Avenel Shopping Center For
For Sale
$3,300,000
1392 Saint Georges Avenue, Avenel, NJ 07001
Shopping center with stable tenants and long-term leases.
Property Size11,520 SF
Price / SF$286.46
Days on Market182
Property Features for 1392 Saint Georges Avenue
General Information
Standard status
Active
Size
11,520 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$73,245
Amenities
Central air
Driveway
Forced Air Heating
Hard Surface
Paved
Separate Furnaces Heating
Zoned Cooling
Building Details
Year Built
1991
Listing Agency:
KELLER WILLIAMS ELITE REALTORS
(732) 549-1998
Listed By:
KIRAN MALI
Source:
Corcoran
Added: Feb 21
Changed: Aug 21
Last Checked: Aug 22 at 6:49AM
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.
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
$164,428
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
4.98%
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%
$3,288,560
$3.3M
Cap Rate 7%
$2,348,971
$2.3M
Cap Rate 9%
$1,826,978
$1.8M
Market Conditions
NOI Build-Up for 11,520 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
$248.8K $21.60/SF
− Vacancy
−$13.9K −$1.21/SF
EGI
$234.9K $20.39/SF
− OpEx
−$70.5K −$6.12/SF
NOI
$164.4K $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%
$3,288,560
Cap Rate 7%
$2,348,971
Cap Rate 9%
$1,826,978
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 authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
769
Businesses Nearby
194k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 40%
Dining 35%
Home Improvements & Furnishings 25%
The Home Depot
Home Improvements & Furnishings
41,539 visits/mo
0.3 miles
Dollar Tree
Shops & Services
20,636 visits/mo
0.1 miles
McDonald's
Dining
20,397 visits/mo
0.4 miles
Wendy's
Dining
18,881 visits/mo
0.4 miles
Chase Bank
Shops & Services
13,850 visits/mo
0.2 miles
Demographics for 07001, NJ
16,920
Population
5,693
Households
3
Avg Household Size
36
Median Age
29%
College-Educated
88%
High-School Grad
3.7 sq mi
ZIP Area
4,573
Density / Sq Mi
$95,935
Median Household Income
$50,740
Median Earnings
$1,839
Median Rent
$351,200
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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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
Frequently Asked Questions
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.
