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45 Mill St 141,650 SF Industrial Building Mays Landing, NJ 08330 $14,435,715 CAD ($101.91 CAD/SF) 8.26% Cap Rate
Executive Summary
Reach out to Broker for Offering Memorandum
*NOI & Pricing Inclusive of Solar Income
• Credit Profile: Wholly owned subsidiary of James Hardie Industries (NYSE: JHX), a leading global building materials company with approximately $4B in annual revenue and an investment-grade (BBB-) credit profile.
•NNN Lease with Scheduled Rent Escalations: ±6.5 years of remaining term with (2) 5-year options at FMV provide stable income with built in annual rent growth and minimal landlord responsibilities.
•Mission-Critical Facility: Company headquarters housing 100% of operations and revenue generation, with approximately $3,500,000 invested in 2018 into upgrading and building out the facility to meet the Company's operational needs.
•Solar Array Income & Bonus Depreciation: The offering includes a recently installed rooftop solar array that generates supplemental income through a power purchase agreement and may also qualify for bonus and accelerated depreciation.
*NOI & Pricing Inclusive of Solar Income
• Credit Profile: Wholly owned subsidiary of James Hardie Industries (NYSE: JHX), a leading global building materials company with approximately $4B in annual revenue and an investment-grade (BBB-) credit profile.
•NNN Lease with Scheduled Rent Escalations: ±6.5 years of remaining term with (2) 5-year options at FMV provide stable income with built in annual rent growth and minimal landlord responsibilities.
•Mission-Critical Facility: Company headquarters housing 100% of operations and revenue generation, with approximately $3,500,000 invested in 2018 into upgrading and building out the facility to meet the Company's operational needs.
•Solar Array Income & Bonus Depreciation: The offering includes a recently installed rooftop solar array that generates supplemental income through a power purchase agreement and may also qualify for bonus and accelerated depreciation.
Property Facts
| Price | $14,435,715 CAD | Rentable Building Area | 141,650 SF |
| Price Per SF | $101.91 CAD | No. Stories | 2 |
| Sale Type | Investment NNN | Year Built/Renovated | 1963/2018 |
| Cap Rate | 8.26% | Tenancy | Single |
| Sale Condition | 1031 Exchange | Parking Ratio | 1.31/1,000 SF |
| Property Type | Industrial | Clear Ceiling Height | 20’ |
| Property Subtype | Warehouse | No. Dock-High Doors/Loading | 5 |
| Building Class | B | No. Drive In / Grade-Level Doors | 6 |
| Lot Size | 11.99 AC | ||
| Zoning | Commercial | ||
| Price | $14,435,715 CAD |
| Price Per SF | $101.91 CAD |
| Sale Type | Investment NNN |
| Cap Rate | 8.26% |
| Sale Condition | 1031 Exchange |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | B |
| Lot Size | 11.99 AC |
| Rentable Building Area | 141,650 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1963/2018 |
| Tenancy | Single |
| Parking Ratio | 1.31/1,000 SF |
| Clear Ceiling Height | 20’ |
| No. Dock-High Doors/Loading | 5 |
| No. Drive In / Grade-Level Doors | 6 |
| Zoning | Commercial |
Amenities
- Fenced Lot
- Mezzanine
- Signage
- Air Conditioning
- Solar Panels
Utilities
- Lighting
- Gas - Natural
- Water - City
- Sewer - City
- Heating - Gas
Somewhat walkable
30/100
Exceptionally drivable
90/100
Minimal public transit
10/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 12-00732-0000-00059 | Improvements Assessment | $2,211,705 CAD |
| Land Assessment | $726,154 CAD | Total Assessment | $2,937,859 CAD |
Property Taxes
Parcel Number
12-00732-0000-00059
Land Assessment
$726,154 CAD
Improvements Assessment
$2,211,705 CAD
Total Assessment
$2,937,859 CAD
Contacts
-
Thiago Delia -
Aria Pournazarian -
Brody Hess -
Matthews Real Estate Investment Services
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