B-3 Shopping Center with
For Sale
Under Contract
$3,300,000
1392 Saint Georges Avenue, Avenel, NJ 07001
Commercial Sale, Avenel, NJ
Property Size11,520 SF
Lot Size1.03 Acres
Price / SF$286.46
Days on Market204
Property Features for 1392 Saint Georges Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B-3
Parking
66
Parking features
Driveway
Standard status
Active Under Contract
APN
2500778000000021
Size
11,520 SF
Lot size
1.03 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
73245
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Zoned
Water source
Public
Building Details
Year built
1991
Floors in Building
1
Listing Agency:
KELLER WILLIAMS ELITE REALTORS · Keller Williams Realty
(732) 549-1998
Listed By:
Kiran Mali
(463) 250-3928
Added: Feb 20
Changed: Sep 12
Last Checked: Sep 12 at 9:06AM
MLS# 2611124R
Copyright © 2026 All Jersey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 11,520-square-foot shopping center was built in 1991 and includes three existing tenants. Recent property work includes roof improvements, new pavement across the parking area, and a newly installed HVAC unit serving one tenant. Forced-air heating and zoned cooling are in place, with public water and public sewer serving the property. On-site driveway parking is available, and the property is zoned B-3.
The 1.0331-acre site is located at 1392 Saint Georges Avenue in Avenel, New Jersey. Saint Georges Avenue carries surrounding national retail brands and provides a retail corridor setting. Existing lease arrangements continue under their current terms, with renewal dates extending through 2030, 2035, and 2047.
The 1.0331-acre site is located at 1392 Saint Georges Avenue in Avenel, New Jersey. Saint Georges Avenue carries surrounding national retail brands and provides a retail corridor setting. Existing lease arrangements continue under their current terms, with renewal dates extending through 2030, 2035, and 2047.
Key Highlights
- 11,520‑square‑foot shopping center on a 1.0331‑acre site
- Three existing tenants with lease renewal dates through 2030, 2035, and 2047
- B‑3 zoning with public water and public sewer
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$164,428
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.98%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,288,560
$3.3M
Cap Rate 7%
$2,348,971
$2.3M
Cap Rate 9%
$1,826,978
$1.8M
Market Conditions
NOI Build-Up for 11,520 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$248.8K $21.60/SF
− Vacancy
−$13.9K −$1.21/SF
EGI
$234.9K $20.39/SF
− OpEx
−$70.5K −$6.12/SF
NOI
$164.4K $14.27/SF
Area
Middlesex County, NJ
Vacancy
5.60%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,288,560
Cap Rate 7%
$2,348,971
Cap Rate 9%
$1,826,978
Alternative Uses
Best Use
Retail
$2.35M
$2.06M – $2.74M
NOI $164,428 @ 7.0% cap · market cap 4.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.01M
$2.63M – $3.51M
NOI $210,567 @ 7.0% cap · market cap 6.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
769
Businesses Nearby
194k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 40%
Dining 35%
Home Improvements & Furnishings 25%
The Home Depot
Home Improvements & Furnishings
41,539 visits/mo
0.3 miles
Dollar Tree
Shops & Services
20,636 visits/mo
0.1 miles
McDonald's
Dining
20,397 visits/mo
0.4 miles
Wendy's
Dining
18,881 visits/mo
0.4 miles
Chase Bank
Shops & Services
13,850 visits/mo
0.2 miles
Demographics for 07001, NJ
16,920
Population
5,693
Households
3
Avg Household Size
36
Median Age
29%
College-Educated
88%
High-School Grad
3.7 sq mi
ZIP Area
4,573
Density / Sq Mi
$95,935
Median Household Income
$50,740
Median Earnings
$1,839
Median Rent
$351,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Similar Off Market Nearby
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- Avenel St Plaza LLC — 495 Avenel St, Avenel, NJ 07001
- SLV Plaza — 1348-1352 St Georges Ave, Avenel, NJ 07001
- Kunal Plaza — 1333 St Georges Ave, Colonia, NJ 07067
Frequently Asked Questions
What type of property is this?
Shopping center - Three-tenant plaza with recent roof work, upgraded paving, and a newly installed HVAC unit.
Where is this shopping center located?
The property is located at 1392 Saint Georges Avenue Avenel, NJ.
What is the asking price?
The asking price for this property is $3,300,000.
What are key features of this property?
This property features: 11,520‑square‑foot shopping center on a 1.0331‑acre site; Three existing tenants with lease renewal dates through 2030, 2035, and 2047; B‑3 zoning with public water and public sewer
