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The Depo

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Newark, NJ

Property Features

6.94 Acres Industrial Outdoor Storage

Ability to Pave, Fence & Light Site

Immediate Access to I-95

Minutes from Port Newark

Toll Free Access to Newark Int'l Airport

Local and Dense Labor Force

Proximity to Points of Interest

Route 1 & 9 (0.9 mi)

NJ Turnpike (2.3 mi)
Port Newark (3.2 mi)

I-78 (3.5 mi)

Newark Int'l AirportI287 (5.1 mi)
Holland Tunnel (6.6 mi)

Global Terminals (8.8 mi)

Lincoln Tunnel (9.5 mi)

Zoning

Heavy Industrial (I3)

Max Bldg. Height: 96 ft

Front Yard Setback: 6 ft

Side Yard Setback: 3 ft

Rear Setback: 50 ft (resi), 20 ft (non-resi)

Max Building FAR: 85%

Max Impervious Yard Area:  Rear Yard < 30% Front Yard <=55%

Option 1

Option 2

N

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Building Features

150,400 Sq. Ft. (640 ft x 235 ft)

72 Car Parking Spaces

37 Trailer Parking Spaces

14 Loading Docks ( 9 ft x 10 ft)

1 Drive-In (12 ft x 16 ft)

40 ft Clear Ceiling Heights

ESFR & LED Fixtures

54 ft x 56 ft Column Spacing

60 ft Speed Bays

Property Features

6.9 Acres

Ability to Fence, Pave, & Light Site

+/-200 Trails Stalls

Outdoor Storage is Permitted

$40,000 per acre per month 6.94 acres =

$3,331,200 per year

Value @ 5% Cap = $66,624,000

Costs

$44M Acquisition

$275,000 Demo

$3,150,000 Improvements

$47,425,000 Total

Projected Income

Projected Income

$32.00 psf x $150,400 sf =

$4,812,800 per year

Value @ 5% Cap = $96,256,000

Costs

$44M Acquisition

$275,000 Demo

$9,024,000 Improvements

$53,299,000 Total

Avenue
P
Avenue
P
Doremus
Avenue
Doremus
Avenue
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Port Newark

Container Terminal

APM Terminals

    Maher Terminals    

   Doremus Ave   

   Port Street   

   Corbin Street   

   Rangoon Street   

   McLester Ave   

   North Ave   

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Doremus Ave is a high load capacity road (120,000 lbs) allowing overweight trucks direct access from the port to the building.

Sale Comps

Address

1100 Newark Turnpike, Kearny NJ

10 Polito Ave, Lyndhurst NJ

1 Market Street, Elmwood Park NJ

176-192 McClellan Street, Newark NJ

105-135, 137, 149-159, 161 Hyatt Lane, Newark NJ

450 Broad Street, Newark NJ

67-85 Doremus Ave, Newark NJ

293-317 Roanoke Ave, Newark NJ

87-125 Doremus Ave, Newark NJ

127-167 Doremus Ave, Newark NJ

147-163 Doremus Ave, Newark NJ

740-768 Doremus Ave, Newark NJ

340-368 Avenue P, Newark NJ

370-406 Avenue P, Newark NJ

120 Frontage Road,  Newark NJ

Price

$67,300,000

$16,000,000

$67,690,000

$50,000,000

$62,937,977

$85,000,000

$6,300,000

$13,000,000

$17,300,000

$8,950,000

$2,950,000

$48,500,000 Total

$75,000,000

$1,468,000

$45,900,000

$47,368,000 Total

$62,750,000

Acres/Usable

9.3 / 6.9

4.64 / 4

11.87

9.08

22.28

8.00

3.51

1.82

9.81

2.03

0.32

17.49 Total

52.59 / 40

5.47 / 3.00

6.22

11.69 / 9.22 Total

4.49

$ per Acre

$7,236,559

$4,000,000

$5,702,612

$5,506,608

$2,824,864

$10,625,000

$1,794,872

$7,142,857

$1,763,507

$4,408,867

$9,218,750

$2,773,013 avg

$1,875,000

$489,333

$7,379,421

$4,052,010 avg

$13,975,501

Buyer

Real Term

Forsgate

Crow Holdings

LGE

GPB Capital

LGE

Terreno

Terreno

Terreno

Terreno

Terreno

Terreno

Duke

Kinross

Kinross

Kinross

LBA Realty

Date

Q4 '22

Q2 '22

Q2 '22

Q2 '22

Q2 '22

Q2' 21 

 

