Renovating Multi-Tenant Retail
1190 Pompton Ave, Cedar Grove, NJ 07009
For Sale
New
Contact for pricing
RC-zoned space accommodates individual storefronts or a larger tenant configuration.
Property Size8,757 SF
Price / SF$0.30
Days on Market2
Property Features for 1190 Pompton Ave
General Information
Standard status
Size
Zoning
Building Details
Year Built
Listing Agency:
RE/MAX SELECT
Listed By:
EFFTHIMIA DRIMONIS · License #1968820
(973) 650-3226
Source:
Luminancerealty
Added: Nov 8
Last Checked: Sep 16 at 8:22PM
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 RE/MAX SELECT
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Investment Insights
Based on property information with market context.
This retail property is undergoing interior and exterior renovation for a configuration of up to 6 storefronts. Individual spaces begin at 1,000 square feet, and a 4,400-square-foot area features 22-foot ceilings. A separate 1,650-square-foot second-floor space may be combined with a ground-floor unit or leased independently. The building contains 8,757 square feet and was built in 1997.
Located on Pompton Avenue in Cedar Grove Township, the property is zoned RC. Permitted uses listed for the zone include retail sales and services, business and professional services, daycare, and gym uses. Public water is available, and the site comprises 1.17 acres with parking.
Located on Pompton Avenue in Cedar Grove Township, the property is zoned RC. Permitted uses listed for the zone include retail sales and services, business and professional services, daycare, and gym uses. Public water is available, and the site comprises 1.17 acres with parking.
Key Highlights
- Up to 6 retail storefronts planned as part of the renovation
- Individual storefronts start at 1,000 square feet
- 4,400‑square‑foot area with 22‑foot ceilings
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$124,991
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,499,820
$2.5M
Cap Rate 7%
$1,785,586
$1.8M
Cap Rate 9%
$1,388,789
$1.4M
Market Conditions
NOI Build-Up for 8,757 SF
Gross rent
$189.2K $21.60/SF
− Vacancy
−$10.6K −$1.21/SF
EGI
$178.6K $20.39/SF
− OpEx
−$53.6K −$6.12/SF
NOI
$125.0K $14.27/SF
Area
Essex 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%
$2,499,820
Cap Rate 7%
$1,785,586
Cap Rate 9%
$1,388,789
Alternative Uses
Best Use
Retail
$1.79M
$1.56M – $2.08M
NOI $124,991 @ 7.0% cap · market cap 4,690.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.29M
$2.00M – $2.67M
NOI $160,064 @ 7.0% cap · market cap 6,006.15%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
488
Businesses Nearby
Explore this area
Business Placement
Demographics for 07009, NJ
13,014
Population
5,107
Households
2.5
Avg Household Size
46
Median Age
58%
College-Educated
97%
High-School Grad
4.2 sq mi
ZIP Area
3,099
Density / Sq Mi
$153,654
Median Household Income
$84,065
Median Earnings
$1,693
Median Rent
$600,800
Median Home Value
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Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Strip mall - RC-zoned space accommodates individual storefronts or a larger tenant configuration.
Where is this strip mall located?
The property is located at 1190 Pompton Ave Cedar Grove, NJ.
What are key features of this property?
This property features: Up to 6 retail storefronts planned as part of the renovation; Individual storefronts start at 1,000 square feet; 4,400‑square‑foot area with 22‑foot ceilings
