Downtown Retail Storefront on Major
For Sale
$950,000
36 Old Highway 22, Clinton, NJ 08809
Storefront retail building on a 0.40-acre parcel with ample on-site parking and prominent visibility along Old Highway 22.
Property Size3,500 SF
Lot Size0.40 Acres
Price / SF$271.43
Days on Market110
Property Features for 36 Old Highway 22
General Information
Standard status
Active
Size
3,500 SF
Lot size
0.40 Acres
Property subtype
retail
Site & Location
Highway Access
Yes
Road Access
Yes
Listing Agency:
Parsippany
(917) 993-5515
Listed By:
David Townes · License #1644390
(917) 993-5515
Source:
Property.jll
Added: Apr 20
Changed: Jul 23
Last Checked: Aug 6 at 3:38AM
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 Parsippany
Investment Insights
Based on property information with market context.
Located at 36 Old Highway 22 in Clinton, NJ, this retail storefront property sits on a 0.40-acre parcel and features a 3,500 SF building designed to provide flexibility for a variety of retail uses. The site is positioned to support customer access, with ample on-site parking for visitors and staff.
The property’s visibility and convenience along Old Highway 22 help connect it to the area’s main thoroughfare, with proximity to Interstate 78 further enhancing accessibility. It also benefits from a downtown setting surrounded by established national and regional retailers, including Walgreens, Subway, and NAPA Auto Parts, supporting ongoing co-tenancy.
Block lot information is listed as 22/15.01.
The property’s visibility and convenience along Old Highway 22 help connect it to the area’s main thoroughfare, with proximity to Interstate 78 further enhancing accessibility. It also benefits from a downtown setting surrounded by established national and regional retailers, including Walgreens, Subway, and NAPA Auto Parts, supporting ongoing co-tenancy.
Block lot information is listed as 22/15.01.
Key Highlights
- Storefront retail building on a 0.40‑acre parcel with a 3,500 SF building
- Prominent visibility and convenient access along Old Highway 22
- Ample on‑site parking for customers and employees
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
$49,956
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
5.26%
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%
$999,120
$999.1K
Cap Rate 7%
$713,657
$713.7K
Cap Rate 9%
$555,067
$555.1K
Market Conditions
NOI Build-Up for 3,500 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
$75.6K $21.60/SF
− Vacancy
−$4.2K −$1.21/SF
EGI
$71.4K $20.39/SF
− OpEx
−$21.4K −$6.12/SF
NOI
$50.0K $14.27/SF
Area
Hunterdon 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 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%
$999,120
Cap Rate 7%
$713,657
Cap Rate 9%
$555,067
Alternative Uses
Best Use
Retail
$713.7K
$624.5K – $832.6K
NOI $49,956 @ 7.0% cap · market cap 5.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$913.9K
$799.7K – $1.07M
NOI $63,974 @ 7.0% cap · market cap 6.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
787
Businesses Nearby
75k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 75%
Shops & Services 25%
McDonald's
Dining
42,064 visits/mo
0.4 miles
Dunkin' Donuts
Dining
14,341 visits/mo
0.4 miles
PNC Bank
Shops & Services
8,101 visits/mo
0.2 miles
Bank of America
Shops & Services
5,884 visits/mo
0.0 miles
Napa Auto Parts
Shops & Services
2,096 visits/mo
0.1 miles
Demographics for 08809, NJ
7,255
Population
2,353
Households
3.1
Avg Household Size
44
Median Age
52%
College-Educated
92%
High-School Grad
6.9 sq mi
ZIP Area
1,051
Density / Sq Mi
$127,169
Median Household Income
$68,209
Median Earnings
$1,721
Median Rent
$413,400
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Greens & Beans — 19 1/2 Old Hwy 22, Clinton, NJ 08809
Frequently Asked Questions
What type of property is this?
Storefront property - Storefront retail building on a 0.40-acre parcel with ample on-site parking and prominent visibility along Old Highway 22.
Where is this storefront property located?
The property is located at 36 Old Highway 22 Clinton, NJ.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Storefront retail building on a 0.40‑acre parcel with a 3,500 SF building; Prominent visibility and convenient access along Old Highway 22; Ample on‑site parking for customers and employees
