228 W Delaware Ave, Pennington, NJ
Mixed-use property featuring a bank lease and residential apartments.
- Added:
- Oct 3, 2025
- Days on Market:
- 252
- Last Refresh:
- May 20 at 8:39 pm
Property Features for 228 W Delaware Ave
General Information
- Standard status
- Active
- Size
- 3,509 SF
- Lot size
- 0.42 Acres
- Property subtype
- RETAIL
Listing agent Gerard J. Fennelly (609) 306-3158
Listing office Fennelly Associates (609) 306-3158
Listing date Oct 3, 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
HighLights
- Existing NOI: $70,000
- Bank Leases 1,374 SF – Absolute Net Lease until 4/30/27
- 3 Apartments; 2 Vacant
- Corner of W. Delaware and Route 31
- New Roof – 10 years
- 19 Parking Spaces
Overview
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $78.7k | $22.44 |
| − Vacancy | −$3.8k | −$1.08 |
| EGI | $75.0k | $21.36 |
| − OpEx | −$18.7k | −$5.34 |
| NOI | $56.2k | $16.02 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Pennington
- County
- Mercer
- State
- New Jersey
- Longitude
- -74.7994
- Latitude
- 40.3271