Q2'18

Q2 '22

Q2 '22

Q2 '22

Q2 '22

-

Q2 '21

Q4 '15

Q1 '06

Q1 '22

Comments

58,500 sf terminal building. Buyer is trying to remove rail.

Currently a hotel - buyer purchased as-is.  

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Surrounded/divided by cemetery's. 

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Division street divides this parcel.

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-

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-

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20-year ground lease in place at  $10k/acre/month

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Lineage logistics leases 210,000 sq. ft. (cold storage)

Alliance Group Int'l is single tenant occupying 76,000 sf ($825/sf)

Lease Comps (IOS)

Address

600 South River Road, Hackensack NJ

3 Avenue A, Carlstadt NJ

401 Commerce Road, Linden NJ

1540 Lower Road, Linden NJ

125 James Street, Jersey City NJ

Tenant

FedEx

CR Express Trucking

United Road Services

Penske

Old Dominion

Acreage

5.00

2.30

1.63

5.40

2.20

Improvements

35,000 sq. ft. building

Terminal Building

5,000 sq. ft. building

Service building

10,000 sq. ft. building

$/Month/Acre

$20,000

$24,500

$35,692

$30,000

$33,000

Annual Increases

3.00%

4.00%

3.00%

4.00%

3.00%

Term

15 years

8 years

5 years

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-

Date

Q2 '22 

Q1 '22

Q1 '22

Q1 '22

Q1 '22

Comments

Paved, lit, fenced 

Paved, lit, fenced

Paved & fenced

Paved, lit, fenced

Paved, lit, fenced

Permitted Uses

Convenience Retail Industrial (I3)

Data Center

Electrical or Gas Switching Facility, Power Distribution or Substation

Emergency Food Distribution Center, Food Pantry & Soup Kitchen

Governmental (Non-Municipal) Uses

Laundry Facility-Commercial/Wholesale

Manufacturing, Heavy

Manufacturing, Light

Manufacturing, Medium

Municipal Uses

Parking Garage, Commercial Vehicle

Power Generation Facilities

Research & Development

Solar Energy System

Telephone Switching Facility

Truck Terminal

Warehousing, Wholesaling & Distribution

Waste Transfer Station

Wholesale Bakeries

Wind Energy Systems, Large

Accessory Uses

Automotive Lifts

Composting

Parking Area, Private

Donation Bin

Offices

Parking, Structured

Conditional Uses

Automobile Paint & Body Repair

Automobile Repair & Tire Repair

Billboards

Cannabis Cultivator

Cannabis Delivery

Cannabis Distributor

Cannabis Manufacturer

Cannabis Wholesaler

Commercial, Industrial Truck & Bus Services

Commercial Antennas & Microwave Dishes

Crematorium, Animal

Dry Cleaning & Laundry Establishment

Exterminator/Pesticide Application Business

Gasoline Station

Live Animal Market

Materials Salvage or Junk Facility

Medical Marijuana Safety Compliance Facility

Medical Marijuana Manufacturing Facility

Medical Marijuana Cultivation Facility

Outdoor Storage

Outdoor Storage, Chemical

Recycling Center

 

Accessory Uses 

Commerical, Industrial Truck & Bus Wash

Outdoor Display Area

Outdoor Storage

Outdoor Storage, Chemical

Outdoor Storage, Portable Storage Units

Power Plant

Solar Energy Systems

Wind Energy Systems, Small

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