Retail Property on Route
For Sale
$7,000,000
2027-2029 Highway 35, Wall, NJ 07719
14,300 SF retail property with expansion possibilities on 6.25 acres.
Property Size14,300 SF
Lot Size6.25 Acres
Price / SF$489.51
Days on Market194
Property Features for 2027-2029 Highway 35
General Information
Standard status
Active
Size
14,300 SF
Lot size
6.25 Acres
Property subtype
Retail
Building Details
Building Size
14,300 SF
Year Built
2004
Listing Agency:
Sitar Realty Company Iselin
(908) 285-4322
Listed By:
Helena Loelius · License #8633017
(908) 285-4322
Source:
Sitarcompany
Added: Jan 27
Changed: Aug 8
Last Checked: Aug 8 at 1:22PM
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 Sitar Realty Company Iselin
Investment Insights
Based on property information with market context.
This retail property, constructed in 2004, offers 14,300 square feet of space on a 6.25-acre lot, with potential for upper-level expansion. The property includes 160 surface parking spaces. It is situated in a prime retail location with high visibility along Route 35, benefiting from an average daily traffic count of approximately 24,000 vehicles. The property has 292 feet of frontage on Route 35 and is zoned HB 120, which permits uses such as shopping centers, retailers, restaurants, medical facilities, offices, banks, and child care centers. Current co-tenants include Mossuto’s Market, The Prophet’s Blade, and XO Nail and Spa. Area tenants include Target, Jos A Banks, Staples, Starbucks, Ulta, Loft, Gap, Banana Republic, Acme, Whole Foods, Tommy’s Tavern and Tap, and Panera. The location provides convenient access to the Garden State Parkway, Routes 34, 71, 18, and 138. Approximately 5,300 square feet are available for lease.
Key Highlights
- Prime retail location with excellent visibility on Route 35 and high traffic count (±24,000 vehicles daily).
- 160 surface parking spaces.
- ±14,300 SF retail building on 6.25 acres with expansion possibilities.
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
$218,790
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
3.13%
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%
$4,375,800
$4.4M
Cap Rate 7%
$3,125,571
$3.1M
Cap Rate 9%
$2,431,000
$2.4M
Market Conditions
NOI Build-Up for 14,300 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
$429.0K $30.00/SF
− Vacancy
−$137.3K −$9.60/SF
EGI
$291.7K $20.40/SF
− OpEx
−$72.9K −$5.10/SF
NOI
$218.8K $15.30/SF
Area
Monmouth County, NJ
Vacancy
32.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
25.00%
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%
$4,375,800
Cap Rate 7%
$3,125,571
Cap Rate 9%
$2,431,000
Alternative Uses
Best Use
Office B
$3.13M
$2.73M – $3.65M
NOI $218,790 @ 7.0% cap · market cap 3.13%
Second Best
Specialty Retail
$3.12M
$2.73M – $3.64M
NOI $218,687 @ 7.0% cap · market cap 3.12%
Theoretical Best
Office A
$3.73M
$3.27M – $4.36M
NOI $261,381 @ 7.0% cap · market cap 3.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
636
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 07719, NJ
21,665
Population
10,753
Households
2
Avg Household Size
46
Median Age
53%
College-Educated
96%
High-School Grad
12.7 sq mi
ZIP Area
1,706
Density / Sq Mi
$119,877
Median Household Income
$58,854
Median Earnings
$1,754
Median Rent
$628,700
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Shopping center - 14,300 SF retail property with expansion possibilities on 6.25 acres.
Where is this shopping center located?
The property is located at 2027-2029 Highway 35 Wall, NJ.
What is the asking price?
The asking price for this property is $7,000,000.
What are key features of this property?
This property features: Prime retail location with excellent visibility on Route 35 and high traffic count (±24,000 vehicles daily).; 160 surface parking spaces.; ±14,300 SF retail building on 6.25 acres with expansion possibilities.
