description
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Description:
16,577 SF 100% Leased Industrial Building Lyndhurst, NJ 07071 $5,495,000 ($331.48/SF) 4.14% Cap Rate
The building on this site is currently occupied by 3 demised commercial tenants. All leases terminate on 9/30/26. Total annualized rent is currently $227,556 with a cap rate of 4.14%. While the cap rate is low, this is an extremely rare property in Lyndhurst, NJ and probably best used by an end user or a developer to convert to residential housing. Such a change in zoning would be welcome by the community and should be easily achieved. Interested parties should contact Richard Leal, at 973-809-9426, the Skylemar Inc. representative for access to the building. Realtors are welcome and protected pending an agreed to and valid purchase price.
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Property Details
- Price per sqft: $331.48
- Year built: 1956
- Sale Type: Investment or Owner User
- Cap Rate: 4.14%
- Lot Size: 1.21 AC
- Building Class: B
- Property Subtype: Warehouse
- Parking Ratio: 3.02/1,000 SF
- Zoning: S-1 - Moderate Storage
Highlights
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- Located in Lyndhurst’s industrial corridor with convenient access to major highways, including the New Jersey Turnpike and Route 3.
- Features a single-story industrial building constructed in 1956, providing a functional layout for various operational needs.
- Positioned within close proximity to the Meadowlands Sports Complex and Newark Liberty International Airport, supporting logistics/distribution ops.
- Situated in Bergen County, a well-established business hub with strong transportation infrastructure and access to a skilled labor force.
Property Taxes
- Parcel Number: 32-00103-0000-00001
- Land Assessment: $1,240,700
- Improvements Assessment: $1,161,700
- Total Assessment: $2,402,400
Agent
Richard Leal
Astor Realty
Location
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