Retail Space in Palisades
For Sale
$249,000
100 Old Palisade #CU1, Fort Lee, NJ 07024
Retail space in a residential building with parking included.
Property Size653 SF
Price / SF$381.32
Days on Market313
Property Features for 100 Old Palisade #CU1
General Information
Standard status
Active
Size
653 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$8,603
Amenities
Central Air Heating
Electric Heating
Listing Agency:
HYST REALTY GROUP, LLC
(201) 482-8848
Listed By:
JUNGAE YOO
Source:
Corcoran
Added: Oct 23, 2025
Changed: Aug 31
Last Checked: Aug 31 at 5:12PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of HYST REALTY GROUP, LLC
Investment Insights
Based on property information with market context.
Located in the Palisades Condo building in Fort Lee, this retail space offers a rare opportunity for ownership. The building includes 518 residential units and is pet-friendly. The ground-level space measures approximately 653 square feet. One indoor parking space is included with the property. This space is suitable for various business ideas.
Key Highlights
- Rare opportunity to own a retail space in The Palisades Condo.
- Located in the center of Fort Lee.
- One indoor parking space included.
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
$9,320
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
3.74%
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%
$186,400
$186.4K
Cap Rate 7%
$133,143
$133.1K
Cap Rate 9%
$103,556
$103.6K
Market Conditions
NOI Build-Up for 653 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
$14.1K $21.60/SF
− Vacancy
−$790 −$1.21/SF
EGI
$13.3K $20.39/SF
− OpEx
−$4.0K −$6.12/SF
NOI
$9.3K $14.27/SF
Area
Bergen 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%
$186,400
Cap Rate 7%
$133,143
Cap Rate 9%
$103,556
Alternative Uses
Best Use
Retail
$133.1K
$116.5K – $155.3K
NOI $9,320 @ 7.0% cap · market cap 3.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$170.5K
$149.2K – $198.9K
NOI $11,936 @ 7.0% cap · market cap 4.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,755
Businesses Nearby
169k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 50%
Shops & Services 25%
Groceries 24%
Beauty & Spa 1%
ACME Markets
Groceries
40,671 visits/mo
0.5 miles
McDonald's
Dining
30,598 visits/mo
0.5 miles
Paris Baguette
Dining
22,490 visits/mo
0.3 miles
Starbucks
Dining
15,688 visits/mo
0.4 miles
Citibank
Shops & Services
14,931 visits/mo
0.4 miles
Demographics for 07024, NJ
40,171
Population
19,748
Households
2
Avg Household Size
46
Median Age
65%
College-Educated
95%
High-School Grad
2.5 sq mi
ZIP Area
16,068
Density / Sq Mi
$105,594
Median Household Income
$71,008
Median Earnings
$2,257
Median Rent
$422,200
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail space in a residential building with parking included.
Where is this retail space located?
The property is located at 100 Old Palisade #CU1 Fort Lee, NJ.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: Rare opportunity to own a retail space in The Palisades Condo.; Located in the center of Fort Lee.; One indoor parking space included.
