Freestanding Retail
For Sale
Contact for pricing
2027-2029 Hwy 35, Wall Township, NJ 07719
Retail property with broad commercial-use permissions and established co-tenancy.
Property Size14,300 SF
Price / SF$489.51
Days on Market369
Property Features for 2027-2029 Hwy 35
General Information
Standard status
Active
Size
14,300 SF
Property subtype
RETAIL
Listing Agency:
Sitar Realty Company | Manasquan
(732) 275-7846
Listed By:
Thomas R. Deveney
(732) 275-7846
Source:
Moodyscre
Added: Aug 28, 2025
Changed: Aug 29
Last Checked: Aug 30 at 8:38PM
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 | Manasquan
Investment Insights
Based on property information with market context.
This freestanding retail property contains 14,300 square feet on 6.25 acres and was constructed in 2004. The site is zoned HB 120, with permitted uses that include shopping centers, retail stores, restaurants, medical and office facilities, banks, and child care. Existing center co-tenants include Mossuto’s Market, The Prophet’s Blade, and XO Nail and Spa.
The property fronts Route 35 for 292 feet. Nearby area tenants include Target, Jos A Banks, Staples, Starbucks, Ulta, Loft, Gap, Banana Republic, Acme, Whole Foods, Tommy’s Tavern and Tap, and Panera, providing a broad retail and service mix in the surrounding commercial area.
The property fronts Route 35 for 292 feet. Nearby area tenants include Target, Jos A Banks, Staples, Starbucks, Ulta, Loft, Gap, Banana Republic, Acme, Whole Foods, Tommy’s Tavern and Tap, and Panera, providing a broad retail and service mix in the surrounding commercial area.
Key Highlights
- 14,300 SF retail building on 6.25 acres
- 292’ frontage on Route 35
- Built in 2004
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
$204,108
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
2.92%
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%
$4,082,160
$4.1M
Cap Rate 7%
$2,915,829
$2.9M
Cap Rate 9%
$2,267,867
$2.3M
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
$308.9K $21.60/SF
− Vacancy
−$17.3K −$1.21/SF
EGI
$291.6K $20.39/SF
− OpEx
−$87.5K −$6.12/SF
NOI
$204.1K $14.27/SF
Area
Monmouth 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%
$4,082,160
Cap Rate 7%
$2,915,829
Cap Rate 9%
$2,267,867
Alternative Uses
Best Use
Retail
$2.92M
$2.55M – $3.40M
NOI $204,108 @ 7.0% cap · market cap 2.92%
Second Best
—
—
no second resolved use
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
622
Businesses Nearby
97k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 52%
Apparel 12%
Office Supplies 10%
Shops & Services 9%
Chipotle Mexican Grill
Dining
16,950 visits/mo
0.2 miles
Dunkin' Donuts
Dining
12,533 visits/mo
0.3 miles
Starbucks
Dining
10,435 visits/mo
0.2 miles
Staples
Office Supplies
9,717 visits/mo
0.1 miles
Turning Point
Dining
6,322 visits/mo
0.1 miles
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 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 broad commercial-use permissions and established co-tenancy.
Where is this retail space located?
The property is located at 2027-2029 Hwy 35 Wall Township, 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: 14,300 SF retail building on 6.25 acres; 292’ frontage on Route 35; Built in 2004
