Listing Agency: Fennelly Associates Show Phone

Listed By: Gerard J. Fennelly Show Phone

Source: Moodyscre

Added: Jan 2 Changed: Oct 1 Last Checked: Oct 15 at 2:28AM

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Investment Insights

Based on property information with market context.

This 4,975-square-foot storefront property at 29 N Main St. features two open studio areas, a reception space, extensive windows, and strong natural light. The building measures 49.6 feet by 100.6 feet and includes a large storefront along 55.84 feet of main street frontage. A recently replaced roof, 2015 HVAC installation, and 2020 air purification system are part of the existing improvements. Electrical service is 400 amps, 208 3W.

The property includes an 8-space parking area measuring 60 feet by 52 feet on a 9,761-square-foot lot with 175 feet of depth. VC, or Village Commercial, zoning supports retail, food service, and personal services. The site is 1 mile from US-130, 2.6 miles from NJ Turnpike Exit 8A, and 5 miles from Downtown Princeton.

Key Highlights

• 4,975‑square‑foot storefront building with two open studios and reception area
• 55.84 ft of main street frontage with a large storefront
• 9,761 SF lot with 175’ ft of depth

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$74,396

Cap Rate

6.47%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,487,920 $1.5M

Cap Rate 7%

$1,062,800 $1.1M

Cap Rate 9%

$826,622 $826.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,975 SF

Gross rent

$111.6K $22.44/SF

− Vacancy

−$5.4K −$1.08/SF

EGI

$106.3K $21.36/SF

− OpEx

−$31.9K −$6.41/SF

NOI

$74.4K $14.95/SF

Area

Mercer County, NJ

Vacancy

4.80%

Lease Rate

$22.44 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,487,920

Cap Rate 7%

$1,062,800

Cap Rate 9%

$826,622

Alternative Uses

Best Use

Retail

$1.06M

$930.0K – $1.24M (±1% cap)

NOI $74,396 @ 7.0% cap · market cap 6.47%

Second Best

—

—

no second resolved use

Theoretical Best

Warehouse

$1.60M

$1.40M – $1.87M (±1% cap)

NOI $112,045 @ 7.0% cap · market cap 9.74%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Princeton Ballet School ... Training Center

Suggested Use

Top Pick Dental Office Parking Lot & Garage Plumbing Service Real Estate Agency Hair Salon Bakery

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

225

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 08512, NJ

12,897

Population

5,237

Households

2.5

Avg Household Size

43

Median Age

55%

College-Educated

94%

High-School Grad

22.8 sq mi

ZIP Area

566

Density / Sq Mi

$115,255

Median Household Income

$65,587

Median Earnings

$1,584

Median Rent

$618,300

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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Frequently Asked Questions

What type of property is this?

Storefront property - Village Commercial zoning supports retail, food service, and personal services with dedicated parking.

Where is this storefront property located?

The property is located at 29 N Main St Cranbury, 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: 4,975‑square‑foot storefront building with two open studios and reception area; 55.84 ft of main street frontage with a large storefront; 9,761 SF lot with 175’ ft of depth