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209 Adams St
Riverside, NJ 08075

$1,265,000 USD

Warehouse For Sale  •  11,426 SF

Property Details

• Property Type Warehouse
• Total Building Size 11,426 SF
• Lot Size 1.02 AC
• Building Class C
• Year Built 1950
• Cap Rate 6.43 %
• Tenancy Single
• Zoning I-2

0 Transit Score

68 Walk Score

Highlights

The in-place NOI is only $81,302 or $7.12/SF. Market asking rents are in excess of $12/ft for comparable properties.

All tenants in the warehouse portion of the property are on month-to-month leases, and some small offices can be leased.

The warehouse portion is +/-8,700 SF across 7 units with a total of 10 roll-up doors; The +/-2,726 SF office building can be easily subdivided.

This property has a NJ Motor Vehicle Installment Seller License, which is very challenging to attain; It is held by NJ Motor Group.

Property is priced at only $110/SF - a significant discount to the cost of replacing the building, paving, and fencing.

Units are small, ranging from 600 to 2,500 SF; These are easier to lease and are maintaining historically low vacancy rates.

Cap Rate:

6.43 %

Public Transportation

Commuter Rail	Drive	Walk	Distance
Tacony (R7 - Southeastern Pennsylvania Transportation Authority Regional Rail (SEPTA Regional Rail))	14 min	-	6.7 mi
Holmesburg Junction (R7 - Southeastern Pennsylvania Transportation Authority Regional Rail (SEPTA Regional Rail))	16 min	-	7.8 mi
Transit/Subway	Drive	Walk	Distance
Riverside (River LINE - River LINE (River LINE))	1 min	8 min	0.4 mi
Airport	Drive	Walk	Distance
Philadelphia International	40 min	-	23.9 mi
Trenton Mercer	41 min	-	24.7 mi

Parking Details

Parking Available:	Yes
Reserved:	No
Spaces Provided:	10
Type:	Surface
Included in Rent:	Yes