Bank Branch with Drive-Through
For Sale
Contact for pricing
230 Forsgate Dr, Jamesburg, NJ 08831
Vacant branch property offers two right-in/right-out curb cuts.
Property Size3,850 SF
Price / SF$383.12
Days on Market207
Property Features for 230 Forsgate Dr
General Information
Standard status
Active
Size
3,850 SF
Property subtype
RETAIL
Site & Location
Drive-Thru
Yes
Road Access
Yes
Listing Agency:
RIPCO Real Estate - New Jersey
(732) 768-9898
Listed By:
Steven Winters
(732) 768-9898
Source:
Moodyscre
Added: Feb 6
Changed: Aug 29
Last Checked: Aug 29 at 11:54PM
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 RIPCO Real Estate - New Jersey
Investment Insights
Based on property information with market context.
This 3,850-square-foot vacant bank branch includes three drive-thru lanes and is subject to a 5-year banking/financial use restriction. The property has frontage along both Forsgate Drive and Perrineville Road, supporting visibility from each roadway.
Access is provided by separate right-in/right-out curb cuts on Forsgate Drive and Perrineville Road. Frontage measures 160 feet along Forsgate Drive and 270 feet along Perrineville Road.
Access is provided by separate right-in/right-out curb cuts on Forsgate Drive and Perrineville Road. Frontage measures 160 feet along Forsgate Drive and 270 feet along Perrineville Road.
Key Highlights
- 3,850‑square‑foot vacant former bank branch
- Three drive‑thru lanes
- 160 feet of frontage on Forsgate Drive
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
$58,877
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
3.99%
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%
$1,177,540
$1.2M
Cap Rate 7%
$841,100
$841.1K
Cap Rate 9%
$654,189
$654.2K
Market Conditions
NOI Build-Up for 3,850 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
$83.2K $21.60/SF
− Vacancy
−$4.7K −$1.21/SF
EGI
$78.5K $20.39/SF
− OpEx
−$19.6K −$5.10/SF
NOI
$58.9K $15.29/SF
Area
Middlesex 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%
$1,177,540
Cap Rate 7%
$841,100
Cap Rate 9%
$654,189
Alternative Uses
Best Use
Specialty Retail
$841.1K
$736.0K – $981.3K
NOI $58,877 @ 7.0% cap · market cap 3.99%
Second Best
Retail
$785.0K
$686.9K – $915.9K
NOI $54,952 @ 7.0% cap · market cap 3.73%
Theoretical Best
Office A
$1.01M
$879.7K – $1.17M
NOI $70,372 @ 7.0% cap · market cap 4.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
567
Businesses Nearby
Explore this area
Business Placement
Demographics for 08831, NJ
55,123
Population
24,898
Households
2.2
Avg Household Size
53
Median Age
51%
College-Educated
95%
High-School Grad
51.3 sq mi
ZIP Area
1,075
Density / Sq Mi
$108,741
Median Household Income
$74,340
Median Earnings
$1,872
Median Rent
$489,700
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?
Bank - Vacant branch property offers two right-in/right-out curb cuts.
Where is this bank located?
The property is located at 230 Forsgate Dr Jamesburg, NJ.
What is the asking price?
The asking price for this property is $1,475,000.
What are key features of this property?
This property features: 3,850‑square‑foot vacant former bank branch; Three drive‑thru lanes; 160 feet of frontage on Forsgate Drive
