Retail Property Near Emerson
For Sale
$1,150,000
Pending
23 Emerson, Emerson, NJ 07630
Single-tenant retail property with development potential near Emerson Train Station.
Property Size3,812 SF
Lot Size0.18 Acres
Days on Market279
Property Features for 23 Emerson
General Information
Standard status
Pending
Size
3,812 SF
Lot size
0.18 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$18,765
Amenities
Central Air Heating
Gas Heating
Hot Air Heating
Listing Agency:
KELLER WILLIAMS TOWN LIFE
(201) 894-8004
Listed By:
PAUL SKIADAS · License #1754359
Source:
Corcoran
Added: Nov 5, 2025
Changed: Aug 8
Last Checked: Aug 3 at 4:01AM
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 KELLER WILLIAMS TOWN LIFE
Investment Insights
Based on property information with market context.
This single-tenant retail property is located in the heart of Emerson's downtown business district, steps from the Emerson Train Station and public transportation. The freestanding 3,812 square foot building sits on a 7,649 square foot lot and has housed a long-standing tenant. The property includes seven dedicated parking spaces, a truck loading area, and street visibility along a commercial corridor. Located within the Downtown Overlay Zone, the property offers an opportunity for vertical expansion above the existing retail footprint, allowing for future mixed-use or multifamily development, subject to Zoning and Borough approvals.
Key Highlights
- Stable, reliable income stream from a long‑standing tenant.
- Prime location in Emerson's thriving downtown business district, near the train station and public transportation.
- Development upside with potential for vertical expansion and mixed‑use/multifamily development (subject to approvals).
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
$54,410
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
4.73%
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%
$1,088,200
$1.1M
Cap Rate 7%
$777,286
$777.3K
Cap Rate 9%
$604,556
$604.6K
Market Conditions
NOI Build-Up for 3,812 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
$82.3K $21.60/SF
− Vacancy
−$4.6K −$1.21/SF
EGI
$77.7K $20.39/SF
− OpEx
−$23.3K −$6.12/SF
NOI
$54.4K $14.27/SF
Area
Bergen 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%
$1,088,200
Cap Rate 7%
$777,286
Cap Rate 9%
$604,556
Alternative Uses
Best Use
Retail
$777.3K
$680.1K – $906.8K
NOI $54,410 @ 7.0% cap · market cap 4.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$995.4K
$871.0K – $1.16M
NOI $69,677 @ 7.0% cap · market cap 6.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
511
Businesses Nearby
82k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 40%
Dining 40%
Shops & Services 17%
Electronics 2%
Marshalls
Apparel
33,206 visits/mo
0.5 miles
Starbucks
Dining
16,626 visits/mo
0.4 miles
QuickChek
Shops & Services
12,114 visits/mo
0.5 miles
Dunkin' Donuts
Dining
7,796 visits/mo
0.1 miles
Dairy Queen
Dining
4,537 visits/mo
0.3 miles
Demographics for 07630, NJ
7,290
Population
2,641
Households
2.8
Avg Household Size
44
Median Age
55%
College-Educated
98%
High-School Grad
2.2 sq mi
ZIP Area
3,314
Density / Sq Mi
$153,963
Median Household Income
$69,842
Median Earnings
$1,926
Median Rent
$626,000
Median Home Value
Market
Vacancy Rate% for Retail 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?
Storefront property - Single-tenant retail property with development potential near Emerson Train Station.
Where is this storefront property located?
The property is located at 23 Emerson Emerson, NJ.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Stable, reliable income stream from a long‑standing tenant.; Prime location in Emerson's thriving downtown business district, near the train station and public transportation.; Development upside with potential for vertical expansion and mixed‑use/multifamily development (subject to approvals).
