60 E Hanover Ave - Light Manufacturing FOR SALE


Morris Plains, NJ 07950
$10,500,000 USD
201-410-4268
60 E Hanover Ave, Morris Plains, NJ for Sale
$10,500,000 USD
Light Manufacturing - FOR SALE
1/13
null | 6.69% Cap Rate

60 E Hanover Ave
Morris Plains, NJ 07950


HIGHLIGHTS

  • THREE BUILDING INDUSTRIAL PARK LOCATED IN THE HEART OF MORRIS COUNTY
  • SPACES THAT RANGE BETWEEN 3200-7500SF. 46,000SF TOTAL
  • 100% OCCUPIED WITH 9 TENANTS
  • A TOTAL OF 11 DOCKS OR DRIVE-IN DOORS AT THE COMPLEX
  • 18" CLEAR CEILING
  • CONVENIENTLY LOCATED OFF OF ROUTE 287, PROVIDING ACCESS TO ROUTES 80, 46, 24 AND 10 WITHIN MINUTES.

OVERVIEW

The Morris Plains Business Park is a three building, 46,000sf industrial park located in the heart of Morris County, New Jersey. Built in 1986, this property sits on approximately 4.5 acres and houses 9 tenants in spaces that range between 3200- 7500sf. Additional income is derived from several tenants that utilize a portion of the expansive lots to park their vehicles. There are a total of 11 docks or drive-in doors at the complex: Building A( 2 drive-in), Building B ( 2 drive-in, 4 loading docks), Building C (3 loading docks). The tenant mix includes a diverse range of businesses, such as a school for autism, a fitness gym, a contractor, a biopharma company, and a pest control franchise, offering a stable and well-rounded tenant base. Most tenants pay a pro-rata share of CAM charges

FOR SALE DETAILS

PRICE

$10,500,000 USD

PRICE/SF

$227 USD /SF

CAP RATE

6.69%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Morris Plains Business Park

PROPERTY TYPE

Flex

PROPERTY SUBTYPE

Light Manufacturing

ADD'L SUBTYPES

Distribution, Manufacturing, Warehouse

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1986

UTILITIES

-

CLEAR CEILING HT

18 Ft

DOCKS

8

DRIVE INS

3

PARKING SPACES

-

LAND DETAILS

LAND ACRES

4.53

LAND SF

197,327

ZONING

I

APN/PARCEL ID

23-00011-0000-00002-01

ASK ABOUT THIS PROPERTY

Charles CollinsMarcus & MillichapMore Info
201-410-4268

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Charles CollinsMarcus & MillichapMore Info
201-410-4268

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.