Freestanding Retail
For Sale
$630,000
137 S Rutherford Ave #137, Franklin, NJ 07416
HC-2 zoning accommodates retail, salon, daycare, pet care, and professional office uses.
Property Size3,328 SF
Price / SF$189.30
Days on Market85
Property Features for 137 S Rutherford Ave #137
General Information
Standard status
Active
Size
3,328 SF
Total Parking Spaces
28
Property subtype
Commercial
Zoning
HC-2
Building Details
Building Size
3,328 SF
Year Built
1920
Buildings
1
Stories
2
Units
1
Listing Agency:
Bhhs Gross And Jansen Realtors
(973) 729-8727
Listed By:
Kimberly Russo
Source:
Betterhomerealestate
Added: Jun 7
Changed: Aug 29
Last Checked: Aug 29 at 3:54PM
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 Bhhs Gross And Jansen Realtors
Investment Insights
Based on property information with market context.
This freestanding commercial building contains 3,328 SF arranged among several separate rooms and two bathrooms. The property was built in 1920 and previously operated as a hair salon, providing an existing layout suited to room-based commercial operations. On-site parking includes 28 spaces.
Located at 137 S Rutherford Ave in Franklin Boro, New Jersey, the property offers access and exposure along a high-traffic route. HC-2 zoning supports a broad range of stated uses, including retail, daycare, salon or spa services, pet care, and professional offices. The combination of flexible interior divisions, multiple bathrooms, dedicated parking, and commercial zoning creates a practical setting for a variety of retail and service-oriented businesses.
Located at 137 S Rutherford Ave in Franklin Boro, New Jersey, the property offers access and exposure along a high-traffic route. HC-2 zoning supports a broad range of stated uses, including retail, daycare, salon or spa services, pet care, and professional offices. The combination of flexible interior divisions, multiple bathrooms, dedicated parking, and commercial zoning creates a practical setting for a variety of retail and service-oriented businesses.
Key Highlights
- 3,328 SF freestanding commercial building
- Interior includes several separate rooms and 2 bathrooms
- 28 on‑site parking spaces
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
$47,501
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
7.54%
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%
$950,020
$950.0K
Cap Rate 7%
$678,586
$678.6K
Cap Rate 9%
$527,789
$527.8K
Market Conditions
NOI Build-Up for 3,328 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
$71.9K $21.60/SF
− Vacancy
−$4.0K −$1.21/SF
EGI
$67.9K $20.39/SF
− OpEx
−$20.4K −$6.12/SF
NOI
$47.5K $14.27/SF
Area
Sussex 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%
$950,020
Cap Rate 7%
$678,586
Cap Rate 9%
$527,789
Alternative Uses
Best Use
Retail
$678.6K
$593.8K – $791.7K
NOI $47,501 @ 7.0% cap · market cap 7.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$869.0K
$760.4K – $1.01M
NOI $60,831 @ 7.0% cap · market cap 9.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
215
Businesses Nearby
199k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 36%
Superstores 29%
Shops & Services 21%
Groceries 8%
Walmart
Superstores
58,080 visits/mo
0.4 miles
QuickChek
Shops & Services
24,510 visits/mo
0.3 miles
McDonald's
Dining
22,669 visits/mo
0.5 miles
Weis Markets
Groceries
16,856 visits/mo
0.3 miles
Wendy's
Dining
16,419 visits/mo
0.3 miles
Demographics for 07416, NJ
5,615
Population
2,837
Households
2
Avg Household Size
46
Median Age
22%
College-Educated
93%
High-School Grad
12.2 sq mi
ZIP Area
460
Density / Sq Mi
$90,869
Median Household Income
$50,978
Median Earnings
$1,346
Median Rent
$263,600
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - HC-2 zoning accommodates retail, salon, daycare, pet care, and professional office uses.
Where is this retail space located?
The property is located at 137 S Rutherford Ave #137 Franklin, NJ.
What is the asking price?
The asking price for this property is $630,000.
What are key features of this property?
This property features: 3,328 SF freestanding commercial building; Interior includes several separate rooms and 2 bathrooms; 28 on‑site parking spaces
