Building Details

Building Size 6,810 SF

Year Built 2016

Listing Agency: Matthews Real Estate Investment Services | Dallas

Listed By: Josh Bishop · License #688810 (TX) Show Phone

Source: Matthews

Added: Jun 17 Changed: Oct 2 Last Checked: Oct 16 at 5:43AM

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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 Matthews Real Estate Investment Services | Dallas

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This retail storefront contains 6,810 square feet and was built in 2016. The property is associated with Advance Auto Parts and carries an NNN lease structure, providing a defined commercial occupancy framework.

The building is located at 1130 Route 46 in Ledgewood, New Jersey, within the New York City metropolitan statistical area. Advance Auto Parts operates under a national automotive aftermarket retail platform serving professional installers and do-it-yourself customers through its Advance Auto Parts and Carquest brands.

Key Highlights

• 6,810‑square‑foot retail storefront
• Constructed in 2016
• NNN lease structure

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$97,201

Cap Rate

4.25%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,944,020 $1.9M

Cap Rate 7%

$1,388,586 $1.4M

Cap Rate 9%

$1,080,011 $1.1M

Is this asking price fair?

Market Conditions

NOI Build-Up for 6,810 SF

Gross rent

$147.1K $21.60/SF

− Vacancy

−$8.2K −$1.21/SF

EGI

$138.9K $20.39/SF

− OpEx

−$41.7K −$6.12/SF

NOI

$97.2K $14.27/SF

Area

Morris 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 Rate 5%

$1,944,020

Cap Rate 7%

$1,388,586

Cap Rate 9%

$1,080,011

Alternative Uses

Best Use

Retail

$1.39M

$1.22M – $1.62M (±1% cap)

NOI $97,201 @ 7.0% cap · market cap 4.25%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.78M

$1.56M – $2.07M (±1% cap)

NOI $124,476 @ 7.0% cap · market cap 5.44%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Storefront properties

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Hair Salon Grocery & Convenience Store Locksmith Food Market HVAC Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

101

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 07852, NJ

3,723

Population

1,629

Households

2.3

Avg Household Size

45

Median Age

60%

College-Educated

95%

High-School Grad

3.6 sq mi

ZIP Area

1,034

Density / Sq Mi

$90,924

Median Household Income

$70,682

Median Earnings

$1,476

Median Rent

$424,900

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Frequently Asked Questions

What type of property is this?

Storefront property - NNN-leased retail property associated with Advance Auto on Route 46 in Ledgewood.

Where is this storefront property located?

The property is located at 1130 Route 46 Ledgewood, NJ.

What is the asking price?

The asking price for this property is $2,287,886.

What are key features of this property?

This property features: 6,810‑square‑foot retail storefront; Constructed in 2016; NNN lease structure