For Sale
$900,000

275 Morristown RdLong Hill, NJ 07933

High-yield warehouse, 10% cap rate.

Overview

Added:
Dec 11, 2024
Days on market:
116
This Long Hill, NJ warehouse offers a compelling sale-leaseback opportunity with a strong 10% cap rate. The 8,636 square foot building, situated on a 2.87-acre lot, features two loading docks (one dock-high, one smaller), 20-foot ceilings, and a 5-year NNN lease with a current tenant, Engineered Plastic Products, Inc., paying $90,000 annually. The lease commenced May 1, 2024, and includes a 3% annual rent bump. The property includes a mezzanine office space, two restrooms (plus one decommissioned), and 240-amp, 3-phase power. HVAC is installed in the front of the building and the mezzanine office, with space heaters in the warehouse. The concrete-floored building is elevated on stilts to mitigate flood risk, although it is located in an AE flood zone (1% SFHA). Built in 1992, this single-story, two-building property presents a solid investment opportunity with a significant remaining lease term (approximately 4.4 years). The 2023 property taxes were $1.86 per square foot. This sale-leaseback transaction offers a secure income stream and potential for future appreciation.

Property Details for 275 Morristown Rd

Property type
Warehouses, Industrial properties
Square Feet
8,636 SF
Year Built
1992
Buildings
2
Stories
1
Lot Size (sq. ft)
125,017 SF

Location Insight

City
Long Hill
County
Morris
State
New Jersey
Latitude
40.673207791112
Longitude
-74.477990304264
275 Morristown Rd, Long Hill, New Jersey

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275 Morristown Rd
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