360 Florence | 360 Florence Ave
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360 Florence 360 Florence Ave
15,000 SF 100% Leased Office Building Hillside, NJ 07205 $9,500,000 ($633/SF)
Investment Highlights
- Easy access highways
- Close to Port Newark
Executive Summary
Excellent Investment Opportunity with Value Add. 5 acres total. 2 office buildings and a garage/warehouse. Tenants renewed leases for 5 years during summer 2024. BrightView Holdings in a publicly traded company and leases out the warehouse space and 5000 sq ft of office space. NJ Labs leases out another 5000 sq ft of office space. The final 5000 sq ft is divided into a "Work Space" area. As is the property generates $51,500 per month. There is 1.5 acres of grass area that has potential to be paved and used as parking/outdoor storage. Potential for an extra $20,000-$30,000 per month as IOS.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$618,000
|
$61.80
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $618,000 |
| Annual Per SF | $61.80 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
15,000 SF
Building Class
B
Year Built
1966
Price
$9,500,000
Price Per SF
$633
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
5,000 SF
Zoning
LI
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
- Bright View Landscaping
- Construction
- -
- -
- -
- -
- Garden State Labs
- Health Care and Social Assistance
- 5,000 SF
- -
- Triple Net
- Jul 2024
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
| Bright View Landscaping | Construction | - | - | - | - | |
| Garden State Labs | Health Care and Social Assistance | 5,000 SF | - | Triple Net | Jul 2024 |
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Walk Score ®
Very Walkable (80)
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360 Florence | 360 Florence Ave
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