Prime Retail Building in
For Sale
$499,999
222 Macarthur, Garfield, NJ 07026
Retail building in growing Garfield corridor, ideal for various businesses.
Property Size1,354 SF
Price / SF$369.28
Days on Market174
Property Features for 222 Macarthur
General Information
Standard status
Active
Size
1,354 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$4,200
Amenities
Baseboard Heating
Central Air Heating
Gas Heating
Steam Heating
Listing Agency:
REAL
(855) 450-0442
Listed By:
RODICA BALAN
Source:
Corcoran
Added: Feb 27
Changed: Aug 19
Last Checked: Aug 20 at 4:45AM
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 REAL
Investment Insights
Based on property information with market context.
This 1,354 sq ft one-story commercial building is located in a rapidly growing and highly sought-after area of Garfield, New Jersey. Positioned within a strong commercial and residential corridor, the property benefits from outstanding visibility, steady foot and vehicle traffic, and easy accessibility. The building is suitable for a wide range of retail or service-oriented businesses. The flexible configuration allows for numerous uses, including retail sales, coffee shop, studio, gallery, office space, or even storage. The layout includes a spacious open floor plan, a separate private office, two half bathrooms, a storage area, and a small kitchen/prep space. The property currently operates as a coffee shop and tea room, and prior to that, it was an art gallery. The space is well-suited for creative, boutique, or customer-focused concepts. The property has been recently renovated and presents an excellent opportunity for an owner-user or investor looking to establish a presence in a thriving market.
Key Highlights
- Prime location in a rapidly growing Garfield commercial and residential corridor.
- High visibility and steady foot/vehicle traffic.
- Flexible 1,354 sq ft space suitable for various retail or service businesses.
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
$20,706
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
4.14%
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%
$414,120
$414.1K
Cap Rate 7%
$295,800
$295.8K
Cap Rate 9%
$230,067
$230.1K
Market Conditions
NOI Build-Up for 1,354 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
$29.2K $21.60/SF
− Vacancy
−$1.6K −$1.21/SF
EGI
$27.6K $20.39/SF
− OpEx
−$6.9K −$5.10/SF
NOI
$20.7K $15.29/SF
Area
Bergen County, NJ
Vacancy
5.60%
Lease Rate
$21.60 /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%
$414,120
Cap Rate 7%
$295,800
Cap Rate 9%
$230,067
Alternative Uses
Best Use
Specialty Retail
$295.8K
$258.8K – $345.1K
NOI $20,706 @ 7.0% cap · market cap 4.14%
Second Best
Retail
$276.1K
$241.6K – $322.1K
NOI $19,326 @ 7.0% cap · market cap 3.87%
Theoretical Best
Office A
$353.6K
$309.4K – $412.5K
NOI $24,749 @ 7.0% cap · market cap 4.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,490
Businesses Nearby
248k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 43%
Apparel 40%
Shops & Services 16%
Beauty & Spa 1%
Burlington
Apparel
48,756 visits/mo
0.4 miles
Marshalls
Apparel
45,382 visits/mo
0.4 miles
McDonald's
Dining
41,239 visits/mo
0.5 miles
Applebee's
Dining
37,774 visits/mo
0.4 miles
Panda Express
Dining
18,622 visits/mo
0.5 miles
Demographics for 07026, NJ
32,655
Population
12,234
Households
2.7
Avg Household Size
37
Median Age
24%
College-Educated
84%
High-School Grad
2.1 sq mi
ZIP Area
15,550
Density / Sq Mi
$75,701
Median Household Income
$44,462
Median Earnings
$1,612
Median Rent
$454,300
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 building in growing Garfield corridor, ideal for various businesses.
Where is this retail space located?
The property is located at 222 Macarthur Garfield, NJ.
What is the asking price?
The asking price for this property is $499,999.
What are key features of this property?
This property features: Prime location in a rapidly growing Garfield commercial and residential corridor.; High visibility and steady foot/vehicle traffic.; Flexible 1,354 sq ft space suitable for various retail or service businesses.
