Fully Occupied Retail
37 E 34th St Paterson, NJ
37 E 34th St, Paterson, NJ, 00000
Contact for pricing
For Sale
Contact for pricing
100% occupied retail center with major tenants and high traffic.
Property Size12,803 SF
Lot Size0.96 Acres
Price / SF$419.12
Days on Market576
Property Features for 37 E 34th St
General Information
- Standard status
- Active
- Size
- 12,803 SF
- Lot size
- 0.96 Acres
- Property subtype
- RETAIL
Listing Agency
Marcus & Millichap | New Jersey
(201) 742-6118
Listed by
Alan Cafiero · License #(S):NJ:0791092
(201) 742-6118
Source
Moodyscre
Added: Dec 20, 2024 Checked: Jul 19 at 2:18 am
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 Marcus & Millichap | New Jersey
Investment Insights
Based on property information with market context.
This 12,803 square foot retail center is 100% occupied by six tenants operating under NNN leases. Major tenants include Wing Stop and Bank of America, with branch deposits at Bank of America totaling $145 million. The property is situated along heavily trafficked McLean Boulevard, which sees over 41,800 vehicles per day. The location offers convenient access to Route 4, I-80, Route 21, Route 208, Route 46, and Route 3. Nearby national tenants include Burger King, 7-Eleven, Home Depot, Lowe's, McDonald's, and AutoZone. The surrounding area has a population of over 596,000 people within a 5-mile radius.
Key Highlights
- 100% occupied retail center
- Major tenants include Wing Stop and Bank of America
- High traffic location on McLean Boulevard (41,800+ VPD)
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $276.5k | $21.60 |
| − Vacancy | −$15.5k | −$1.21 |
| EGI | $261.1k | $20.39 |
| − OpEx | −$65.3k | −$5.10 |
| NOI | $195.8k | $15.29 |
12,803 SF · lease $21.60/SF/yr · vacancy 5.60% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$2.80M
$2.45M – $3.26M
NOI $195,794 @ 7.0% cap · market cap 3.65%
Second Best
Retail
$2.61M
$2.28M – $3.05M
NOI $182,741 @ 7.0% cap · market cap 3.41%
Theoretical Best
Office A
$3.34M
$2.93M – $3.90M
NOI $234,018 @ 7.0% cap · market cap 4.36%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Shopping centers
Similar For Sale Nearby
Similar Off Market Nearby
- Sunny Drug Health Clinic — 116 17th Ave, Paterson, NJ 07513
FAQs
What type of property is this?
Shopping center - 100% occupied retail center with major tenants and high traffic.
Where is this shopping center located?
The property is located at 37 E 34th St Paterson, NJ.
What is the asking price?
The asking price for this property is $5,366,000.
What are key features of this property?
This property features: 100% occupied retail center; Major tenants include Wing Stop and Bank of America; High traffic location on McLean Boulevard (41,800+ VPD)
