Corner Storefront with Loading
New
For Sale
$575,000
296 Pershing Avenue, Carteret, NJ 07008
Brick commercial building with on-site and street parking supports convenient customer access.
Property Size1,750 SF
Price / SF$328.57
Days on Market5
Property Features for 296 Pershing Avenue
General Information
Standard status
Active
Size
1,750 SF
Property subtype
Commercial
Additional Details
Corner Location
Yes
Amenities
on-site parking
loading access door
Building Details
Year Built
1975
Construction
brick
Listing Agency:
RE/MAX SELECT
Listed By:
ROBERT J. DURSO
(833) 740-1234
Source:
Actionplusrealty
Added: Aug 31
Changed: Sep 3
Last Checked: Sep 3 at 2:12AM
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 RE/MAX SELECT
Investment Insights
Based on property information with market context.
Located at 296 Pershing Avenue in Carteret, New Jersey, this 1,750-square-foot brick storefront building sits on a corner lot. Constructed in 1975, the property includes a brand-new 12-by-10-foot loading access door suited to receiving and service needs.
Parking is available on site and along the street, providing multiple customer access options. The storefront configuration and loading capability offer a practical commercial setting for a range of business uses.
Parking is available on site and along the street, providing multiple customer access options. The storefront configuration and loading capability offer a practical commercial setting for a range of business uses.
Key Highlights
- 1,750‑square‑foot brick storefront building
- Corner‑lot position at 296 Pershing Avenue, Carteret, NJ 07008
- Brand‑new 12x10 loading access door
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
$24,978
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
4.34%
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%
$499,560
$499.6K
Cap Rate 7%
$356,829
$356.8K
Cap Rate 9%
$277,533
$277.5K
Market Conditions
NOI Build-Up for 1,750 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
$37.8K $21.60/SF
− Vacancy
−$2.1K −$1.21/SF
EGI
$35.7K $20.39/SF
− OpEx
−$10.7K −$6.12/SF
NOI
$25.0K $14.27/SF
Area
Middlesex 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%
$499,560
Cap Rate 7%
$356,829
Cap Rate 9%
$277,533
Alternative Uses
Best Use
Retail
$356.8K
$312.2K – $416.3K
NOI $24,978 @ 7.0% cap · market cap 4.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$457.0K
$399.8K – $533.1K
NOI $31,987 @ 7.0% cap · market cap 5.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
670
Businesses Nearby
6k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Conoco
Shops & Services
4,411 visits/mo
0.0 miles
Extra Space Storage
Shops & Services
1,670 visits/mo
0.3 miles
Demographics for 07008, NJ
25,342
Population
8,717
Households
2.9
Avg Household Size
37
Median Age
28%
College-Educated
85%
High-School Grad
4.4 sq mi
ZIP Area
5,760
Density / Sq Mi
$87,712
Median Household Income
$42,770
Median Earnings
$2,012
Median Rent
$370,100
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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- Rich Florals — 36 Washington Ave, Carteret, NJ 07008
Frequently Asked Questions
What type of property is this?
Storefront property - Brick commercial building with on-site and street parking supports convenient customer access.
Where is this storefront property located?
The property is located at 296 Pershing Avenue Carteret, NJ.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 1,750‑square‑foot brick storefront building; Corner‑lot position at 296 Pershing Avenue, Carteret, NJ 07008; Brand‑new 12x10 loading access door
