Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1932 Pennington Rd Ewing, NJ

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    83,000 SF retail center with direct access to TCNJ.

    Type:RETAIL
    Property size:
    6,817 SF
    Lot size:
    0.67 Acres
    Added:
    Sep 22, 2025
    Days on Market:
    193
    Last Refresh:
    Mar 29 at 9:01 pm

    Property Features for 1932 Pennington Rd

    General Information

    Standard status
    Active
    Size
    6,817 SF
    Lot size
    0.67 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 1932 Pennington Rd Contact us

    We can help!

    Listing Contact
    Gerard J. Fennelly

    Listing agent Gerard J. Fennelly

    Listing office Fennelly Associates

    Listing date Sep 22, 2025

    Source Moodyscre

    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 Fennelly Associates

    Overview

    Retail Center Near TCNJ Campus

    The Shoppes at Campus Town is an 83,000 SF retail center located on the edge of The College of New Jersey (TCNJ) along Route 31. Upper floors provide private off-campus housing for TCNJ students, with on-site management and maintenance. The property has direct access to the TCNJ campus, which has over 10,000 students, faculty members, and staff. It is located less than one mile from Princeton South Corporate Park and offers access to Capital Health Systems, Merrill Lynch, and Rider College. Available for rent is a 6,817 square foot retail space.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Shopping centers

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • 630 Market place Blvd. Hamilton, NJ — 1603 Parkside Ave., Ewing Township, NJ 08638
    • Ewing Plaza — 1980 N Olden Ave, Ewing Township, NJ 08618

    Location Insight

    • Map
    • Local Demand
    City
    Ewing
    County
    Mercer
    State
    New Jersey
    Longitude
    -74.7835
    Latitude
    40.2674

    Nearby Similar for Lease

    • Contact for pricing

      Renovated Retail/Office Space Available

      Renovated retail/office space for lease in Ewing, NJ.
      610 BEAR TAVERN Road, EWING, NJ 08628
      View Details
    • $18/mo

      Ewing Professional Park Office Suites

      Professional and medical office suites available for lease in Ewing.
      1901 N OLDEN AVE, EWING, NJ 08618
      View Details
    • Contact for pricing

      Ewing Township Commercial Leasing Opportunity

      Versatile corner property ideal for auto-related, fleet, or service businesses.
      58 Weber, EWING, NJ 08638
      View Details
    • Contact for pricing

      Renovated Office/Medical Space Available

      Completely renovated office/medical space with modern amenities for rent.
      1072-1076 Parkway Ave #1074, EWING, NJ 08628
      View Details
    • $15/mo

      Retail Storefront with Display Windows

      Divisible retail space featuring display windows and ample parking.
      18 Arctic Pkwy, Ewing, NJ
      View Details
    • $1.62/mo

      Ewing Flex Space For Lease

      Flexible office and warehouse spaces suitable for various business needs.
      19 Lexington Ave, Ewing, NJ, 08618-2300
      View Details
    • Contact for pricing

      Ewing Warehouse/Office Space Available

      7,931 SF warehouse/office space for lease in Ewing, NJ.
      31 Lexington, EWING, NJ 08618
      View Details
    • $18/mo

      Ewing Retail Space Available

      Retail space available for lease in Ewing, New Jersey.
      183-197 Scotch Rd, Ewing, NJ
      View Details
    • Contact for pricing

      Warehouse with Outdoor Storage

      Single-story warehouse with office area and drive-in door.
      10 Industry Ct, Ewing, NJ
      View Details
    • Contact for pricing

      Commercial Space with Paved Lots

      Commercial space with office, bays, and two paved lots.
      327 Stokes Ave, Ewing, NJ, 08638-3731
      View Details
    • Contact for pricing

      Ewing Office and Retail Spaces

      Office and retail spaces available for lease in Ewing.
      1320 Parkway Ave, Ewing, NJ
      View Details
    • $12/mo

      Ewing Warehouse with Built-Out Office

      Warehouse with 2,500 SF office space and four overhead doors.
      1445 Lower Ferry Rd, Ewing, NJ
      View Details

    FAQs

    What type of property is this?
    Shopping center - 83,000 SF retail center with direct access to TCNJ.
    Where is this shopping center located?
    The property is located at 1932 Pennington Rd Ewing, NJ.
    What is the lease rate?
    The lease rate is $26 SF/Yr.
    What are key features of this property?
    This property features: Direct access to TCNJ Campus with over 10,000 students, faculty members and staff; Private off‑campus housing for TCNJ students; Benefit from on‑site management & maintenance
    (609) 306-3158 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Gerard J. Fennelly
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!