Freestanding Retail
For Sale
Contact for pricing
2101 Rte 70, Manchester, NJ 08759
Vacant commercial space offers signalized-intersection access, two roadway curb cuts, and established retail, office, and restaurant surroundings.
Property Size11,206 SF
Price / SF$290.02
Days on Market193
Property Features for 2101 Rte 70
General Information
Standard status
Active
Size
11,206 SF
Property subtype
RETAIL
Additional Details
Road Access
Yes
Building Details
Buildings
1
Tenancy
Single
Listing Agency:
Pierson Commercial Real Estate
(732) 707-6900
Listed By:
Neil Ruppert · License #1861045
Source:
Moodyscre
Added: Feb 18
Changed: Aug 29
Last Checked: Aug 29 at 7:36PM
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 Pierson Commercial Real Estate
Investment Insights
Based on property information with market context.
This freestanding retail property contains approximately 11,206 square feet and is being delivered vacant. The building was previously occupied by Rite Aid, providing a recognizable retail format for a new occupant or owner-user.
The property is located at 2101 Rte 70 in Manchester, New Jersey, at the signalized junction of Route 70 and Ridgeway Road. Access is provided by curb cuts from both roadways. Route 70 carries approximately 26K VPD, while Ridgeway Road carries approximately 16K VPD. The surrounding trade area includes national and local retailers, professional offices, and restaurants, with residential and commercial development also reported in the broader market.
The property is located at 2101 Rte 70 in Manchester, New Jersey, at the signalized junction of Route 70 and Ridgeway Road. Access is provided by curb cuts from both roadways. Route 70 carries approximately 26K VPD, while Ridgeway Road carries approximately 16K VPD. The surrounding trade area includes national and local retailers, professional offices, and restaurants, with residential and commercial development also reported in the broader market.
Key Highlights
- Approximately 11,206 SF freestanding retail building
- Delivered vacant; previously occupied by Rite Aid
- Signalized intersection of Route 70 and Ridgeway Road
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
$159,946
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
4.92%
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%
$3,198,920
$3.2M
Cap Rate 7%
$2,284,943
$2.3M
Cap Rate 9%
$1,777,178
$1.8M
Market Conditions
NOI Build-Up for 11,206 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
$242.0K $21.60/SF
− Vacancy
−$13.6K −$1.21/SF
EGI
$228.5K $20.39/SF
− OpEx
−$68.5K −$6.12/SF
NOI
$159.9K $14.27/SF
Area
Ocean 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%
$3,198,920
Cap Rate 7%
$2,284,943
Cap Rate 9%
$1,777,178
Alternative Uses
Best Use
Retail
$2.28M
$2.00M – $2.67M
NOI $159,946 @ 7.0% cap · market cap 4.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.93M
$2.56M – $3.41M
NOI $204,828 @ 7.0% cap · market cap 6.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
174
Businesses Nearby
49k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
QuickChek
Shops & Services
29,634 visits/mo
0.3 miles
Dollar General
Shops & Services
8,882 visits/mo
0.2 miles
PNC Bank
Shops & Services
5,001 visits/mo
0.3 miles
Santander Bank
Shops & Services
3,636 visits/mo
0.3 miles
M&T Bank
Shops & Services
1,459 visits/mo
0.2 miles
Demographics for 08759, NJ
34,547
Population
22,101
Households
1.6
Avg Household Size
69
Median Age
23%
College-Educated
93%
High-School Grad
61.3 sq mi
ZIP Area
564
Density / Sq Mi
$55,000
Median Household Income
$41,089
Median Earnings
$1,324
Median Rent
$176,600
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 - Vacant commercial space offers signalized-intersection access, two roadway curb cuts, and established retail, office, and restaurant surroundings.
Where is this retail space located?
The property is located at 2101 Rte 70 Manchester, NJ.
What is the asking price?
The asking price for this property is $3,250,000.
What are key features of this property?
This property features: Approximately 11,206 SF freestanding retail building; Delivered vacant; previously occupied by Rite Aid; Signalized intersection of Route 70 and Ridgeway Road
