Multi-Tenant Retail/Office Asset For
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241 Rock Rd, Glen Rock, NJ 07452
Multi-tenant retail/office asset in Glen Rock's Central Business District.
Property Size6,200 SF
Lot Size0.17 Acres
Price / SF$225.81
Days on Market172
Property Features for 241 Rock Rd
General Information
Standard status
Active
Size
6,200 SF
Lot size
0.17 Acres
Property subtype
Office, Retail
Zoning
C2 and AHO-2 Overlay
Building Details
Year Built
1950
Buildings
1
Stories
2
Units
7
Listing Agency:
Christie's International Real Estate
Listed By:
Jonathan Reitz · License #2077488
Source:
Crexi
Added: Mar 2
Changed: Aug 10
Last Checked: Aug 19 at 7:51PM
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 Christie's International Real Estate
Investment Insights
Based on property information with market context.
Located in the Central Business District of downtown Glen Rock along the Route 208 Corridor, 241-243 Rock Rd is a multi-tenant storefront retail/office asset. The two-story masonry building contains approximately 4,700 square feet of rentable area with a full unfinished basement accessible by three of the tenants. The property is situated on 0.17 acres, with 43 feet of frontage on Rock Road and approximately 100 feet of frontage on Valley Road, and includes 6 surface parking spaces in the rear. The building is configured for diversified tenancy with seven rentable spaces, providing multiple income streams. Current occupants include storefront tenants Suka Jewelry and Prominent Builders, as well as a mix of professional office tenants including Marc M. Radin PC (Accounting), Stay Golden Psychiatric, and Alpha Health. Two office spaces were recently vacated.
Key Highlights
- Located in the Central Business District of downtown Glen Rock along the Route 208 Corridor.
- Multi‑tenant property with seven (7) rentable spaces, providing diversified income streams.
- Approximately 4,700 SF of rentable area with a full unfinished basement.
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
$94,860
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
6.78%
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%
$1,897,200
$1.9M
Cap Rate 7%
$1,355,143
$1.4M
Cap Rate 9%
$1,054,000
$1.1M
Market Conditions
NOI Build-Up for 6,200 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
$186.0K $30.00/SF
− Vacancy
−$59.5K −$9.60/SF
EGI
$126.5K $20.40/SF
− OpEx
−$31.6K −$5.10/SF
NOI
$94.9K $15.30/SF
Area
Bergen County, NJ
Vacancy
32.00%
Lease Rate
$30.00 /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%
$1,897,200
Cap Rate 7%
$1,355,143
Cap Rate 9%
$1,054,000
Alternative Uses
Best Use
Office B
$1.36M
$1.19M – $1.58M
NOI $94,860 @ 7.0% cap · market cap 6.78%
Second Best
Retail
$1.26M
$1.11M – $1.47M
NOI $88,494 @ 7.0% cap · market cap 6.32%
Theoretical Best
Office A
$1.62M
$1.42M – $1.89M
NOI $113,326 @ 7.0% cap · market cap 8.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
662
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 07452, NJ
12,133
Population
3,755
Households
3.2
Avg Household Size
42
Median Age
75%
College-Educated
97%
High-School Grad
2.7 sq mi
ZIP Area
4,494
Density / Sq Mi
$210,369
Median Household Income
$106,750
Median Earnings
$1,938
Median Rent
$817,300
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Multi-tenant retail/office asset in Glen Rock's Central Business District.
Where is this storefront property located?
The property is located at 241 Rock Rd Glen Rock, NJ.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Located in the Central Business District of downtown Glen Rock along the Route 208 Corridor.; Multi‑tenant property with seven (7) rentable spaces, providing diversified income streams.; Approximately 4,700 SF of rentable area with a full unfinished basement.
