Untitled Document

Comments: A unique opportunity for a user and or investor to own a property with income from an established tenant as well as “SREC’s”* and cash flow from a solar cell system located in the roof of the building.

Building size: 14,270 square Feet

Owner Space: 7,270 square feet (would lease back or vacate)

Lot Size: 1.2 acres plus or minus Block35, Lot 7D

Year Built: 1960’s Original, complete renovation in 2006

Parking: 48 spaces

Loading: 2 T/G doors

Taxes: $19,538.81 2011 ($1.37 psf)

Zoning: L-I Limited Industrial Zone

40,000 Watt Stand-by Generator with automatic transfer switch included in sale.

Please be advised that Cardinal Land Properties, Inc. is the exclusive sales agent for a fully occupied 14,270+ square foot building located at 1121 Bristol Road, Mountainside, New Jersey. The building is steel and block construction. The building consists of approximately 40% office and utility space and the balance is warehouse space. There are two tenants at the premises one in 7,000 square feet and one in 7,270 sq. ft. (owner). The Owner’s space could be made available for a purchaser or the owner could remain and lease their space. The building has been completely refurbished both inside and outside in the last 5 years, including a new roof, building facade, new windows, HVAC, carpeting etc.

Solar Cells which will provide a revenue stream to the property in the form of “SREC’s”* of $15,000 in 2011 and continue at a 2% reduction each year. The solar cells also generate approximately $12,000 per year in electricity. The solar cells are installed on the roof of the property and would be included in the sale offering the unique opportunity to own a property with its own substantial source of revenue not subject to occupancy!

Income: $96,000 per year net rent, plus $15,000 per year from SREC’s* totaling $111,000.
An additional $12,000 per year in electricity generated as well.

Comments: Fully Sprinklered, gas fired heat in warehouse, Two electric services are present on site, one 400 AMP and one 200 AMP, 3 Phase Electric.

Prices and specifications subject to change without notice.
The information supplied above is from sources deemed reliable; however we can not guarantee the accuracy of the information. It is subject to change, errors, omissions, prior sale and/or withdrawal from market without notice.

The SREC Registration Program (SRP) is used to register the intent to install solar projects in New Jersey. Owners of solar projects MUST register their projects in the SRP program prior to the start of construction in order to establish the project’s eligibility to earn SRECs. Registration of the intent to participate in NJ's solar marketplace provides market participants with information about the pipeline of anticipated new solar capacity and insight into future SREC pricing.

After the registration is accepted, construction is complete, and final paperwork has been submitted and is deemed complete, the project is issued a New Jersey Certification Number which enables it to generate New Jersey SRECs.

Rebated projects being developed through the Renewable Energy Incentive Program (REIP) do not need to submit SRP materials, but will still be registered with the SREC tracking system upon system and REIP process completion.

How do SRECs work?

Each time a system generates 1,000 kWh of electricity an SREC is earned and placed in the customer's electronic account. SRECs can then be sold on the SREC tracking system, providing revenue for the first 15 years of the system's life. Electricity suppliers, the primary purchasers of SRECs, are required to pay a Solar Alternative Compliance Payment (SACP) if they do not meet the requirements of New Jersey’s Solar Renewable Portfolio Standard (RPS). One way they can meet their RPS requirements is by purchasing SRECs. As SRECs are traded in a competitive market, the price may vary significantly. The actual price of an SREC during a trading period can and will fluctuate depending on supply and demand.

We shall be glad to show the above property to you by advance appointment only. For an appointment, please call 973‑376‑0421.

Additional Information on our website www.cardinalproperties.com
Prices and specifications subject to change without notice.
The information supplied above is from sources deemed reliable; however we can not guarantee the accuracy of the information. It is subject to change, errors, omissions, prior sale and/or withdrawal from market without notice.