Building Details

Buildings 2

Tenancy Single

Abandoned No

Listing Agency: The Blau & Berg Company Show Phone

Listed By: Jason M. Crimmins Show Phone

Source: Moodyscre

Added: May 11 Changed: Oct 11 Last Checked: Oct 16 at 10:34AM

Report an Issue

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 The Blau & Berg Company

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This showroom property at 163 Main St. includes approximately 10,082 square feet across two buildings, with two floors excluding the cellar. The improvements provide office areas, display space, and storage for vehicles, supported by clear ceiling heights ranging from 12 feet to 14 feet. The 1.51-acre site also offers 185 feet of frontage along Main Street.

The property is located in Gladstone, New Jersey, and is zoned VN, Village Neighborhood. Permitted uses identified for the site include mixed-use, retail, service and repair, personal service, other various, and commercial uses. The combination of building area, frontage, and automotive-oriented improvements supports a range of showroom and service-related configurations.

Key Highlights

• Approximately 10,082 SF across 2 buildings
• 1.51 AC total site area with 185’ frontage along Main Street
• Two floors, excluding cellar

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$143,903

Cap Rate

4.88%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,878,060 $2.9M

Cap Rate 7%

$2,055,757 $2.1M

Cap Rate 9%

$1,598,922 $1.6M

Is this asking price fair?

Market Conditions

NOI Build-Up for 10,082 SF

Gross rent

$217.8K $21.60/SF

− Vacancy

−$12.2K −$1.21/SF

EGI

$205.6K $20.39/SF

− OpEx

−$61.7K −$6.12/SF

NOI

$143.9K $14.27/SF

Area

Somerset 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 Rate 5%

$2,878,060

Cap Rate 7%

$2,055,757

Cap Rate 9%

$1,598,922

Alternative Uses

Best Use

Retail

$2.06M

$1.80M – $2.40M (±1% cap)

NOI $143,903 @ 7.0% cap · market cap 4.88%

Second Best

Industrial

$1.62M

$1.41M – $1.89M (±1% cap)

NOI $113,163 @ 7.0% cap · market cap 3.84%

Theoretical Best

Office A

$2.63M

$2.30M – $3.07M (±1% cap)

NOI $184,283 @ 7.0% cap · market cap 6.25%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Showrooms

Suggested Use

Top Pick Big Box & Wholesale Store Auto Parts Store Building Supply (Bike/Boat/Book/etc) Store Bakery Electrical Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Single-tenant

Tenancy

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

215

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 07977, NJ

939

Population

263

Households

3.6

Avg Household Size

30

Median Age

62%

College-Educated

97%

High-School Grad

2.0 sq mi

ZIP Area

470

Density / Sq Mi

$798,600

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Frequently Asked Questions

What type of property is this?

Showroom - Two-building commercial property combines customer-facing display space with office, vehicle storage, and automotive service potential.

Where is this showroom located?

The property is located at 163 Main St Gladstone, NJ.

What is the asking price?

The asking price for this property is $2,950,000.

What are key features of this property?

This property features: Approximately 10,082 SF across 2 buildings; 1.51 AC total site area with 185’ frontage along Main Street; Two floors, excluding cellar