Route 31 Retail
For Sale
Contact for pricing
101 NJ-31, Pennington, NJ 08534
12,000 SF building on almost four acres.
Property Size12,000 SF
Lot Size4.00 Acres
Price / SF$332.92
Days on Market1051
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Property Features for 101 NJ-31
General Information
Standard status
Active
Size
12,000 SF
Lot size
4.00 Acres
Property subtype
Retail
Zoning
IC
Listing Agency:
Bonanni Realtors
Listed By:
Jamie Walter · License #NJ 9909570
(609) 586-4300
Source:
Crexi
Added: Nov 29, 2023
Changed: Oct 7
Last Checked: Oct 14 at 8:10PM
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 Bonanni Realtors
Investment Insights
Based on property information with market context.
Located on Route 31 in Pennington, this property features a 12,000 square foot building situated on almost four acres of land. The property is suitable for various uses including retail and restaurant. A long-established business currently occupies the premises, and the owner is willing to sell the business along with all equipment at inventory cost, or alternatively, sell the real estate independently.
Key Highlights
- 12,000 sq ft building on almost four acres of land.
- Located on Route 31 in Pennington.
- Long established business opportunity.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$179,448
Cap Rate
4.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,588,960
$3.6M
Cap Rate 7%
$2,563,543
$2.6M
Cap Rate 9%
$1,993,867
$2.0M
Market Conditions
NOI Build-Up for 12,000 SF
Gross rent
$269.3K $22.44/SF
− Vacancy
−$12.9K −$1.08/SF
EGI
$256.4K $21.36/SF
− OpEx
−$76.9K −$6.41/SF
NOI
$179.4K $14.95/SF
Area
Mercer County, NJ
Vacancy
4.80%
Lease Rate
$22.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,588,960
Cap Rate 7%
$2,563,543
Cap Rate 9%
$1,993,867
Alternative Uses
Best Use
Retail
$2.56M
$2.24M – $2.99M
NOI $179,448 @ 7.0% cap · market cap 4.49%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$3.86M
$3.38M – $4.50M
NOI $270,259 @ 7.0% cap · market cap 6.76%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
75
Businesses Nearby
Explore this area
Business Placement
Demographics for 08534, NJ
12,955
Population
5,107
Households
2.5
Avg Household Size
45
Median Age
72%
College-Educated
97%
High-School Grad
21.8 sq mi
ZIP Area
594
Density / Sq Mi
$180,491
Median Household Income
$94,154
Median Earnings
$2,106
Median Rent
$573,100
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Retail property - 12,000 SF building on almost four acres.
Where is this retail property located?
The property is located at 101 NJ-31 Pennington, NJ.
What is the asking price?
The asking price for this property is $3,995,000.
What are key features of this property?
This property features: 12,000 sq ft building on almost four acres of land.; Located on Route 31 in Pennington.; Long established business opportunity.
