Two-Unit Retail
For Sale
Contact for pricing
160 US-46, Lodi, NJ 07644
Retail property with dedicated parking, two suites, and an upcoming tenant vacancy for potential owner occupancy.
Property Size3,082 SF
Lot Size0.48 Acres
Price / SF$438.03
Days on Market143
Property Features for 160 US-46
General Information
Standard status
Active
Size
3,082 SF
Lot size
0.48 Acres
Property subtype
Retail
Occupancy
100%
Lease Type
Modified Gross
Net Operating Income
$60,264
Site & Location
Corner Location
Yes
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1987
Buildings
1
Stories
1
Units
2
Tenancy
Multi
Listing Agency:
Horvath & Tremblay
(201) 215-1801
Listed By:
Michael Lombardi · License #0569706
Source:
Crexi
Added: Apr 10
Changed: Aug 30
Last Checked: Aug 30 at 10:55AM
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 Horvath & Tremblay
Investment Insights
Based on property information with market context.
This retail offering includes a 3,082-square-foot, two-suite building constructed in 1987 on a 0.37-acre parcel, together with a separate 0.11-acre parcel used for parking. Current occupants are Avis/Budget Car Rental and Absolute Insurance, providing an operating tenant base while preserving near-term flexibility. Avis/Budget has two years remaining on its lease and receives 2.5% annual rent increases. Absolute Insurance is scheduled to leave at the end of its current term on 10/31/2026.
The property fronts US Route 46 East at Christopher Street in Lodi, New Jersey, along a commercial and commuter corridor. Interstate 80 and Route 17 are located just minutes away, supporting regional access. The surrounding setting includes densely populated residential neighborhoods, national retailers, local businesses, and dining options. Paramus and Hackensack are also nearby. The configuration supports continued retail occupancy, owner use of the future vacancy, or leasing the available suite to a replacement tenant.
The property fronts US Route 46 East at Christopher Street in Lodi, New Jersey, along a commercial and commuter corridor. Interstate 80 and Route 17 are located just minutes away, supporting regional access. The surrounding setting includes densely populated residential neighborhoods, national retailers, local businesses, and dining options. Paramus and Hackensack are also nearby. The configuration supports continued retail occupancy, owner use of the future vacancy, or leasing the available suite to a replacement tenant.
Key Highlights
- 3,082‑square‑foot retail building with two suites on a 0.37‑acre parcel
- Separate 0.11‑acre parcel dedicated to parking
- Avis/Budget lease includes two years of term remaining and 2.5% annual rent increases
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
$43,990
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
3.26%
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%
$879,800
$879.8K
Cap Rate 7%
$628,429
$628.4K
Cap Rate 9%
$488,778
$488.8K
Market Conditions
NOI Build-Up for 3,082 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
$66.6K $21.60/SF
− Vacancy
−$3.7K −$1.21/SF
EGI
$62.8K $20.39/SF
− OpEx
−$18.9K −$6.12/SF
NOI
$44.0K $14.27/SF
Area
Bergen 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%
$879,800
Cap Rate 7%
$628,429
Cap Rate 9%
$488,778
Alternative Uses
Best Use
Retail
$628.4K
$549.9K – $733.2K
NOI $43,990 @ 7.0% cap · market cap 3.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$804.8K
$704.2K – $938.9K
NOI $56,334 @ 7.0% cap · market cap 4.17%
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
1,157
Businesses Nearby
154k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 46%
Dining 34%
Groceries 19%
Apparel 1%
Dunkin' Donuts
Dining
34,112 visits/mo
0.3 miles
Stop & Shop
Groceries
29,665 visits/mo
0.2 miles
QuickChek
Shops & Services
21,132 visits/mo
0.5 miles
Dollar Tree
Shops & Services
11,028 visits/mo
0.3 miles
BP
Shops & Services
10,273 visits/mo
0.4 miles
Demographics for 07644, NJ
26,206
Population
9,864
Households
2.7
Avg Household Size
39
Median Age
28%
College-Educated
85%
High-School Grad
2.3 sq mi
ZIP Area
11,394
Density / Sq Mi
$84,570
Median Household Income
$48,142
Median Earnings
$1,675
Median Rent
$449,200
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 - Retail property with dedicated parking, two suites, and an upcoming tenant vacancy for potential owner occupancy.
Where is this retail space located?
The property is located at 160 US-46 Lodi, NJ.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 3,082‑square‑foot retail building with two suites on a 0.37‑acre parcel; Separate 0.11‑acre parcel dedicated to parking; Avis/Budget lease includes two years of term remaining and 2.5% annual rent increases
