Building Details

Year Built 1970

Buildings 1

Stories 1

Listing Agency: KW Commercial/ Richardson Commercial Group s***@ccim.net Show Phone

Listed By: Steven Marusky, CCIM, GRI · License #NJ 7855828

Source: Crexi

Added: Mar 6 Changed: Aug 8 Last Checked: Aug 8 at 6:26AM

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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 KW Commercial/ Richardson Commercial Group

Investment Insights

Based on property information with market context.

This existing bank branch is located on an oversized 0.88-acre lot. The property includes frontage and parking for approximately 18 vehicles. The site offers opportunities for expansion or redevelopment due to its size. Several options exist for repurposing the property, including office space, retail establishments, or a day care center. The zoning also permits mixed-use development with owner-occupied residential units above one or more commercial uses on the first floor. The property size is 1710 square feet.

Key Highlights

• Oversized .88 acre lot offers expansion or redevelopment potential.
• Ample frontage and parking for 18± vehicles.
• Versatile zoning permits office, retail, or day care conversions.

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

$26,151

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

4.36%

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%

$523,020 $523.0K

Cap Rate 7%

$373,586 $373.6K

Cap Rate 9%

$290,567 $290.6K

Market Conditions

NOI Build-Up for 1,710 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

$36.9K $21.60/SF

− Vacancy

−$2.1K −$1.21/SF

EGI

$34.9K $20.39/SF

− OpEx

−$8.7K −$5.10/SF

NOI

$26.2K $15.29/SF

Area

Hunterdon County, NJ

Vacancy

5.60%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

25.00%

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%

$523,020

Cap Rate 7%

$373,586

Cap Rate 9%

$290,567

Alternative Uses

Best Use

Specialty Retail

$373.6K

$326.9K – $435.9K (±1% cap)

NOI $26,151 @ 7.0% cap · market cap 4.36%

Second Best

Retail

$348.7K

$305.1K – $406.8K (±1% cap)

NOI $24,407 @ 7.0% cap · market cap 4.07%

Theoretical Best

Office A

$446.5K

$390.7K – $520.9K (±1% cap)

NOI $31,256 @ 7.0% cap · market cap 5.21%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Columbia Bank Bank

Suggested Use

Top Pick Dental Office Law Firm Restaurant Hair Salon Building Supply Nail Salon

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

55

Businesses Nearby

Explore this area Business Placement

Demographics for 08829, NJ

3,566

Population

1,485

Households

2.4

Avg Household Size

41

Median Age

49%

College-Educated

97%

High-School Grad

2.4 sq mi

ZIP Area

1,486

Density / Sq Mi

$116,424

Median Household Income

$60,983

Median Earnings

$1,747

Median Rent

$298,600

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

Questions? Ask Rey

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What type of property is this? Where is this banks located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Bank - Versatile property suitable for redevelopment or repurposing in High Bridge.

Where is this bank located?

The property is located at 118 W Main St High Bridge, NJ.

What is the asking price?

The asking price for this property is $599,900.

What are key features of this property?

This property features: Oversized .88 acre lot offers expansion or redevelopment potential.; Ample frontage and parking for 18± vehicles.; Versatile zoning permits office, retail, or day care conversions.