Two-Storefront Retail
For Sale
Contact for pricing
Pending
174-176 Front Street # 176, South Plainfield, NJ 07080
Separate utilities support flexible use across both storefront spaces.
Property Size1,200 SF
Days on Market620
Property Features for 174-176 Front Street # 176
General Information
Standard status
Pending
Size
1,200 SF
Total Parking Spaces
8
Property subtype
Office, Retail
Additional Details
Utilities to Site
Yes
Building Details
Stories
1
Tenancy
Multi
Listing Agency:
JACK PEDERSEN REALTY
(908) 755-8300
Listed By:
ABDUL ABDULLAH
Source:
Crexi
Added: Dec 20, 2024
Changed: Aug 31
Last Checked: Aug 31 at 8:50PM
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 JACK PEDERSEN REALTY
Investment Insights
Based on property information with market context.
This retail property includes two storefront spaces totaling approximately 1,200 square feet, with each area measuring about 600 square feet. The units are arranged as distinct 20-by-30-foot spaces based on outside dimensions, and each storefront has its own utilities.
The property is located on Front Street in South Plainfield’s Historic Downtown District. Occupancy is partial, with a long-standing tenant in place, providing an existing occupancy component alongside the available space.
The property is located on Front Street in South Plainfield’s Historic Downtown District. Occupancy is partial, with a long-standing tenant in place, providing an existing occupancy component alongside the available space.
Key Highlights
- Two storefront spaces totaling approximately 1,200 SF
- Each storefront is approximately 600 SF
- Separate utilities serve the two storefronts
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
$17,128
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
4.89%
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%
$342,560
$342.6K
Cap Rate 7%
$244,686
$244.7K
Cap Rate 9%
$190,311
$190.3K
Market Conditions
NOI Build-Up for 1,200 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
$25.9K $21.60/SF
− Vacancy
−$1.5K −$1.21/SF
EGI
$24.5K $20.39/SF
− OpEx
−$7.3K −$6.12/SF
NOI
$17.1K $14.27/SF
Area
Middlesex 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%
$342,560
Cap Rate 7%
$244,686
Cap Rate 9%
$190,311
Alternative Uses
Best Use
Retail
$244.7K
$214.1K – $285.5K
NOI $17,128 @ 7.0% cap · market cap 4.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$313.3K
$274.2K – $365.6K
NOI $21,934 @ 7.0% cap · market cap 6.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
634
Businesses Nearby
38k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 61%
Dining 39%
Dunkin' Donuts
Dining
12,082 visits/mo
0.2 miles
Dollar General
Shops & Services
8,637 visits/mo
0.1 miles
TD Bank
Shops & Services
6,602 visits/mo
0.4 miles
The UPS Store
Shops & Services
4,554 visits/mo
0.2 miles
Exxon
Shops & Services
2,456 visits/mo
0.4 miles
Demographics for 07080, NJ
24,261
Population
8,433
Households
2.9
Avg Household Size
41
Median Age
42%
College-Educated
93%
High-School Grad
8.2 sq mi
ZIP Area
2,959
Density / Sq Mi
$126,161
Median Household Income
$61,777
Median Earnings
$1,928
Median Rent
$444,100
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Storefront property - Separate utilities support flexible use across both storefront spaces.
Where is this storefront property located?
The property is located at 174-176 Front Street # 176 South Plainfield, NJ.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Two storefront spaces totaling approximately 1,200 SF; Each storefront is approximately 600 SF; Separate utilities serve the two storefronts
