Avenel Shopping Center For
1392 Saint Georges Avenue Avenel, NJ 07001
1392 Saint Georges Avenue, Avenel, NJ, 07001
$3,300,000
For Sale
$3,300,000
Shopping center with stable tenants and long-term leases.
Property Size11,520 SF
Price / SF$286.46
Days on Market150
Property Features for 1392 Saint Georges Avenue
General Information
- Standard status
- Active
- Size
- 11,520 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1991
Listing agency
KELLER WILLIAMS ELITE REALTORS
Listed by
KIRAN MALI
Source
Corcoran
Added: Feb 21 Updated: Jul 6 at 10:01AM Checked: Jul 21 at 5:55AM
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 KELLER WILLIAMS ELITE REALTORS
Investment Insights
Based on property information with market context.
This shopping center is available for purchase by investors. The property features stable tenants with leases renewable until 2030, 2035, and 2047. Prospective buyers are advised to conduct their own due diligence. Existing tenant leases will continue under the current terms. Financials and lease details are available upon formal request, accompanied by a buyer profile, proof of funds, and a non-disclosure agreement. Recent improvements include work on the roof, a new HVAC unit for one of the three tenants, and new pavement in the parking area. Ample on-site parking is available. The shopping plaza is located on busy Saint Georges Avenue, which features many national retail brands, ensuring good footfall for all tenants and continued patronage. The property has a size of 11520 square feet.
Key Highlights
- Located on busy St Georges Ave with high footfall and national retail brands.
- Stable tenants in place since 2022.
- Leases renewable until 2030/35/47.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $248.8k | $21.60 |
| − Vacancy | −$13.9k | −$1.21 |
| EGI | $234.9k | $20.39 |
| − OpEx | −$70.5k | −$6.12 |
| NOI | $164.4k | $14.27 |
11,520 SF · lease $21.60/SF/yr · vacancy 5.60% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.35M
$2.06M – $2.74M
NOI $164,428 @ 7.0% cap · market cap 4.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.01M
$2.63M – $3.51M
NOI $210,567 @ 7.0% cap · market cap 6.38%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Shopping centers
Similar For Sale Nearby
Similar Off Market Nearby
- Avenel Shopping Plaza — 516 Avenel St, Avenel, NJ 07001
- SLV Plaza — 1348-1352 St Georges Ave, Avenel, NJ 07001
- St. George Plaza (Avenel) — 1152 St Georges Ave, Avenel, NJ 07001
- Kunal Plaza — 1333 St Georges Ave, Colonia, NJ 07067
- Avenel St Plaza LLC — 495 Avenel St, Avenel, NJ 07001
FAQs
What type of property is this?
Shopping center - Shopping center with stable tenants and long-term leases.
Where is this shopping center located?
The property is located at 1392 Saint Georges Avenue Avenel, NJ.
What is the asking price?
The asking price for this property is $3,300,000.
What are key features of this property?
This property features: Located on busy St Georges Ave with high footfall and national retail brands.; Stable tenants in place since 2022.; Leases renewable until 2030/35/47.
