Listing Agency: REALTY EXECUTIVES PROPERTY SQUAD

Listed By: JOHANNA RIVERA Show Phone

Source: Goldstandardrealty

Added: Aug 1 Changed: Oct 9 Last Checked: Oct 7 at 1:06PM

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Investment Insights

Based on property information with market context.

This storefront retail business is offered with a complete ski shop operation, including ski boots, skis, snowboards, rental gear, accessories, and related equipment. The sale also includes inventory, customer relationships, and business goodwill, allowing a purchaser to acquire an operating retail concept rather than an empty space.

An established rental program is part of the offering, with rental contracts already in place and repeat seasonal customers associated with the business. The property is identified at 1253 Springfield Ave in New Providence Boro, New Jersey, providing a specific operating location for the retail and rental business.

Key Highlights

• Ski boots, skis, snowboards, accessories, and rental gear included
• Established ski rental program with contracts already in place
• Inventory, equipment, customer relationships, and goodwill included

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$21,410

Cap Rate

4.77%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$428,200 $428.2K

Cap Rate 7%

$305,857 $305.9K

Cap Rate 9%

$237,889 $237.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,500 SF

Gross rent

$32.4K $21.60/SF

− Vacancy

−$1.8K −$1.21/SF

EGI

$30.6K $20.39/SF

− OpEx

−$9.2K −$6.12/SF

NOI

$21.4K $14.27/SF

Area

Union 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%

$428,200

Cap Rate 7%

$305,857

Cap Rate 9%

$237,889

Alternative Uses

Best Use

Retail

$305.9K

$267.6K – $356.8K (±1% cap)

NOI $21,410 @ 7.0% cap · market cap 4.77%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$391.7K

$342.7K – $457.0K (±1% cap)

NOI $27,418 @ 7.0% cap · market cap 6.11%

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

Property Analytics

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Current Use

Storefront properties

Suggested Use

Top Pick Real Estate Agency Auto Repair Shop Nail Salon Pharmacy Law Firm Auto Parts Store

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

Lease Details

Turnkey business

Opportunity

Location Intelligence

Trade Area within ½ mile

507

Businesses Nearby

99k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 54% Groceries 30% Shops & Services 12% Beauty & Spa 2%

ACME Markets Groceries

29,601 visits/mo 0.2 miles

Starbucks Dining

16,135 visits/mo 0.1 miles

Dunkin' Donuts Dining

7,312 visits/mo 0.0 miles

Smashburger Dining

7,030 visits/mo 0.1 miles

The UPS Store Shops & Services

6,417 visits/mo 0.1 miles

Demographics for 07974, NJ

13,122

Population

4,995

Households

2.6

Avg Household Size

43

Median Age

69%

College-Educated

96%

High-School Grad

4.0 sq mi

ZIP Area

3,281

Density / Sq Mi

$168,860

Median Household Income

$95,875

Median Earnings

$2,042

Median Rent

$726,000

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

Similar Off Market Nearby

• New Providence Flower Delivery — 39 south st, new providence, nj 07974

Frequently Asked Questions

What type of property is this?

Storefront property - Retail storefront business with ski inventory, rental equipment, and an established seasonal rental program.

Where is this storefront property located?

The property is located at 1253 Springfield Ave New Providence, NJ.

What is the asking price?

The asking price for this property is $449,000.

What are key features of this property?

This property features: Ski boots, skis, snowboards, accessories, and rental gear included; Established ski rental program with contracts already in place; Inventory, equipment, customer relationships, and goodwill included