Building Details

Year Built 1975

Construction brick

Listing Agency: RE/MAX SELECT

Listed By: ROBERT J. DURSO · License #7813218 Show Phone

Source: Actionplusrealty

Added: Aug 28 Changed: Oct 21 Last Checked: Oct 20 at 10:59PM

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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.

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 / Yr

$24,978

Cap Rate

4.34%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$499,560 $499.6K

Cap Rate 7%

$356,829 $356.8K

Cap Rate 9%

$277,533 $277.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,750 SF

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 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 (±1% cap)

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 (±1% cap)

NOI $31,987 @ 7.0% cap · market cap 5.56%

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

Property Analytics

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Open Analytics

Current Use

Storefront properties

Suggested Use

Top Pick Law Firm Real Estate Agency Spa & Massage Center Nail Salon (Bike/Boat/Book/etc) Store Cafe & Coffee Shop

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

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

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 - 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