275 Morristown Rd Long Hill, NJ 07933

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.